Pub. 5 2017 Issue 1

Issue 1. 2017 5 E-mail Rob Nichols at nichols@aba.com . Getting into Washington’s Business By Rob Nichols, President and CEO, American Bankers Association WASHINGTON UPDATE F ew would dispute that Washington is very much in the business of banking. But who is in the business of Washington? According to the Congressional Re- search Service, the members of the 115th Congress include a record number of women (109), African-Americans (52), Hispanic or Latino members (45), and Asian, Indian or Pacific Island Americans (18). They also include a fairly typical mix of professions, with a heavy dose of members having previously served in public office, business, law and educa- tion. A closer look at previous occupa- tions reveals that our current class of lawmakers includes 36 from the real estate industry, 26 farmers or ranchers, 14 physicians, 11 accountants, nine social workers, eight ordained ministers, seven radio talk show hosts, six software company executives, three venture cap- italists, two Peace Corps volunteers and one physicist. So where do bankers rank? There are currently 18 members who came to Congress with a background in banking. Relative to the other professions noted above, 18 bankers may seem like decent representation. But unlike the other professions, banking is an industry that plays a central role in economic growth and job creation. You have relationships with all these other professions, helping to meet their funding, cash management and payroll needs. You also have rela- tionships with more than 112 million American households. That suggests we need far more bankers to serve in Congress, representing not just our insti- tutions, but also the families, customers and communities that we serve. And if that isn’t enough reason, consid- er that of the 60 men and women who serve on the House Financial Services Committee — one of Congress’ largest committees and the one that sets the agenda and oversight of laws governing banking — only five have banking expe- rience. That’s absurd. Now here’s the good news. Bankers are already in the business of serving their communities, not just through their bank, but also on the boards of the local nonprofit, hospital and school system. Arguably serving in public office is nothing more than a logical next step rather than a giant leap. The even better news is that ABA has a way to help you take that next step. This September we are piloting our first ever ABA Candidate School to help bankers — Democrat, Republican or Independent — run for state or federal public office. The nonpartisan school, set for Sept. 13-15, 2017, in Washing- ton, D.C., will provide all the informa- tion you need on how to file necessary paperwork, manage paid and earned media, fundraise, research and target, and get out the vote. It will demystify the process. As you may have heard me say when describing ABA’s Power Up initiative, aimed at building our industry’s political capacity, if the past decade has taught us anything, it’s that more bankers need to be involved in the public policy debates surrounding our industry. And those casting votes on banking policy must fully understand and appreciate the impact their decisions will have on a community and its residents. So if you have ever considered running for office, or if you have been a vocal advocate on state or federal policy issues and are ready to take your political engagement to the next level, I strongly encourage you to apply to this school. Download an application (due June 1) and learn all the details at aba.com/ RunforOffice. Washington has long been in banking’s business. Now it’s time to put more bankers in the business of Washington. Because when it comes to setting bank- ing and economic policy, nothing beats your real-world experience. n