Quotes For The Week. . .
"...We are taking a fresh look at how we supervise community banks and possible ways that supervision can be smarter, more nimble, and more effective. In that regard, and consistent with my earlier points about too big to fail, we know that a one-size-fits-all approach to supervision is often not appropriate."
- Federal Reserve Chair Janet Yellen
"Community banks represent a strong economic engine that drives growth in New York and their performance is remarkable. Small business is the engine of job growth and most small business loans come not from the big national banks, but from community banks."
- New York Governor Andrew Cuomo
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Your IBANYS Team:
Working Together To Make 2016 A Great Year
For New York C
ommun
ity Banks
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Have You Contributed to NYSIBPAC This Year?
If not...now is the time! We need your help in this statewide election year to support candidates and committees who understand community banks' needs. Can we count on you?
CLICK HERE for our 2016 PAC contribution form. Help support IBANYS' political action efforts in New York State.
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For more information, visit:
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GOVERNMENT RELATIONS
ALBANY
Governor Signs "Zombie Property
Bill
Into Law
Governor Cuomo last week signed legislation "to prevent foreclosures and curb the threat posed to communities by 'zombie properties'" at events throughout the state. The bill, passed as part of the 2016 legislative session, addresses the issues of vacant and abandoned properties by "expediting the rehabilitation, repair and improvement of these properties, and enabling the State to assist homeowners facing mortgage foreclosure."
Governor Cuomo:
"For each zombie home that we cure and for each that we prevent with this legislation, we are saving entire neighborhoods from the corrosive effect of blight and neglect."
NYS S
enate Majority Leader Flanagan:
"Working together, we have passed a responsible measure to address the abandoned and decaying homes in many of our communities known as 'zombie properties. By doing so, we will reverse blight, protect property values and strengthen our economy for the future." Flanagan thanked Senator Jeff Klein, leader of the Independent Democratic Conference and the GOP's majority coalition partner.
Sen. Klein:
"Today is a victory for every community in New York State. From The Bronx to Buffalo, zombie properties impact every corner of our state resulting in blight and diminished property values for surrounding homeowners....now banks will maintain abandoned properties stuck in the legal limbo of foreclosure. Broken windows, open doors and falling facades will no longer mar our communities, and if banks fail to comply, our law empowers the Department of Financial Services to take court action, issue violations and fines."
Assembly Speaker Heastie:
"While our economy has taken strong and sure steps toward full recovery, high foreclosure rates continue to affect New Yorkers around the state. It is critical that we do all we can to help people remain in their homes and keep neighborhoods safe. This agreement will provide the assurance of stronger protections against predatory foreclosure practices, a more expedient process for transitioning these properties to help communities move past foreclosure, and toward opportunities for home ownership."
IBANYS successfully advocated for exemptions for community banks,
and the final agreement
provided a "carve out" that will apparently benefit and exempt the vast majority of IBANYS members and New York community banks.
The carve-outs are based on a formula of a bank's one-to-four family mortgage loans vis-a-vis the total number of such loans made in the State.
Click here, here and here to read the language of the legislation, and the announcement of the new program.
New York Congressional Primary Results
Yesterday was primary day in a number of congressional districts across New York State. Four incumbent Representatives are not seeking re-election, and in several other districts were selecting candidates from one party or the other.
- In the 22nd C.D. (Central NY): GOP Rep. Richard Hanna is retiring, and GOP Assemblywoman Claudia Tenney will face Democratic businesswoman Kim Myers and potentially a self-funding independent candidate.
- In the 24th C.D. (Syracuse area): Democrat Colleen Deacon, a former state staffer for U.S. Sen. Kirsten Gellibrand, will face incumbent GOP Rep. John Katko.
- In the 3rd C.D. (L.I.): Democrat incumbent Rep. Steve Israel is retiring, and former Suffolk County Executive Tom Suozzi will face GOP State Senator Jack Martins.
- In the 1st C.D. (L.I.): TOO CLOSE TO CALL. The race between Democrats Anna Throne-Holst and Dave Calone was too close to call late Tuesday night, with Throne-Holst ahead by 29 votes. The winner will face incumbent GOP Rep. Lee Zeldin.
