CHAIRMAN’S CORNER Mr. David M. Bowling, CEO Citizens Union Bank of Shelbyville 2018-2019 KBA Chairman
What an Washington DC interesting place... I think this was my third KBA Washington DC trip and it never disappoints in providing some interesting memories and thought-provoking experiences. As my travel schedule worked out I got to DC very early on Sunday so I decided to take in a little of the many sightseeing opportunities the city has to offer. I had visited the Holocaust Museum before with my daughter’s eighth grade class but wanted to see it again with a little more time to really take it in. I spent 2-3 hours this time and I was glad I did. What a powerful, yet somber, place. It still amazes me that something that horrifying could happen in a “civilized” world, but it did. It was also interesting to see such a large crowd of tourists file through the many exhibits in almost total silence as they took it all in. You cannot experience that place and come away unmoved. It was a beautiful day so I sort of wandered around the Mall area the rest of the day and ended up at the National Portrait Gallery. Nothing like the Holocaust Museum of course, but interesting nevertheless to see the various portraits of the many men and women who shaped our country.
THREE FULL DAYS The first scheduled day of the trip was Monday when we had meetings with the ABA staff, FINCEN, the Treasury Department, the CFPB, the FDIC and the OCC. While I think all the meetings were informative, for me one of the most interesting elements was the obvious change in “tone” from the CFPB folks. Much has been made of the appointment by President Trump of Kathy Kraninger to follow Mick Mulvaney as head of the CFPB and it appeared to me at least that her staff has adopted a much “kinder and gentler” approach to the banking industry and that seemed to come through even our Q&A. Different leaders make a big difference. The other first day highlight I thought was the lively exchange we had with Sydney Menefee, Deputy Comptroller and Chief Accountant at the OCC, regarding the impending implementation of CECL. She was very knowledgeable about the issue and answered each of our questions as best she could given the implementation dates are still a ways off. While I’m not sure we learned anything new, I think the entire group was impressed with her candid responses. The second day started with a visit to the Federal Reserve and a sitdown meeting in the historic FRB Board room with new Fed Governor Michelle (she insisted we call her “Micki”) Bowman. She was a breath of fresh air to say the least. Having come from a $185M community bank in Kansas where she was later banking commissioner, it was great to have someone at the Fed who truly understands community banking. She was engaging and listened intently to our questions and issues. One of the best meetings we had.
THE KENTUCKY DELEGATION From there we went to Capitol Hill. I think no matter how many times I visit the Capitol I will always be amazed by the sheer size and power of the Federal Government. It’s an impressive beast with lots of moving parts. And, it’s hard to not feel the history all around you as you walk the same halls as Jefferson and Franklin. We started with lunch with Congressman Andy Barr and later met with Congressmen, Comer, Guthrie and Massie. We discussed our key issues with them (CECL, hemp, AML reform, a proposed farm tax bill) and they pledged their support. I think everyone agrees that we have some bright rising young congressmen in those four. Congressman Yarmuth (thankfully) and Congressman Rogers were not able to meet with us. On Wednesday we concluded our trip with a meeting with Senate Leader McConnell who listened to our issues and questions but admitted that unfortunately not much of substance was likely to happen in DC between now and the 2020 election. It’s good for Kentucky to have such a powerful Senator and he seemed to be already shifting into reelection mode. Unfortunately, Senator Paul’s schedule changed at the last minute we were unable to meet with him. It was a busy three days with lots of time for networking with old friends and some new ones. Spending time with other bankers may in fact be the most valuable part of the trip each year. I typically learn something valuable for my bank on these trips and it usually comes from another Kentucky banker.
OUR IMPRESSIVE EMERGING LEADERS I would be remiss if I did not point out how impressed the entire group was with the group of KBA Emerging Leaders who also made the trip. Eleshia Brandon, Mackenzie Carter, Ryan Newcomb, Jake Pepper, Logan Raley, Kelcey Rock, Taylor Rousey, Amber Smith, Haley Thomas and Jessica Watts all acquitted themselves very nicely on the entire trip. They were professional, articulate, engaging, inquisitive and active participants in most every meeting. If all of the young leaders in banks across the Commonwealth are like this group the future of banking in Kentucky is in good hands. All in all it was an interesting trip to an interesting place and one I encourage all Kentucky bankers to make at some point.
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