Strengthening Oregon’s Banking Future: Legislative Goals & Advocacy Outlook for 2025 By Scott Bruun, President & Chief Executive Officer, Oregon Bankers Association As we step into 2025, your OBA remains passionate toward fostering a thriving banking sector that serves communities, businesses, families and individuals across our state. As usual, the legislative and congressional landscapes present both challenges and opportunities. Nothing will be dull! But with a focused and proactive agenda, your OBA will advocate for policies that strengthen banks of all sizes, foster competitiveness and economic growth, and ensure a balanced regulatory environment that empowers businesses and workers alike. Strengthening Oregon’s Banking Sector One of our top priorities in 2025 is addressing the competitive inequities between banks and credit unions. Credit unions, which have long enjoyed unfair tax and regulatory advantages, must be held accountable when they engage in commercial activities traditionally associated with banks. To this end, the OBA will sponsor and prioritize legislation requiring credit unions to pay Oregon taxes on the loan and cash management portfolios of any Oregon-based commercial bank that they may acquire. This measure is not only about leveling the playing field but also about ensuring fair contributions to Oregon’s economy and vital public services. In addition, the OBA will sponsor legislation aimed at fostering the growth of new banking institutions. Start-up (de novo) banks can and should play a crucial role in Oregon’s entrepreneurial and economic landscape, but they face significant challenges in their early years. And in fact, it has been nearly 20 years since a de novo bank was formed in Oregon. To incentivize their establishment and success, the proposed legislation will provide these new banks with a multiyear exemption from state excise taxes. This initiative will offer new banks a stronger chance to establish their footing and begin contributing meaningfully to Oregon’s economy and the health of our local communities. Broader Advocacy for Oregon Businesses Oregon’s banks serve a diverse array of business customers, which makes every business issue a banking issue. Our advocacy efforts in 2025 will extend beyond banking-specific legislation to encompass broader economic policies that impact businesses statewide. In 2025, your OBA will support initiatives that: y Reform Oregon’s estate tax: Ensuring businesses can transition smoothly between generations without punitive tax burdens. y Index personal and business taxes to inflation: Protecting individuals and businesses from the unintended consequences of outdated tax brackets. y Expand pro-investment tax credits: Including the enhancement of the R&D tax credit and the introduction of a capital expenditure tax credit to support manufacturing. y Streamline regulatory frameworks: Promoting a businessfriendlier environment where regulators and businesses act as partners, not adversaries. y Strike a pro-worker, pro-business balance in employment policies: Supporting rules that benefit both Oregon’s workforce and its employers. Federal Advocacy: GrowthOriented and Transparent At the federal level, the OBA will work closely with our partners at the American Bankers Association (ABA) and MESSAGE FROM THE OBA PRESIDENT In 2025, your OBA’s mission is clear: to advocate for policies that strengthen Oregon’s banking sector and support the broader economy by improving our state’s business climate. 4 Winter 2025 • BANKING MATTERS
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