Florida Banking June 2023

while we lived in a two-bedroom apartment above a deli in the Bronx. I wanted to attend college but knew my parents could not afford to pay for my tuition. I also wanted to serve our great nation in the military to say thank you for taking us in as immigrants to live in freedom. So, after completing high school in Miami, I joined the military and served almost five years in the United States Air Force. I attended university classes Monday to Thursday evenings on the military bases where I was stationed after working all day in my military job. When I received my honorable discharge, I attended law school at the University of Iowa and I borrowed $6,000 as student aid to help pay for my education. After I graduated and began to work in my first law job making $25,000 a year, I bought a home and a car and started to repay my student loans. I paid off my student loans three or four years after I graduated. Now here comes President Biden handing out debt relief like Christmas gifts to those who did not repay their loans, no matter their families’ income levels. And what do people like me get, Mr. President, those of us who were responsible and repaid our student

loans? Had I never paid, would my loan be forgiven too? Does this immigrant who served our country in the military get some sort of monetary credit for being a responsible citizen? What if my parents had been wealthy, and I still did not repay my student loan — is that fair, Mr. President? Traditionally, mortgage rates are based on a variety of factors such as income, credit score and risk. Now comes the President’s new mortgage income redistribution plan which can be likened to students: If you have one student who studies and works hard to make As while the other student parties, fails to study, and makes Cs, is it fair to give them both Bs? Under our President’s philosophy, it is. This is not how grades should be distributed, nor is it true for mortgages. Mr. President, let’s help our country’s truly needy, but don’t penalize those who have worked hard and sacrificed. There was a time when this country rewarded such ideals. The FBA will discuss this issue with Washington policy makers in our never-ending battle to help our industry better serve Americans who want to achieve financial success.

Advance your career by enrolling in one of the Florida Bankers Association’s nationally-renowned schools taking place this summer!

FLORIDA TRUST & WEALTH MANAGEMENT SCHOOL

FLORIDA SCHOOL OF BANKING August 6-12, University of Florida, Gainesville Provides bank personnel at the supervisory and officer level the opportunity to increase their knowledge about the banking industry and the economy. July 23-28, Rosen Shingle Creek, Orlando Nationally renowned three-year program that encompasses the world of trust and wealth management banking.

For more information about the FBA’s schools, please visit the FBA website at www.FloridaBankers.com or contact Matthew Bennett at 850-701-3515.

WWW.FLORIDABANKERS.COM JUNE 2023 — 7