LANSING, Mich., 2022– The Michigan Bankers Association (MBA) has chosen Representative Diana Farrington as the 2022 Economic Impact Award recipient. The Economic Impact Award (EIA) recognizes public officials for their outstanding leadership on matters of public policy supporting and encouraging a vibrant Michigan economy.
“The MBA celebrates Representative Diana Farrington on her ongoing efforts to create responsible public policy noting especially her work on financial literacy. Her commitment to creating a program in our schools was unwavering…from her first days in office…until the bill was signed by The Governor,” stated T. Rann Paynter, President and CEO, Michigan Bankers Association.
“I’m proud and honored to be recognized by the Michigan Bankers Association, and to receive the 2022 Economic Impact Award,” stated Representative Diana Farrington. “Throughout my three-terms in the Michigan House of Representatives, I’ve worked diligently to ensure that our state legislature addresses the economic and financial needs of Michiganders across the state. From implementing common-sense financial education legislation to working on tax cuts for hard-working Michigan families, I’m extremely proud of the work that has been accomplished during my tenure – and I thank the MBA for the kind recognition, and their friendship along the way.”
Representative Farrington was elected to the Michigan House in November 2016 to represent the people of the 30th district in Utica, Sterling Heights, and Shelby Charter Township. Shortly after being elected to office, Representative Farrington was named Chairman of the Committee on Financial Services. She has led the committee for more than 5 years on a variety of issues, consistently demonstrating her understanding of banking and its important role for customers, businesses, and communities. Farrington also serves on the committees on Commerce & Tourism, Workforce Trades & Talents, and Tax Policy.
Perhaps her most passionate area of policy is financial literacy. Chairwoman Farrington has introduced each year resolutions in the House in April to give greater focus to Financial Literacy Month and the need to better educate youth and adults in this effort. In her first year, Farrington introduced a bill to require financial literacy in high school. A similar but different bill to require a half credit in the Michigan Merit Curriculum was introduced in 2021 and with the support of the MBA and a host of other dedicated coalition members, passed both the Michigan House of Representatives and Michigan Senate with near unanimous numbers and was signed by Governor Whitmer in June. This legislation will have a long-lasting positive impact on all Michigan graduates and the Michigan economy. Farrington has sponsored and passed legislation to assist the industry on Michigan State Housing Development Authority (MSHDA) related housing finance, notary, exemptions to personal property tax, defined cryptocurrency and money laundering in the penal code, and modified appraisal management company requirements. She also brought forth a resolution last year against the IRS tax reporting policies the industry fought against.
Chairwoman Farrington has worked to ensure good policy moves forward for the industry to promote the best economic outcomes for her constituents and Michigan. She has sought out, fostered and grown relationships with bankers in her district and across the state.
About the Michigan Bankers Association
The Michigan Bankers Association (MBA), the voice of the banking industry since 1887, consists of Michigan financial institutions with more than 2,800 branches located throughout the state. The MBA promotes strong communities and economic activity in Michigan by advancing a positive business environment. MBA assists banks by offering products and services to reduce expenses and increase profitability through the strength of the association.
For more information, visit www.mibankers.com
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