Having representation in Washington, D.C. is good insurance. Insurance carriers don't allow you to place coverage after a loss has been incurred. Trying to make friends when you have a problem would be nice but doesn't work very well in Washington. We can point to many cases when our clients' relationships kept them from becoming poster children for one problem or another. In other words, good representation can keep an institution out of the line of fire or help it salvage a bad situation.
Second, often banks have priorities that vary from their trade associations. This can arise even though the association is on the same side of the issue, but the priority can differ. This is when a bank needs its own friends and supporters.
Monument Strategies was an integral counselor to our banking clients during our Nation's most sweeping financial reform legislation in decades. We are ready and able to do the same for your institution.