Your Banker May Kill You

But it isn’t his fault.

Image result for mafia hit man

Killing you… financially.

The Federal Government has turned your banker into a financial hit-man.  Here’s how it works:

You have faithfully made your mortgage payments for years.  Your credit score is excellent.  You only owe 30% of the value of your property.  The loan is amortized over 20 years, with 12 years remaining.  All of your payments are current.  You have the money to make your next payment.  Everything is good, right?


A certified letter from your banker (via the banks attorney) notifies you that the bank is calling your loan due.  It’s like a financial death sentence.  It puts you out of business overnight.  You have no choice but to sell your property for whatever you can get or lose it to foreclosure.

That is the financial death sentence hanging over the head of business owners all over America.

Why would your banker do this to you?

Because your “Global income to debt ratio” isn’t acceptable.  It doesn’t comply with the standards now set by Federal Banking regulations.  In short, the Federal Banking regulators will make your banker issue this (financial) death warrant.

Being in business means that you will have good years and bad years.  You plan for it and manage to survive the downturns in markets.  Now, if you have a year when you lose money… or even if you make money (just not enough to satisfy the regulators), you may find out what it feels like to have the mafia issue a contract on your life.  It’s not much different.

If you are a farmer or a rancher, you understand what happens when it doesn’t rain or when the markets crash.  Now you have to worry about your “Global income to debt ration”.  It could be the death of you.

So if your banker isn’t to blame, who is?  It’s your Senators and Representatives in Washington DC.  They are responsible for passing the Dodd-Frank Act.  Even if they “voted against it”, they are still responsible for it.  They will continue to be responsible for it until they change it.

In South Dakota, those responsible are Senator John Thune, Senator Mike Rounds and Representative Kristi Noem.  They need to lead the charge (DO whatever it takes) to get rid of this business-killing regulation.  They need to be held accountable.  They need to hear from you.

Call them.

Senator John Thune
Phone: (202) 224-2321
Fax: (202) 228-5429
Toll-Free: 1-866-850-3855

Senator Mike Rounds

Phone: (202) 224-5842
Toll Free: (844) 875-5268
Fax: (202) 224-7482

Representative Kristi Noem

Toll-Free Phone: (855) 225-2801
Phone: (202) 225-2801
Fax: (202) 225-5823


Editorial update:

AFTER I POSTED THIS ARTICLE, I spoke with a senior staffer from Senator Thune’s office.  He assured me that Congress should have this issue resolved by the August recess.  He also said he would suggest they recommend an executive directive “not to enforce” these regulations between now and the time Congress gets the legislation passed to eliminate the regulations.

That is good news for millions of American businesses.

IF… they get it done.


***Gordon Howie is an author and CEO of Life and Liberty Media***

Gordon“It’s not about right or left, it’s about Right or Wrong.”

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