Six years ago today, I underwent quadruple bypass open heart surgery. The doctor told me that, without the surgery, I was highly likely to have a heart attack within three years. Further, because of the location of two of my arterial blockages, the heart attack was likely to be fatal. I can assure you, he got my full attention!
On the bright side, he also told me that, if I had the surgery and if I behaved myself, I could expect to be around at least another 25 years. Never mind that I had never had surgery before—not even wisdom tooth extraction—suddenly the prospect of open heart surgery sounded pretty good. I don’t claim that I have fully behaved myself since, but I am still here, certainly beyond the potential life span of three years without surgery.
Many bankers feel like they, too, have been sentenced to a short life span with the passage of the Dodd-Frank Act. In response, consultants and associations have been working overtime to develop turnkey products to help banks deal with compliance woes. While we cannot guarantee another 25 years for good behavior, together we can help you work through the compliance issues.
Because many of the regulations that will most directly impact community banks have not yet been drafted or released, tough days still loom ahead. But as you deal with each new regulation, you will gain more confidence that you can do it. You will become stronger every day, much as I became stronger throughout my post-surgery recovery—though it takes time. I was able to do nearly everything within six weeks, but it was more than a year before I was 100 percent back to normal.
Encouragement from others makes a difference. In my case, I was bolstered by the many people who wanted me to recover—doctors, physical therapists, friends and family. You, too, have customers, employees, banker friends, consultants and trade associations eager to get you back to 100 percent. Rest assured, the Indiana Bankers Association will be there every step of the way, doing our part to help you through this regulatory juggernaut.