Pub. 6 2016 Issue 3

What’s more, the The Arizona Bank- ers Association’s (AzBA) strongest ally at the Legislature, Senator-elect Kate Brophy McGee (R-Phoenix), survived what turned out to be the most com- petitive legislative race in the State. The AzBA is proud to have been able to strongly support her transition from the House to the Senate. The work ahead for the Associa- tion is not without its challenges. This past summer, National Republican and Democratic Parties decided to add the restoration of the Glass-Steagall Act to their party platforms. While this may have come as a surprise to some, the Arizona Bankers Association had already observed similar move- ments locally. For a number of years now, we’ve seen and thwarted at- tempts by lawmakers on both the left and right side of the aisle to embrace such reforms and, while our lobbying team has long been effective in halt- ing any real movement in the direction of the full embrace of Glass-Steagall, the Association must make strides toward building an understanding among both caucuses that such regu- lations are unnecessary relics of the past. As always, the Association will have its ear to the ground on the budget pro- cess as it unfolds, in addition to paying careful attention to any and all reforms that impact our interests. In particular, any legislation that comes through the relevant House and Senate Finance committees will receive close scrutiny from the Arizona Bankers Association. Be sure to also watch for those pieces of legislation that are being proactively ad- vanced by the Association. Specifically, the Association will pursue a reciprocal deposits bill that is designed to provide an expansion in investing authority to additional public institutions, including: electrical districts; healthcare districts; police pension funds; etc. The Arizona Bankers Association has on its side one of the best govern- ment relations teams in the State. The Association is well-equipped to continue engaging in a meaningful way at the Capitol where we look forward to another successful legislative session. w 25 ISSUE 3. 2016