Community Bankers of Iowa Monthly Banker Update June 2014 | Seite 4

From the Top

Written By: John H. Buhrmaster, Chairman of ICBA

The Three Rules
Be responsible, be respectful and be truthful.
These are the three rules of good conduct in
my family’s household. No complicated list of
rules, just these three simple rules upon which
my children can judge their own actions.
As a father to three amazing children, I find
myself talking about these three rules over
and over again. And that’s not because any of
my children often find themselves in the family
dog house. To the contrary—these are three
rules that I require myself to live by every day.
In doing so, in leading by example, my wife,
Leslie, and I are cognizant of our actions and
what they mean for the well-being of others,
including our children.
So, naturally, we sometimes find ourselves
talking about these important rules over family
dinners and get-togethers. They also carry
over a few miles to the west to First National
Bank of Scotia—the other place I call home.
As a community banker, these same rules
apply. It’s simple. As I want the best for my
family, I want the best for my customers. When
we follow these rules, everybody wins.
As one community banker to another, I know
I don’t have to remind you about these rules.
You know the well-being of your customers
is essential to your ongoing livelihood, and
they’re an extended part of your family. So you
know that every action that’s not responsible,
respectful or truthful will only harm rather than
help people and communities. That’s why you
take your principles as a community banker so
seriously.
I only wish that those on Wall Street would
do the same. I can’t help but think what pain
might have been avoided if those on Wall
Street had reminded themselves about these
three simple rules of good conduct during the
years leading up to the financial crisis. While
it does us little good to think in terms of what
might have been, I have a feeling that the term
“Great Recession” might never have been
added to our grandchildren’s history books
if these simple rules—be responsible, be
respectful and be truthful—had been followed
by all.
While we can’t change the past, we can
certainly speak up now to change the future.
4

CBI BANKER UPDATE | JUNE 2014

Greater protections against future crises and
additional financial diversity will help reduce
systemic risk, mitigate taxpayer exposure to
bailouts, promote competition and ultimately
provide essential credit to consumers and
businesses.
All of this is smart public policy. These are
important but not foolproof steps, and you
can’t legislate every good behavior in the
marketplace. Well-informed consumers should
have the ultimate say in who they want to do
business with. They should have the power to
make a final choice.
And we have that choice too, every day, to
say that we are going to live by the rules that
we set as standards for ourselves and for
others. Not all rules are bad. Sometimes they
are there for a reason. That’s why community

“As I want the best for my family,
I want the best for my customers.
When we follow these rules,
everybody wins.”
banks really have an opportunity to serve as
role models for Washington’s policymakers
looking to further rein in Wall Street’s careless
financial institutions. After all, we have a
time-tested, completely accountable business
model that’s based completely on the trust and
well-being of our customers.
So go ahead and know that by following the
rules and doing the right thing, you are making
a difference by setting the right example. You
are setting the bar high, and quite frankly,
when our customers, communities and
economy’s livelihood is on the line, that bar
ought to be high for everyone.
John H. Buhrmaster is Chairman of the ICBA
and President of 1st National Bank of Scotia,
in Scotia, New York.