Top Banking Lobbyist Retires

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WASHINGTON – The American Banker Association on Monday said Floyd Stoner, its chief lobbyist, is retiring at year end after 26 years with the leading banking lobby.

The ABA said senior lobbyists Ken Clayton and James Ballentine will assume operational responsibilities for the congressional relations and public policy division next year, with Clayton becoming chief counsel and senior vice president of legislative affairs and Ballentine serving as senior vice president of congressional relations and political affairs.

Stoner’s retirement comes a year after the retirement of Ed Yingling, Stoner’s predecessor as chief lobbyist who spent the previous 10 years as president of the ABA. During those years the ABA has been credit unions’ chief nemesis in Congress and in the courts, often working to thwart credit union ambitions, such as efforts to get the member business loan limit raised.

Credit union lobbyists expressed their respect for the longtime banking lobbyist. “He’s a professional of the highest order and a most worthy opponent,” said John Magill, chief lobbyist for CUNA. “We obviously disagreed on basic issues, but it was never personal.”

 

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