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Continuing our work with Community Banks and Credit Unions

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Since Professor Warren spoke at the Independent Community Bankers of America convention last month, she and I have continued to meet with community banks and credit unions. We were thrilled to reach the milestone of connecting with small providers in all fifty states, but we know there is still more for us to do. As we said at the time, we are continuing to reach out to independent bankers and credit unions from across the country to better understand their concerns.

The week before last, Professor Warren connected with thirty-eight members of the North Carolina Bankers Association in Charlotte. In Columbus, Ohio, I spoke about the new consumer bureau and our goal to ensure a level playing field for small depository institutions with several hundred members of the Ohio Credit Union Association at their annual convention. And over the last two weeks, we have been in touch with community bankers from California, Arkansas, Kentucky, New York, and Alabama. We have reached out to the State Department Federal Credit Union, and we spoke to the community bank group at the American Bankers Association.

Finally, last week Professor Warren traveled to Lexington, Kentucky, where she delivered the Chellgren Lecture at the University of Kentucky Law School. While there, she also participated in a seminar in Louisville called A Day with the Commissioner. The event was hosted by the Kentucky Department of Financial Institutions and the Federal Reserve Banks of St. Louis and Cleveland. Many attendees of the seminar came from nearby banks, and Professor Warren stressed that consolidating the functions of several agencies into one will simplify the banks’ regulatory burden.

  • http://www.facebook.com/profile.php?id=1094010403 Mark Salpeter

    I don’t really know where or how to go about asking for information from or posing suggestions to people in your agency. So, for lack of a better outlet, I figured a comment on this desolate blog might at least get read and hopefully acknowledged by someone of marginal importance.

    I’ve seen Professor Warren making rounds in the media, advocating for this (potentially excellent) organization again. Its disconcerting for me to see her have to make her case a second time when the public outcry spurring the inception of this thing was and still is so visceral. I’d love to get involved, but I don’t really know how.

    Warren mentioned that members of the (for lack of a better term) “oligarchy” were penning various pieces of legislation to kill or cripple this agency before it can take effect in a few months. If you guys could keep a running list of those pieces of legislation with a brief summary of how exactly they’ll compromise the organizations effectiveness, people like myself could keep better informed, send out a few strongly worded letters, defecate on a local representatives lawn (I think that counts as speech, right?) – you know grass-rootsy stuff. Thanks for reading. Hope to hear back.

  • CNCleary

    I just caught your interview on the Daily Show with Jon Stewart online. I, like Mark Salpeter here earlier, am eager to stay informed so that I can be proactive about finance issues in potentially harmful legislation. A reading list, in addition to Mark’s request for a list of pending legislation and its effects, would be a big lift, a way to become an informed citizen. Rather than just react, I would like to be proactive in dealing with government “deal makers”, watching who is crippling whom. I am convinced I can also play a role in educating my community if I have the background and information. The reading list?

  • Patte Lanus

    I agree with the other two posts here–in terms of being aware of what is happening in congress. Please find a way to keep this in the forefront of the discussion in this country. Ordinary people will sign petitions, especially on the net, to have their congress-people hear from them on issues such as this. Vitally important is communication from this agency to the average American who wants to protect this Agency from disappearing between now & July (?) when it all takes effect. Please continue to educate–loud & clear so people know what they need to do and how to lobby their own congressional representative/senator. thank you for doing this!

  • Jason Vitug

    I’m a VP of a Credit Union based in the San Francisco area. My CEO is active with 2 dozen smaller Bay Area credit unions. I would love the opportunity for Professor Warren to come to San Francisco and meet with the CEOs of small to mid-size credit unions. It would give an opportunity for us to learn more and become more active in the goals of this bureau.

    As Mark Salpeter commented, how do we get more invloved?

    • CNCleary

      We have a vigorous credit union here in the WestConsin Credit Union. I hope they stay that way. Is approaching the CEO and/or the Chairman of the Board frowned upon? I am a communicator — both by inclination and by training — and recently started something called the Community Forum in order to highlight issues such as this, issues about which the public is poorly informed but about which they *must* be informed.
      I’m ready to do my homework.

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