|
|
|
|
|
THE PRESIDENT'S MESSAGE
By John Witkowski, President & CEO
IBANYS
Updates From IBANYS
This week, Governor Cuomo proposed his 2020-21 state budget in the face of a budget deficit of more than $6 billion.
It
called for no major tax hikes, and kept the uptick in state operating costs to 1.9%. IBANYS is reviewing the proposal to determine all sections relevant to community banks. Meanwhile, the Legislature continues its work in committees and on the floor on legislation, including bills of interest to community banks. Also this week, another
Republican state senator, Jim Seward (R-51st SD), announced he will not seek reelection -- the seventh incumbent GOP senator to do so.
On other fronts, IBANYS is finalizing our January 28 Compliance Conference in New York City, preparing for our January 31 IBANYS Board Meeting and working on additional conferences compliance officers and directors scheduled for the remainder of the first quarter.
Today's newsletter provides updates on all of these matters and more.
- - - - -
|
IBANYS is offering both our Compliance and Directors Conference in NYC - January 28 & February 4 respectively.
Both meetings will be held at Pryor Cashman LLP, 7 Times Square, 40th Floor, New York, NY.
See complete details and registration information in the meetings section below.
- Take a moment to review our 2020 IBANYS Meetings Calendar below, including the printable attachment. Mark your calendars, share it with your colleagues, and plan to join us for these important educational and networking sessions.
- I also encourage you to review our Webinar schedule, which offers a wide array of programs designed for community banks and their officers, directors and employees.
|
Follow IBANYS On Social Media!
Connect With Us Today!
|
Meetings
|
|
Mark Your Calendars For These Upcoming 2020 IBANYS Conferences:
IBANYS' 2020 Meetings Calendar is now available (see printable document above)
. . . Please note we are introducing
new meeting locations in New York City. We encourage all New York community bankers and IBANYS associate members, preferred providers, potential vendors, sponsors & exhibitors to
print it out, share it with your colleagues and "save the date."
Detailed agendas and registration information is attached for March 3 & 4 Compliance Conference and April 7 & 8 for the Directors Conference coming soon.
Compliance Conference
Pryor Cashman DoubleTree by Hilton Poughkeepsie Grand Hotel
7 Times Square, 40
th Fl. 1111 Jefferson Road 40 Civic Center Plaza
New York, NY 10036 Rochester, NY 14623 Poughkeepsie, NY 12601
212-421-4100 585-475-1510 845-485-5300
Directors Conference
Pryor Cashman RIT Inn & Conf. Center Poughkeepsie Grand Hotel
7 Times Square, 40
th Fl. 5257 West Henrietta Rd. 40 Civic Center Plaza
New York, NY 10036 Henrietta, NY 14467 Poughkeepsie, NY 12601
212-421-4100 585-359-7746 845-485-5300
- Have an idea for one of our meetings? Want to see a meeting or forum on a different subject? We want to hear from you!
-
|
|
|
IBANYS Education/Webinars
|
The Independent Bankers Association of New York State (IBANYS) partners with CBWN to bring you more than 150 webinars each year covering compliance, lending, regulations, security, operations, new accounts, collections, fraud, security and other topics. Not only that, but every time you purchase a webinar, you support IBANYS, because a portion of your registration comes directly to us. Thank you!
You can view the 2020 Webinar Schedule here or by category here. In addition, CBWN has made some recent updates to provide better service to its consumers. Unfortunately, some changes may have caused you to miss important webinar announcements.
CBWN and IBANYS thank you for your continued support of the education in the community banking industry.
Purchase Webinars Individually or Purchase the Series to Save 10%!
|
|
|
Albany |
The Governor's Budget Proposal
Governor Cuomo released his $178 billion state budget proposal for Fiscal Year 2020-21 that begins April 1.
The Legislature will now review, debate and negotiate the plan with the Governor's office in advance of the April 1 deadline. The plan would close a $6 billion deficit by reducing the growth in Medicaid, limiting aid to local programs and anticipating tax revenue to grow by $2 billion. Overall spending would grow 6%. No new tax increases were included;
State Budget Director Mujica said none were proposed, noting the top 5% of taxpayers already account for about 62% of the state's personal income tax revenue.
The Governor's budget plan would:
To read the Governor's full "Budget Book" Please click on the link below.
Recent Legislative Activity
S.7104 (Mayer), establishing a set 90-day grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated.
