An assembly of more than 200 bankers, Iowa Division of Banking personnel, federal regulators and industry experts attended the Day with the Superintendent on May 1 at the Sheraton West Des Moines.

Iowa Superintendent of Banking Tom Gronstal hosted the event, which provided insight on the current regulatory environment for Iowa state-chartered banks.

Gronstal provided an overview of the past banking year and addressed the Treasury’s “blueprint” for regulatory reform, which threatens the nation’s dual-banking system. Gronstal emphasized the importance of preserving the country’s “unique system that provides access to banking services to so many consumers and communities across our nation.”

Iowa Student Loan CEO Steve McCullough addressed the impact of recent state and federal legislation on the student loan industry. He also encouraged Iowa banks to consider providing funding for private (non-federally guaranteed) student loans to assist students in the state.

Former Iowa Gov. Tom Vilsack discussed the challenges and opportunities we will face due to climate change, which he said is an issue that “will dictate the future of our economy.”

Vilsack said that within the next five to 10 years, new laws will require businesses and other entities to reduce carbon emissions. As a result, Vilsack said Iowa banks will be asked to finance green technology.

Vilsack encouraged Iowa banks to begin asking questions about the legislation that will need to be considered, noting that the changes are coming and “we’re either going to be ahead of it or behind it.”
“I think the bank community has an opportunity to work with the state of Iowa in creating and leveraging resources,” Vilsack said.

The 2008 Day with the Superintendent is the 15th event of its kind. More information and presentations from the event are available on the IDOB Web site at www.idob.state.ia.us.

Above: Iowa Superintendent of Banking Tom Gronstal (left) pictured with John Ryan, Executive Vice President of the Conference of State Bank Supervisors (CSBS). Gronstal told the audience that the CSBS is the only organization in Washington dedicated to preserving the dual-banking system.

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