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In the 13th C.D. (Harlem, Bronx):
TOO CLOSE TO CALL. Longtime Democrat Rep. Charles Rangel is retiring, and late Tuesday State Sen. Adriano Espaillat (D) narrowly led S
tate Assemblyman Keith Wright (D) 37% to 34% in a crowded field.
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In the 18th C.D. (Hudson Valley):
Republican Phil Oliva, a communications professional and senior aide to Westchester County Executive Rob Astorino, will face incumbent Democratic Rep. Sean P. Maloney.
New York State will see a number of high-profile, competitive congressional races this November. Control of the NYS Senate will also be up for grabs.
Republicans seek to maintain their governing coalition majority with the Independent Democrats Caucus (IDC) or regain an absolute
majority, while Democrats hope to win the majority with Hillary Clinton at the top of their ticket.
REMINDER: IBANYS Annual Convention will feature a timely and important pre-election review and discussion by highly regarded Siena Pollster and political analyst Steve Greenberg.
WASHINGTON, D.C.
Chairman Hensarling's "Financial CHOICE" Act
House Financial Services Chairman Jed Hensarling (R-TX) has released a "discussion draft" and summary of legislation offering legislative relief for
 community banks and other financial institutions. His Financial CHOICE Act incorporates a number of provisions from ICBA's "Plan for Prosperity" reg relief platform, which IBANYS has strongly endorsed and advocated for in meetings with the New York Congressional Delegation. They include reforming the CFPB, easing mortgage rules on portfolio loans, requiring tailored banking regulations and repealing the Durbin Amendment. It would also allow banks of all sizes to "off-ramp" from Dodd-Frank and Basel III Rules if they meet certain standards.
Hensarling plans to hold a markup of his plan in September, according to a committee spokeswoman.
He unveiled the broad proposal on June 7. It would also
end the Financial Stability Oversight Council's ability to designate "systemically important financial institutions" and exempt banks from certain regulations if they meet a 10% leverage ratio requirement.
ICBA Chair Testifies On Bank Capital
& Liquidity Regs
In testimony to last week's Senate Banking Committee
hearing on bank capital and liquidity regulations, ICBA Chair Rebecca Romero Rainey said community banks are struggling under the weight of Basel III's capital rule and urged exemptions
 them from those regulations. She stated:
"Applying the rule to community banks in a one-size-fits all manner harms the consumers and businesses we serve."
She called for community banks to be exempt from the Basel III rule, saying it drowns small bank operations in complex reporting requirements, makes it harder for them to give home loans and stifles consumer access to credit. Romero Rainey urged passage of H.R.
3791
, sponsored by Rep. Love (R-UT), to raise the consolidated assets threshold to $5 billion and help small banks meet capital requirements.
The House passed the measure in April; the Senate has taken no action on the legislation.
ICBA also supports two related Senate measures that have not yet received a vote in the Senate Banking Committee.
In other federal notes:
- Reuters reports that the Government Accountability Office added three federal agencies to its probe into whether financial regulators are deferential toward the institutions they monitor. The watchdog will investigate the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the National Credit Union Administration.
- Sen. Sherrod Brown (D-OH), ranking Democrat on the Senate Banking Committee, warned the U.K.'s vote to exit the European Union could prompt a return to a "patchwork" of international banking rules. He said this loose framework would be reminiscent of pre-crisis standards that allowed financial institutions to skirt regulatory oversight.
IBANYS MEETINGS & CONFERENCES
IBANYS' 42ND ANNUAL CONVENTION:
October 3-5,
The
Turning Stone Resort
IBANYS' 42nd Annual Convention will take place at The Turning Stone Resort October 3-5. We'll have a  full menu of top notch speakers and presenters, including Steve Greenberg, a veteran political analyst and commentator who will preview the critically important 2016 election for community banks. With every member of the New York State Legislature and New York Congressional Delegation up for election, and control of the State Senate expected to be hotly contested, it will be a timely presentation. Steve Greenberg will be our closing keynote speaker Wednesday morning, October 5.
Ray O'Conor will be our opening night Keynote speaker
Monday evening, October 3
. Ray is a former President of Saratoga National Bank & Trust and former IBANYS Chairman. He is the author  of
She Called Him Raymond: A True Story of Love, Loss, Faith and Healing --
a candidate for the 2016 Pulitzer Prize for non-fiction.
