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Friends of Traditional Banking(FOTB) is an independent expenditure-only committee, or super PAC, with the aim of improving the political and regulatory environment for the banking industry in the United States by decreasing federal regulation, particularly by repealing the Dodd–Frank Wall Street Reform and Consumer Protection Act. As a non-partisan trade group, it selects a small number of Congressional races in each election cycle (typically two) and encourages their members to donate directly to these campaigns.[1]
Friends of Traditional Banking
Abbreviation
FOTB
Formation
2012 in Salt Lake City, Utah
Type
Super PAC Industry trade group Advocacy group
Legal status
non-partisan
Purpose
Decreasing federal regulation of banking by encouraging support for key races each election cycle.
Location
Salt Lake City, Utah
Region served
United States
Membership
15,000
Chairman
John Boyer, Chairman, KANZA Bank, Kingman, Kansas
Founder & Treasurer
Howard Headlee, President & CEO, Utah Bankers Association
Executive Director
Mike Winder
Website
friendsoftraditionalbanking.com
The organization is headquartered in Salt Lake City, Utah and has over 15,000 members. They are led by an executive committee including bank executives and bank association executives, advised by a Board of bank executives from each state, and an Advisory Council of bank association leaders.[2] Their membership and leadership includes execs affiliated with the American Bankers Association, Independent Community Bankers of America, and other industry groups.
^"New pro-bank, anti-regulation group is Utahn's brainchild".
^"About Friends of Traditional Banking". Archived from the original on 2015-06-26. Retrieved 2015-06-25.
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