Florida Banking May 2024

CHAIR’S MESSAGE

BECOME A STRONG ADVOCATE FOR OUR INDUSTRY

BY JOSE CUETO, FBA CHAIR

A s my year as your FBA Chair comes to a close, I want to remind you of the importance of getting involved in the association’s advocacy efforts. As we know from the recent legislative session, our industry is facing challenges from all sides, and every one of us has a role to play in educating our policymakers and the public about the good work we do for our customers and communities. In March, I joined more than 50 Florida bankers for the FBA’s 68th Annual Washington, D.C. Trip. We had the opportunity to raise concerns about the regulatory “tsunami” our industry is experiencing, and to get our policymakers’ thoughts on the issues of the day. FBA President and CEO Kathy Kraninger moderated excellent panels on banking policy issues and political perspectives. Our group also spent a morning at the ABA Washington Summit, during which we heard from knowledgeable speakers like former FDIC Chair Jelena McWilliams and former Vice Chair of the Federal Reserve Randy Quarles on how the industry should respond to the extensive regulations coming from Washington, including through litigation. We visited the FDIC for a briefing with FDIC Chair Marty Gruenberg, hosted an evening reception at Florida House for members of the Florida Congressional Delegation, and spent a day on Capitol Hill having conversations with legislators and policymakers like Acting Comptroller Michael Hsu, OMB Director Shalanda Young, House Financial Services Committee Chairman Patrick McHenry, and U.S. Senator Rick Scott (among others!). Recognizing the impact that policymakers in Washington have on our industry, it is essential that we participate in these trips. I learned there’s a saying in Washington, “It’s not who you know, but who knows you.” As with our customers, we need to build

relationships with policymakers and legislators so we are their “first call” when a banking issue comes up. Building those relationships starts at home, in our local communities. Your legislator may go to your gym or your church, or shop at the same grocery store. Maybe their kids go to the same school as yours. Maybe your legislator lives next door, or in the neighborhood. We need to find that connection just as we do with our customers at the bank. Extend an invitation to your local legislator to visit a branch, or to meet your customers. When the FBA hosts leadership events in your area, show up to represent your bank and your local community. Be prepared with timely questions. Be willing to speak out about how your bank is helping customers achieve their financial goals. The FBA needs to know about these local relationships so that they can help us nurture them. Our policymakers don’t want to hear from us only during a crisis. When we build genuine connections, our representatives will not only be willing to pick up the phone and listen, but more inclined to call us first for an industry perspective. Advocacy is and always has been at the core of the FBA mission. As members of the association, we have a role to play in supporting advocacy efforts and educating the public, the media, and our lawmakers about what we do. The FBA provides many opportunities big and small for our banks to participate in advocacy. If you have feedback or questions for the FBA, or simply wish to learn more about getting involved, I encourage you to reach out to the team or to Kathy Kraninger directly. The FBA needs not only our feedback but also our active participation to grow and adapt with the changing times.

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