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Round Table Meeting With Congresswoman Robin Kelly

Round Table Meeting With Congresswoman Robin Kelly

Greg Ohlendorf's Meets With Congresswoman Robin Kelly

On August 29, 2018, Greg M. Ohlendorf, President and CEO of First Community Bank and Trust in Beecher, and David Schroeder, Senior Vice President of Federal Governmental Relations of the Community Bankers Association of Illinois, met with Congresswoman Robin Kelly (D-02) and Matthew McMurray (Legislative Assistant) to discuss a variety of topics of interest to FCB&T and the communities it serves.

Ohlendorf and Schroeder began the meeting by expressing their honest disappointment with Congresswoman Kelly for not voting in favor of recent legislation for long-overdue, well-deserved and meaningful regulatory relief that will benefit FCB&T including a simplification of community bank capital rules, an exemption from the new HMDA data collection rules, and automatic “qualified mortgage” status for real estate loans held in the bank’s portfolio. Despite this disappointment, Ohlendorf and Schroeder stated a sincere willingness to work with Congresswoman Kelly going forward on other issues.  

Cyber and data security is an issue of importance to all community banks and their customers. Congresswoman Kelly is the Ranking Member of the United States House of Representatives’ Information Technology Subcommittee. Ohlendorf and Schroeder urged the Congresswoman to support cyber and data security principals which include the cost of data breaches being borne by the party that caused the breach (including fraud losses and the cost of debit and credit card reissuance); and that any new security standards should ensure that community banks are not burdened with new regulations while others (specifically retailers) are held to a lower standard. 

Another issue discussed was the modernization of the Community Reinvestment Act (CRA). This 40 year-old regulation needs updating to reflect the new ways banks gather deposits, make loans and serve their communities. Ohlendorf and Schroeder urged the Congresswoman to support including new financial technology companies (Fintechs) and also credit unions (which have previously been excluded from compliance) in the CRA to better assess the performance of the entire financial services industry in serving their communities, including low and moderate income areas, in a safe and sound manner.

Ohlendorf and Schroeder expressed sincere appreciation to Congresswoman Kelly for taking the time to discuss community bank issues and opportunities.