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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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IBANYS' ANNUAL CONVENTION:
October 3-5, The Turning Stone Resort
IBANYS' Annual Convention is October 3-5 at the Turning Stone Resort & Casino in Verona, NY.
The agenda is filled with outstanding speakers and presentations, including two notable keynote speakers:
- Ray O'Conor (former President of Saratoga National Bank & Trust and a Past IBANYS Chairman)
- Steve Greenberg, veteran New York State politics analyst/ commentator/Siena College Pollster
Ray O'Conor 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. Ray will kick off our convention Monday evening, October 3.
Steve Greenberg will preview the critically important 2016 election for community banks. Every single member of the New York  State Legislature and New York Congressional Delegation is up for election, and control of the New York State Senate is definitely expected to be hotly contested. A number of key congressional races are also up for grabs, and results could impact the balance of control. Steve will be our closing speaker Wednesday morning, October 5.
In addition to our keynoters, we'll have a full menu of speakers, panel discussions and presentations on the most important issues and trends impacting New York community banks.
We have invited a select group of speakers to present a variety of timely and important topics -- from innovative trends in banking such as cashless societies, to the basic "blocking and tackling" of banking such as building a successful ERM.
Of course, along
with the serious business program, we would like you to have a little fun as well. You can register to play golf, take a little time and enjoy the spa, do a little shopping and  participate in IBANYS' first "Texas Hold'em" poker tournament. We also have a few other surprises that are being planned.
There will be plenty of great food and drink, outstanding opportunities to network with fellow bankers and to learn more about the companies that support our industry throughout the year, and sponsor and support IBANYS and our convention annually.
Last but not least,
our traditional PAC auction is the highlight of our convention -- with all proceeds going to our state political action committee, NYSIBPAC. Every year, we have great auction items and I look forward to having more at the Turning Stone 2016. PLUS, we'll have
our traditional business show, and we're bringing back last year's successful "6-Minute Drills" for preferred providers/associate members.
TO REGISTER:
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Associate Members, Preferred Providers, Exhibitors
Click Here
We are looking for a great turnout, so register early and book your rooms ASAP.
As always we thank you for your support and let's make this convention the best yet!
Sign Up For Tomorrow's
Special Webinar:
CSI's 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 you can know your financial institution is protected from cybersecurity risks.
Monthly Cyber Security Tips Newsletter Available
The July Cyber Security Tips Newsletter "Going for Gold in Cybersecurity" newsletter from the NYS Office of Information Technology Services  Enterprise Information Security Office (NYS ITS EISO)
is now available. The monthly newsletter, developed by the Multi-State Information Sharing and Analysis Center (MS-ISAC), provides helpful cyber security tips.
The newsletter is available on the ITS EISO website at
http://its.ny.gov/eiso/awareness-training-events/news
.
The information provided in the Monthly Cyber Security Tips Newsletters is intended to increase the security awareness of an organization's end users and to help them behave in a more secure manner within their work environment.
Organizations have permission and are encouraged to brand and redistribute this newsletter in whole for educational, non-commercial purposes.
INDUSTRY INSIGHTS
IBANYS President Witkowski
Joins
ICBA Securities Board
IBANYS President & CEO John Witkowski has been named to the Board of Directors of ICBA Securities, Inc., the broker-dealer subsidiary of the Independent Community Bankers of America (ICBA).
Mr. Witkowski also serves as a member of  ICBA's Tax Committee.
ICBA Securities was licensed in 1989 following two years of intensive research by ICBA's Bank Services Committee. As part of its research, the Bank Services Committee hired a bank consulting firm that helped them develop a comprehensive Request-For-Proposal that was distributed to 33 firms nationwide. Based on the proposals submitted and lengthy interviews over a six month period, the Committee selected Vining Sparks to serve as ICBA Securities' clearing broker. ICBA Securities was founded by the ICBA to provide community bankers with quality investment products, services and education at competitive prices. To learn more, contact ICBA Securities President Jim Reber at (800) 422-6442.
Millennials Perspective
Asked to rank a list of issues in order of importance to them when considering a presidential candidate, millennials gave priority to the economy and  terrorism. A survey, of 1,000 Americans aged 18-29 by the Harvard Institute of Politics found
about a third said improving the economy was their most important consideration, followed by 12% focusing on the fight against terrorism and 10% reducing inequality. Only 5% said reducing the impact of money in politics was their top concern, while just 2% said reforming Wall Street.
GOP Platform: Focus On Dodd-Frank,
Glass-Steagall Acts
A top advisor to GOP presidential nominee
Donald Trump said the party wants to
reimplement Glass-Steagall, which was repealed in 1999. The 2016 GOP platform statement says:
"We support  reinstating the Glass-Steagall Act of 1933 which prohibits commercial banks from engaging in high-risk investment." The GOP platform also highlights the decline in the number of community banks in the U.S. It says Dodd-Frank is "regulatory harassment of local and regional banks," arguing that it and the Consumer Financial Protection Bureau "would leave us with just a few enormous institutions, as in many European countries." It
also implicitly endorses the House Financial Services Chairman Hensarling's (R-TX) proposal to exempt banks from numerous financial regulations if they maintain capital holdings at a certain threshold:
"Republicans believe that no financial institution is too big to fail. We support legislation to ensure that the problems of any financial institution can be
resolved through the Bankruptcy Code. We endorse prudent regulation of the banking system to ensure that FDIC-regulated banks are properly capitalized and taxpayers are protected against bailouts."
