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Serving The Needs Of Washington Bankers Since 1889 INSIDE THIS ISSUE JULY/AUGUST 2011 5 Banking Industry Must Step Up to the Plate Jim Pishue, President & CEO, Washington Bankers Association 7 Introducing WBA’s 2011-2012 Board of Directors 8 Pushing the Pendulum Frank Keating, President & CEO, American Bankers Association 10 Legislative Update Denny Eliason, WBA Lobbyist, Alliances Northwest OFFICIAL PUBLICATION OF THE WASHINGTON BANKERS ASSOCIATION On the Cover: Japanese Garden, by Photographer Bob Rollins, Edmonds, WA Cover Photo Submissions: WBA members are invited to submit photos for consideration. Direct submissions to lisha@wabankers.com. 14 Upcoming Events and Schools 15 2011 WBA/WFL Bankers Conference Highlights 18 2011 Scholarship Recipients 21 Introducing WBA’s Management Development Program 23 What You Need to Know About Email Encryption and Archiving By John Pelley , CISSP, ISSAP, MBCI, Redhawk Network Engineering, Inc. ISSUES & ANSWERS is the official trade publication of the Washington Bankers Association. The views and opinions expressed herein are those of the individual authors and do not necessarily represent official statements of WBA policy, or its publisher Media Communications Group, Inc. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by the Washington Bankers Association or Media Communications Group, Inc. 25 Considerations for Banks Named as Parties in Eminent Domain Actions By Janis G. White & Charles F. Hudson, Lane Powell 28 Federal Reserve Board Proposes New Remittance Transfer Regulations Under Dodd-Frank Act By Andrew J. Lorentz and Brian Hurh, Davis Wright Tremaine, LLP WBA STAFF Jim Pishue, President & CEO (206) 344-3485 james@wabankers.com Liz Wilson, Executive Vice President (206) 344-3495 liz@wabankers.com DessaMonica de Castro, Accounting Assistant (206) 344-3476 dessa@wabankers.com Danielle Molle, Programs Administrator (206) 344-3475 danielle@wabankers.com Monique Osbjornsen, Education Coordinator (206) 344-3494 monique@wabankers.com Lisha Wood, Administrative Coordinator (206) 344-3484 lisha@wabankers.com Gretchen Kirkpatrick, Database & Website Specialist (206) 344-3492 gretchen@wabankers.com Peter Tang, Senior Accountant (206) 344-3472 peter@wabankers.com WBA BOARD OF DIRECTORS Eric Pearson, Chairman President & CEO, Community 1st Bank, Kennewick Laurie Stewart, Chairman-Elect President & CEO, Sound Community Bank, Seattle Kerry Biddle, Secretary/Treasurer Senior Vice President, Bank of America, Tacoma Dave Straus, Immediate Past Chair President & CEO, Fortune Bank, Seattle Jim Mitchell, ABA Govt Relations Committee Rep. President & CEO, Puget Sound Bank, Bellevue Kurt E. Graff, WBA PROS Chairman President & CEO, Northwest Commercial Bank, Lakewood Laurie Stewart, WBA Education Committee Chair President & CEO, Sound Community Bank, Seattle Jim Carmichael, Director (term to 2014) President & CEO, Columbia Bank, Tacoma Melanie Dressel, Director (term to 2013) President & CEO, Columbia Bank, Tacoma Brian Hawley, Director (term to 2014) SVP & Regional President, Union Bank, Seattle John E. (Jack) Heath, Director (term to 2012) President & COO, Washington Trust Bank, Spokane Dennis Long, Director (term to 2013) CEO, Bank of the Pacific, Aberdeen Jim Mitchell, Director (term to 2013 President & CEO, Puget Sound Bank, Bellevue Carol K. Nelson, Director (term to 2014) President & CEO, Cascade Bank, Everett Byron L. Richards, Director (term to 2014) Senior Vice President, U.S. Bank, Seattle Greg Seibly (term to 2014) President & CEO, Sterling Financial Corporation Patric Yalung, Director (term to 2013) Regional President, Wells Fargo Bank, Seattle www.wabankers.com 4
Serving The Needs Of Washington Bankers Since 1889 PRESIDENT’SMESSAGE Jim Pishue, President & CEO, Washington Bankers Association Banking Industry Must Step Up to the Plate We’ve all seen the phrase printed in small type on the bottom of countless raffle tickets: “Need not be present to win.” of the mouse our members can add important voices to our own chorus on an issue. However, when it comes to the halls of Olympia or Washington, D.C., the exact opposite is true. You must be present to win. WBA and our allies in the United Financial Lobby win our share of legislative battles. We have a strong presence: talented company and association lobbyists advocating on our behalf. We benefit from the relationships and credibility that local bankers build with their elected representatives. And we can call on experts to provide factual information on how pending legislation will impact our banks, our customers and our communities. But for all of these assets, the legislative calculus often includes other variables. Legislators may recognize that a bill isn’t ready for prime time, but if enough of their constituents flood their offices with calls, letters, and emails, they may be convinced to take action anyway. Politicians can be like rowers: they find it easier to go with the tide than against it. Enabled by new technologies, interest groups everywhere are mobilizing their members to produce a loud chorus that lawmakers can’t help but hear. Twitter and other social media tools provide constant updates on legislative developments. Email blasts deliver calls to action. And web-based tools put instant communication with elected officials only a mouse click away. Too often, consumer groups and social service advocates have outflanked financial institutions and other business organizations in pressing their agenda with lawmakers. At the WBA, we’d like to change that. We recognize that we’ll never be able to match the thousands of purple T-shirted “volunteers” routinely spilling off unionchartered school buses in the capitol parking lots. But we can do a better job of reaching and engaging our members in support of our government relations program. First, as we discussed at this year’s convention, we are significantly upgrading the WBA website. A major factor in the board’s decision to support this investment was the opportunity to leverage our web presence in our advocacy efforts on behalf of the industry. The update process will be completed this fall and I hope every employee of every WBA member bank will look forward to visiting www.wabankers.com then. It will be a valuable resource for people who are interested in issues impacting our industry. (And it will offer plenty of information on WBA programs that can help their careers along the way, too.) From time to time, the WBA website will feature a call to action. With a simple click 5 We also are working to augment our new and improved web tools with some good, old-fashioned grassroots organization. Our goal is to identify at least one WBA government relations coordinator in each and every member bank. In large banks, it might be an expert who is already engaged in our advocacy efforts. Or it could be an up-and-coming manager who would benefit from a broader industry perspective. In smaller institutions, it could be the CEO or another senior officer. Whoever is identified, that person will be our first point of contact for sharing legislative information and for requesting the timely engagement of that bank and its employees. Our hope is that identifying individual volunteers to take on these assignments will improve the number and diversity of probank comments reaching local lawmakers. It is a crucial next step in building on the firm foundation that has been created by our existing advocacy program. To take that step, we need you. If you are interested in serving as the WBA government relations coordinator for your bank, I urge you to talk with your CEO about the assignment and contact me at the WBA offices. Help us be present. And win. July/August 2011 ⏐
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