Watch Your Colleague’s Back

We all know it’s true that when we work together as an industry, we are likely to be more successful. The LBA was created to provide that opportunity for every banker that chooses to be a part of the work to be successful at whatever the task is. The education and professional development courses and seminars that LBA provides are largely developed through all the various interactions our staff has with our bosses, the bankers in Louisiana. LBA Peer Groups are invaluable in this regard. Advocacy is critical in our mission and was the reason the LBA was first created. Bankers have high expectations of us and we here at LBA have high expectations of ourselves. Together, success is much more likely. 

This recently came back to me very strongly on an issue we had at the State Capitol this session that has now been resolved. It took me back a very long way to my early years as the LBA Director of Government Relations. First the story from long ago, then today. Decades ago, there was an unusual bill at the State Capitol in the House Ways and Means Committee that LBA opposed, but no banker whose bank would be impacted by the bill had relationships with members of this committee. That led me to call bankers with contacts on the committee and ask that they call their legislator to oppose the bill even though it did not impact them. Everyone did so, and we were able to kill the bill. This memory returned recently when the LBA found itself strongly opposed to bills introduced by the Louisiana Office of Financial Institutions that impacted all state chartered banks in the state, but not national banks. In the midst of this, I received a call from the chief executive officer of a Louisiana-domiciled national bank, stating that they also opposed the bills, even though not directly impacted, and was ready to engage in any way that could help his colleagues at state-chartered banks. This attitude and his taking action to call me to communicate this is a very powerful illustration of why the LBA exists and how we each through our actions can collectively be very effective in achieving our objectives. 

We are on the cusp of success in Washington with the Senate’s passage of S. 2155 providing relief for bankers and their customers. The House is now considering how and when to take up this bill. I expect it will pass the House and be signed by the President. This legislation is the culminated effort by bankers since the 2010 passage of Dodd-Frank. All the travel to D.C. and telling your story to Louisiana’s delegation will result in success. Once done, then the next legislative fix will be in the cue to continue our work. Let us watch our colleague’s back by working together for common goals.