Davis Polk & Wardwell, LLP tracks progress of the Dodd Frank rulemaking process. This week marked the Act's sixth anniversary.
- As of July 19, 2016, 271 rulemaking deadlines have passed. Of the 271 rulemaking requirements with deadlines that have passed, 210 (77.5%) have been met with finalized rules and rules have been proposed that would meet 29 (10.7%) more. Rules have not yet been proposed to meet 32 (11.8%) passed rulemaking requirements.
- Of the 390 total rulemaking requirements, 274 (70.3%) have been met with finalized rules and rules have been proposed that would meet 36 (9.2%) more. Rules have not yet been proposed to meet 80 (20.5%) rulemaking requirements.
(Source: Davis Polk & Wardwell, LLP)
GOVERNMENT RELATIONS
The New York State Legislature is adjourned until the new session begins in January, 2017. Congress stands in recess until September. Nevertheless, federal and state activities still occur that impact community banks.
Washington, D.C.
Senators Urge CFPB To Tailor Regulations
For Community Banks
ICBA praised a letter signed by 70 U.S. Senators urges the
Consumer Financial Protection Bureau to tailor
its regulations to match the unique nature of community banks. It urges the CFPB to consider the impact of its rules on community banks. ICBA's "Plan for Prosperity" legislative program, endorsed by IBANYS, calls for lessening the burden of CFPB regulations on community banks. ICBA and IBANYS continue to support H.R.4099/S.483 (the CFPB Examination and Reporting Threshold Act), and H.R. 2896/S.3153 (the Tailor Act) as well as other still pending regulatory relief initiatives.
Albany
DFS Transaction Monitoring and
Filtering Program Regulation
The final regulation, which takes takes effect on
January 1, 2017, reflects comments and recommendations made by IBANYS during negotiations
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- One change of note in the proposed final regulation: the requirement that the bank's chief compliance officer sign an official certification of the bank's anti-money laundering compliance was not included. Rather, senior officers or members of the board are required to execute a certification that the bank's protocols meet the requirements of the regulation. Each bank must submit a board resolution on a senior officer's compliance finding by April 15 each year. This issue of certification by the compliance officer was raised by IBANYS in its comments on the regulation.
- The proposed final regulation also deletes the criminal penalties for incorrect or false certification, which were included in the draft regulation. IBANYS provided negative comments on criminal liability. The program design for the purpose of monitoring transactions may be manual or automated and be based on the risk assessment of the institution. IBANYS did point out in its comments the necessity for retention of manual processing for smaller banks because of the IT system costs, as it appeared that the proposed regulation made manual system non-compliant. IBANYS requested a carve-out which was not provided. The risk assessment of the institution should ensure that an excessive monitoring program is not mandated. The determination as to risk assessment is critical in the application of this regulation.
Latest Poll: Clinton Leads Trump, Schumer Leads Long, Cuomo Holding Steady
The new Quinnipiac Poll released this morning found
a majority of voters consider corruption to be a "very serious" problem in New York, but Gov. Cuomo's job approval rating held steady at 50%, with 40% disapproving. 33% gave Cuomo a "B"  grade for the job he's doing, 13% gave him an "A" and the same percentage give him an "F".
56% said corruption remains a top problem, but
50% are skeptical legislators and the Governor will do anything to improve ethics measures in Albany.
On the upstate economy, voters were split as to whether Gov. Cuomo's efforts will be successful: 38% believe his policies will work, 39% percent don't. A
mong upstate voters themselves, 53% believe his efforts will fail.
Only 29% of upstate voters rated the economy as "good"; 40% percent believe it's "not so good" and 28% rated it "poor".
In the presidential race in New York
, Hillary Clinton had a 12-point lead over Donald Trump, 47%-35%. Clinton held a 3-to-1 advantage in New York City, while Trump held a 12-point lead upstate and a one-point lead in the downstate suburbs. Both had high unfavorables: Clinton's favorability/ unfavorability rating was 41%-52%, while Trump's was 32%-61%.
In New York's U.S. Senate race,
incumbent Democratic Chuck Schumer leads Republican challenger Wendy Long, 60%-28%, and is ahead among every gender, age and regional group.
New York State voters approve of the job Schumer is doing by 62% - 29%, and give him a 57-25% favorability rating.
74% haven't heard enough about Long to form an opinion of her.
Voters approve 56 - 22 percent of the job Sen. Kirsten Gillibrand is doing, and
approve of the job President Barack Obama is doing by 56 - 40%, his best score in more than three years.
IBANYS Member Services Programs:
Are
YOU Taking Full 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. Is YOUR community bank providing the information and tools required to help them meet their responsibilities, and properly prepare the bank for the future? Here's an outstanding -- and convenient -- way to do so. Sign them up for
IBANYS' webinars, designed to meet the needs of New York community banks. The webinars are 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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isit www.kafafiangroup.com or contact President & CEO Bob Kafafian at
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. . .That before this week, it had been 68 years since a New Yorker has been nominated by one of the two major political parties to run for president since 1948, when New York Governor Thomas Dewey was the GOP candidate for the second straight cycle? With Donald Trump's nomination by Republicans this week, and Hillary Clinton's anticipated Democratic nomination next week, that long wait is over, and a New Yorker will win the presidency for the first time in 72 years, since Franklin Roosevelt in 1944.
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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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