SCBA is an active advocate on federal legislative initiatives important to banking with the South Carolina Congressional delegation and their staff while they are in Washington D.C. and also maintains “back home” contact with the delegation.  South Carolina is fortunate to have a delegation that is supportive of banking and two members are on key banking committees: Sen. Tim Scott (Senate Banking) and Rep. Mick Mulvaney (House Committee on Financial Services).  Always remember to take the time to communicate with them on federal legislative and regulatory issues important to your bank.  Additionally, SCBA conducts its annual Washington Trip each spring, taking a group of our bankers to D.C. to speak with our delegation and regulators. The trip is held concurrently with the American Bankers Association’s Government Relations Summit.

To view contact information for members and staff of our Congressional delegation, click here.


This summer the House introduced the CHOICE Act, a bill that comprehensively overhauls the Dodd-Frank Act as well as adopts laws to improve banking overall. The House hopes to move the bill forward this fall. A summary of the bill can be found by clicking here.

The Senate recently introduced S. 3153 the TAILOR Act, a bill similar to a version the House passed. The TAILOR Act requires regulators to take into account the type and size of a bank, as well as its risk profile, before issuing regulations. To see the state banking associations’ letter supporting the TAILOR Act, click here.

H.R. 5465 introduced to repeal the Durbin Amendment. To see one of SCBA’s letters to South Carolina’s congressional delegation supporting H.R. 5465 click here.

To keep up with latest actions related to Dodd-Frank you can view the ABA’s Dodd-Frank Tracker here.


It’s important for our delegation, as well as the public and the media, to hear from our bankers how laws and regulations affect banking and our communities. To effectively do this, the ABA offers Bankers Speak Up, an excellent resource for materials, information and media for you to tell our story.

Credit Union Competition

Congress established credit unions in the 1930s to provide small-dollar loans to close-knit groups of people of modest means. To encourage credit unions in their mission, Congress exempted credit unions from federal income taxes.
However, many of today’s credit unions bear little resemblance to the industry that received this special tax exemption and today have become indistinguishable from the banking industry. Credit unions have leveraged their taxpayer subsidy to aggressively grow—becoming a $1 trillion industry. And as the credit union industry expands, it does so at the expense of all taxpayers.


The credit union tax exemption is no longer justified. Credit unions have drifted from their original mission, and have outgrown their special tax-exempt status. Taxpayers can no longer afford to continue subsidizing the credit union industry. The goal is to have these large, aggressive credit unions return to their original mission or become subject to the same regulatory, supervisory and tax requirements as banks.

Enough is Enough: Say NO to Credit Union Expansion

The following materials put into perspective how credit union competition affects US in South Carolina. Please share this information with your representatives.

CU Real Story
Who Receives CU Mortgage Loans?
Top CU Business Lenders
Featured Graph

Click here for much more information provided by the ABA.

Follow Along... It's Time To Pay!

Helpful Federal Links


Please contact Neil Rashley with SCBA with any questions you may have on federal legislation: nrashley@scbankers.org or (803) 779-0850.