The snow has almost all melted, spring is in the air, and the North Dakota legislative session is almost over. These are all good things!  There’s also cautious optimism that community banks might see some much needed regulatory relief with a new Congress and administration.  While regulatory relief for community banking isn’t as high on President Trump’s priority list as we’d like, it’s at least in the top five behind healthcare, tax reform, immigration and transportation.  The road so far, however, has been pretty bumpy with the at least temporary stalling of ACA repeal.  Hopefully, regulatory reform for community banks has a smoother path.  We’ll find out more later this month when we travel to DC for   ICBA's Capital Summit.

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I hope this message finds you all enjoying a happy and prosperous 2017. This is our first newsletter for 2017 and you likely already noticed from the cover page and cover story that we’ve implemented some changes at ICBND this year.  Effective January 1, 2017, the division of ICBND formerly known as ICB Purchasing Exchange has adopted a new tradename – ICB Marketing Solutions.

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As I write this, we’re in the midst of our first snow event of the season so I guess winter is officially upon us. While it seems like it’s been awhile since we had snow, the novelty of shoveling and plowing has already worn off.  Not a great sign.  My wife has also informed me that our older dog has again exercised her apparent right to move her bathroom indoors!  Also, not a great sign.

Speaking of seasons, how about that election season! I know we’re all glad it’s over, but it really was something to watch unfold.  At the national level, public pollsters and election models just absolutely missed it.  Republicans not only won the presidency, but also held a majority in the US Senate (which was somewhat unexpected) and lost many fewer seats in the US House than anticipated.

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As the father of three grown daughters, I understand the impact of reinforcement. As the youngest in my own family, my wife would probably say I need excessive reinforcement. I say she’s lucky! And, the latest Wells Fargo scandal has given regulators, particularly the CFPB, a boatload of reinforcement. Wells created over 2 million bogus accounts without customers’ knowledge. 5300 employees have been fired. Apparently rogue employees who conjured these schemes up themselves! Seems doubtful. The result so far - $185 million in fines and penalties, a trip to the US Senate Banking Committee woodshed, and the announcement of an investigation by the US House Financial Services Committee. I have a sense the final shoe has not dropped. I can only imagine there are a number of uncomfortable discussions being held behind closed doors at other mega-bank headquarters. My guess is the probes are just beginning. If it seems like I’m picking on Wells Fargo, I am. I don’t represent them.

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As I write this, we are in the home stretch of preparation for the 49th Annual ICBND Convention and Exhibition. It’s fun to be part of the “buzz” around the office as the staff of your association works hard to make this a premier event and a special occasion for our members. If you’ve not already registered, please do so! It promises to be fun and informative as we’ve assembled a quality lineup of educational and networking events along with our outstanding associate member exhibits.

On the regulatory front, we’re pleased to announce that a small contingent of ICBND member bankers will be meeting with Senator Heitkamp and CFPB Director Richard Cordray on August 10th in Bismarck. This is a great opportunity to share with Director Cordray the challenges of independent community banking in rural America under an increasingly burdensome regulatory regime.

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