Ray has also been a newspaper columnist,
Special Agent with the U.S. Department of Defense and U.S. Border Patrol Agent. His presentation will share the story behind his book, and provide a look into the true tale of two ordinary people who led extraordinary lives during the most tumultuous of times.
Of course, we'll have a full menu of speakers, panel discussions and presentations on the most important issues and trends impacting New York community banks:
- Bank cybersecurity from a Senior Management Perspective
- Liquidity Strategies
- Merger & Acquisition Update
- Implementing A Successful ERM Process
- Mobile Wallets
- Optimizing Your Branch Delivery System
- . . .and so much more!
. . .PLUS,
our traditional business show, silent PAC auction, 6-Minute Drills for preferred providers/associate members and much more!
Watch for program details and sponsorship opportunities.
INDUSTRY INSIGHTS
Digital Signage: A Friend of Nature?
(A Guest Article by
Ridgelogic Development, a digital signage and content solutions provider)
The 21st Century has brought a new perspective of the world around us, and we have made leaps and bounds as a society in trying to preserve our planet. Helping to neutralize our carbon emissions, and reduce our waste is often the first consideration a business owner makes when taking the leap to go green. Sometimes, the proper investments for running an environmentally friendly business can be hiding in some less-than-obvious places.
Digital signage is a potential workhorse for contributing to any green initiative by producing less waste than traditional ad mediums. Purchasing digital signage for your business brings in only a handful of devices that are designed to remain running for years at a time. By contrast, paper advertisements, flyers, mailers, and other sales materials often end up in landfills as soon as their promotion is over.
Digital signage is a fast, effective, convenient, and green alternative to traditional advertising mediums. Cloud based content management allows you to distribute product information, improve message compliance rates while building trust and reinforcing community involvement at all of your locations instantaneously, and it gets seen. Digital Place-Based Media is proven to be more memorable and noticeable than other forms of advertisement including television and radio.
Digital signage can be added to any branch strategy, new or existing , so ask yourself if you're ready to go green by investing in an ad medium that is efficient, flexible, and environmentally friendly.
Ridgelogic Development is a Digital Signage and Content solutions provider. For details, please email Info@
ridglogic.com
or call
716-898-8961
.
Don't Miss CSI's Next Complimentary Semi-Annual Cybersecurity Update Webinar
Thursday, July 21, 2016
1:00 - 2:00 PM
Speaker:
Steve Sanders, Vice President of Internal Audit
I
n this exclusive update, the team of cybersecurity experts from Computer Services, Inc. (CIS) will walk you through the 20 questions the FFIEC wants your board to answer about cybersecurity risks. The FFIEC has questions, and CSI has answers. Get the facts so your board is prepared to answer these questions, and so you can rest easy knowing your financial institution is protected from cybersecurity risks.
- U.S. consumer spending rose for a second straight month in May on increased demand for automobiles and other goods. The U.S. Commerce Department today said consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4 % last month, and that consumer spending in April was revised up to show it advancing 1.1% instead of the previously reported 1.0%.
- Signed contracts to buy existing homes fell 3.7% in May compared to April, according to the National Association of Realtors. April's reading was revised down. These so-called pending home sales were 0.2% lower than May of 2015, the first annual drop since August of 2014. Regionally, pending home sales in the Northeast dropped 5.3% for the month and unchanged from a year ago.
IBANYS Member Services Programs:
Are YOU Taking Advantage?
IBANYS has introduced several initiatives which can provide real value and bottom line benefits to New York community banks. Take a moment to review these programs. If you have any questions, contact us, or visit
www.ibanys.net. We hope you'll decide to take full advantage of these exciting opportunities.
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IBANYS and NYBDC have announced
a partnership with Excelsior Growth Fund (EGF), a nonprofit Community Development Financial Institution formed by New York Business Development Corporation (
NYBDC). EGF is endorsed by IBANYS as the exclusive online lending partner for association
 members.
EGF provides innovative financial solutions and business advisory services to underserved small businesses in New York State through a fast, simple and secure online lending platform. Its core product is the EGF SmartLoan™, which features amounts up to $100,000, approvals within 1-2 days and disbursements within one week. Importantly, interest rates a fraction of those typically offered by online lenders.
