ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release July 14, 2005 #05-44
E-mail: [email protected]

ACB APPLAUDS FEC PAYROLL DEDUCTION DECISION

Press Release Tools
	E-mail This Press Release
	Printer-Friendly Format

Today, trade associations, small businesses and individuals won a great victory when the Federal Election Commission adopted a final rule allowing member companies of trade associations to offer their employees the option to use payroll deductions to make political contributions.

America’s Community Bankers was the driving force behind this rulemaking because we thought it important to bring to the FEC’s attention the dramatic changes in the payment habits of Americans since the prohibition on use of payroll deductions took effect in 1976. The FEC ruling is a further recognition that Americans have adopted electronic payments as their preferred means of completing financial transactions. Payroll deductions are a “painless” way to make annual contributions spread out over time.

For many individuals and employees of small businesses, a trade association PAC often is the only vehicle, other than through a single contribution, for individuals to add their voice to the political process. Increased participation in the electoral process is a goal we can all support.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

-30-