April 13, 2011
When I was a student back in elementary, junior high and high school, I would—like all of my classmates—become distracted at the close of each school year. Usually there was a flurry of last-minute tests, papers and projects, but our youthful minds would wander off to summer.
There’s no summer vacation in grown-up life, or at least not in mine. The closest I come is the close of the annual session of the Indiana General Assembly. Coincidentally the Indiana Legislature completes its work just as outdoor temperatures start to warm, ushering in spring and the promise of summer.
But inside the halls of the Statehouse, minds are not wandering. The last weeks of session bring crunch time, when good lobbyists are more focused than ever. At this critical point, the most important—and usually controversial—issues are decided.
This year is no exception. The banking industry in Indiana has important issues remaining, including: municipal bankruptcies, which could severely impact a bank’s investment portfolio; changes in the Financial Institutions Tax rules and/or rates; mortgage foreclosure settlement conference modifications; and the potential theft of the Public Deposit Insurance Fund (PDIF).
Theft of the PDIF is the largest single issue. We will not know the fate of the PDIF until the very end, because it may be woven in with the budget—always one of the last bills approved.
We are laser-focused on this topic! We ask that Indiana Bankers Association members be laser-focused, too, if we are to successfully stop this theft. Summer may be coming, but we still face the big test. Please work it to the end!
– S. Joe DeHaven