EGF offers banks a unique customer retention solution when a customer either does not qualify for a bank's loan offerings, or is seeking the fast,
transparent process available through online lenders. To facilitate retention, EGF shares performance information on the referred loan portfolio on a quarterly basis and offers the opportunity for the bank to purchase referred loans at par at any time.
Additional details on the EGF SmartLoan, including eligibility criteria, are available at:
- The "My Wellness Resource Card" offers a low-cost, non-traditional program to help community banks to save time and money. It helps provide on demand health care from U.S. board-certified doctors who provide
 diagnosis, treatment options and necessary prescriptions via unlimited telephone medical consultations. The My Wellness program offers discounts and significant savings on a variety of medical and dental products, and is designed to improve productivity, decrease absenteeism and boost morale without straining your bottom line. It's an exciting new way for community banks to provide health care benefits, reduce cost and retain employees. For more information, contact Alan Justin, Managing Partner at (716) 907-5500.
- We also joined the "Cure the Blue" effort to raise funds and awareness regarding prostate
 cancer in New York State. We are partnering with the Buffalo Bills Alumni Foundation, and hope to see a number of IBANYS members participate. Please join us in supporting this worthwhile cause. Visit www.curetheblue.com to get involved!
New York Community Bank Officers, Directors & Employees:
Sign Up For IBANYS Webinars!
On a daily basis, New York's community banks must cope with an ever wider array of challenges. Your officers, board members and employees understand that their responsibilities -- and, potential liabilities -- are not about to diminish. Are you doing everything possible to provide the latest information and tools required to help them meet their responsibilities, and properly prepare the bank for the future? Here's one outstanding -- and incredibly easy -- way to do just that: Sign them up for
IBANYS' webinars. Our programs are specifically designed to meet the needs of New York community banks. The webinars are both effective -- and, cost-effective. Your officers, directors and employees can participate directly from the ease and comfort of their offices. Over the past two years, the number of bankers participating in IBANYS webinars has risen significantly. Join
your industry and association peers and take full advantage of these timely webinars.
Review our upcoming programs by clicking the link below:
https://ibanys.fed.financialedinc.com/store/webinar
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CEIS Review was established in 1989 for the specific purpose of providing professional services to banks and other financial institutions.
The company is independent in ownership and its practice. The primary business focus is assessing the quality of loan portfolios and their management independent of any potential conflicts from affiliated business activities or interests.
The CEIS Review mission is to be the preeminent provider of independent outsourced loan review, loan portfolio stress testing, ALLL methodology validation or refinement, as well as being a provider of related commercial credit management techniques to financial institutions worldwide.
Their commitment is to commercial banks, savings banks, credit unions, foreign branches and agencies, multinational organizations and other firms requiring a third party assessment of loan portfolio quality and process.
Their commitment to excellence includes delivering clear & concise reporting, utilizing cutting edge credit and portfolio management techniques, maintaining an objective viewpoint, providing adequate flexibility to clients needs and consistently staying ahead of emerging industry and regulatory matters.
For more information, visit the website at
www.ceisreview.com, contact or contact Justin Hill, Marketing Manager at
(212) 967-7380, email
[email protected]
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. . .
That community banks of New York have a history dating back over 150 years? The Independent Bankers Association of New York State was established by a group of local independent community banks in 1974, to ensure they had a presence and a voice in the state legislative and regulatory arenas.
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New York community banks play a key role in our state and local economies. Help spread the good news among your customers, business and elected leaders and media! |
| Click here for quotes from Governor Cuomo and DFS Superintendent Lawsky extolling the performance and value of New York community banks. |
| Click here for the full NYS Study on community banking. |
| Click here to read IBANYS President & CEO John Witkowski's comments on the new tax changes and benefits for New York community banks as approved in the 2014-15 State Budget. Click here for IBANYS' letter to the Editor of Consumer Reports Magazine correcting failure to mention community banks as an alternative to using "big banks." _________________________________ |
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John J. Witkowski
President and Chief Executive Officer
Stephen W. Rice
Director of Government Relations and Communications
Linda Gregware
Director of Administration and Membership Services
William Y. Crowell, III
Legislative Counsel
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