A.8686 (Kim)/S.6792 (Salazar)
, would establish the "empire state inclusive value ledger establishment and administration act" to create a master account and system of individual wallets to make and receive payments to state entities and residents of the state. The legislation was referred to Assembly Banks and Senate Finance Committees.
A.4618 (Wright)/S.2106A (Sanders)
, to require banks to disclose negative consequences
on
credit scores due to
alternative loan payment schedule
.
A.6070 (Seawright)/S.2397 (Comrie), would direct the State Department of Financial Services and the Department of State's Consumer Protection
Division to conduct a study on consumer awareness and financial education and make recommendations.
A.1935 (Zebrowski)/S.4188 (Kennedy), would require financial institutions to notify customers prior to charging them a
fee based on account inactivity
.
Another GOP Senator Won't Seek Reelection
Due to health reasons, State Senator
Jim Seward (R-51st SD) announced he will not seek reelection. The list of
GOP senators who will not return in 2021 now includes: Bob Antonacci (already elected a judge); George Amedore; Betty Little; Michael Ranzenhofer; Joe Robach; Rich Funke; Ken LaValle; Jim Seward. Two others (Robert Ort and Chris Jacobs) have announced they're running for the vacant congressional seat previously held by Chris Collins, who resigned. All but Lavalle are from upstate senate districts. Democrats currently hold 40 of the 63 senate seats.
|
Washington, D.C.
|
The U.S. Senate is immersed solely in the Impeachment trial of President Trump. The House is not in session this week, but will return next Monday.
ICBA: Repeal CFPB Small Business Data Collecting Requirement
ICBA supports legislation to repeal a requirement that the Consumer Financial Protection Bureau develop rules for collecting and reporting data on small-business lending. The Preserving Small Business Lending Act of 2020" (H.R. 5574) would repeal the mandate required by Section 1071 of Dodd-Frank. ICBA wrote: "Small business data collection and reporting will impose significant new and costly burdens on community banks and would only work to delay, thwart the availability, and raise the cost of credit."
Colorado Blocks Credit Union Purchase Of Community Bank
ICBA commended the Colorado State Banking Board for blocking the purchase of a tax-paying community bank by a tax-exempt credit union. In a nearly unanimous vote, the board found that the transaction would have violated Colorado statute requiring that banks be sold to other banks.
|
|
|
|
ICBA Action Alerts & Grassroot Efforts
|
Support ICBA Action Alerts Regarding Credit Unions
- IBANYS urges New York community bankers to support ICBA's "action alerts" -- including those involving credit unions, closing the ILC loophole and more. Make your voice heard in Washington. Use ICBA's "Be Heard"grassroots action center at www.icba.org
|
Banking Industry News
|
IBANYS Preferred Partners
|
For more information on IBANYS Preferred Partners - click here: https://ibanys.net/preferred-partners/
- Pentegra Retirement Services
- Luse Gorman, PC
- Freed Maxick CPAs
- T.Gschwender & Associates, Inc.
- Promontory Interfinancial Network
- Travelers
- ICBA
|
IBANYS Spotlight Is On...
|
|
S.R. Snodgrass, P.C. was built on a strong foundation of stability, integrity, and high-quality customer service. Since 1946, their independent accounting and consulting firm has assisted clients in an ever-changing world by taking a consultative approach. As The Banking Experts, they serve approximately 160 financial institutions. These professionals provide vast expertise in the areas of auditing and assurance, internal audit and regulatory compliance outsourcing, information technology, consulting, enterprise risk management, and tax management. The firm's focus on financial institutions provides
a critical advantage today with the fluctuating regulatory landscape. S.R. Snodgrass professionals are in financial institutions daily. This exposure to the financial industry means they're well-informed of the increasing scope and enhanced regulatory examination procedures.
For details visit
www.srsnodgrass.com
.
Or, contact
Christina
Lukas: clukas@srsnodgrass.com,
(724) 934-0344.
|
|
|
|
|
|
. . .
That the FDIC and Utah Department of Financial Institutions approved the Bank of St. George (a community bank) in December, bringing the number of de novos the federal agency approved in 2019 to nine? Overall, de novo activity slowed in 2019 after reaching a ten-year high in 2018.
|
New York community banks play a key role in our state and local economies. Help spread the good news among our customers, business, elected leaders and the media!
John J. Witkowski
President & Chief Executive Officer
Stephen W. Rice
Director of Government Relations & Communications
Linda Gregware
Director of Administration & Membership Services
William Y. Crowell III
Legislative Counsel
|
|
|
|