CBW Organizes 7th Congressional District Candidate Forum

The Republican candidate Sean Duffy, Daryll Lund, CBW President and CEO, and the Democratic candidate, Wisconsin State Senator Julie Lassa during the 7th Congressional District Candidate Forum

Community Bankers of Wisconsin invited the Democratic and Republican candidates for the 7th Congressional District seat to a forum exclusively for community bankers in Wausau on August 2, 2010. The forum attracted over 20 community bankers from the district and marked the first time where the two leading candidates appeared together in a head-to-head meeting.

The Republican candidate, former Ashland County District Attorney Sean Duffy, and the Democratic candidate, Wisconsin State Senator Julie Lassa, responded to questions submitted in advance from the bankers, as well as comments and questions from the floor.

The interchange proved lively and illuminating. The candidates shared their perspectives on the partisan Congress, taxation, and job creation. The community bankers learned why Lassa supported the Dodd-Frank Financial Reform Act and Duffy did not. The candidates heard about the definition and tax advantages of credit unions and the impact of farm credit agency lending, Fannie Mae and Freddie Mac on community banks.

Regarding the Dodd-Frank Financial Reform Act, Lassa said: "We can't afford to look away from the destruction caused by the big Wall Street banks ... The bad apples on Wall Street shouldn't affect the reputation of the community banks. I believe it should be a two-tier system. I believe that our community banks are a lifeline to our small businesses."

Duffy commented: "I didn't support the bill. We have problems, but a 2,300-page bill is too massive. We used the crisis as an opportunity to massively reform how business is done. I think there's great exposure for all of you" [in the form of regulations to follow].

A more complete report of the meeting will appear in the July/August issue of Wisconsin Community Banking News.