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WVBankers Legislative Day and Legislative Reception A Success
Representatives from 32 of our member banks and associates attended the 2020 WVBankers Legislative Day and Legislative Reception on January 29. Loren Allen, WVBankers General Counsel and Director of Government Relations kicked-off Legislative Day with a briefing of the Association's legislative agenda. The group then headed to the State Capitol to meet the Senate President, Speaker of the House of Delegates, and House and Senate Banking and Judiciary Chairmen. Later than evening, members of the West Virginia State Senate and House of Delegates joined nearly 90 registered bankers for the Annual Legislative Reception. Without a doubt, this year's Legislative Day was a tremendous success. Thank you to everyone who participated. Legislative pictures from the morning session are available: Senate | House of Delegates
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DEADLINE APPROACHING: West Virginia Banker Magazine - Content Submissions
The deadline to submit articles for the Spring 2020 edition is Thursday, February 6. If you are interested in making a submission for the upcoming edition or have questions regarding editorial guidelines, please email
Allison Boyd.
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REGISTER NOW FOR WVBANKERS/ABA'S WASHINGTON SUMMIT
Registrations are now being accepted for the 2020 WVBA/ABA Washington Summit, to be held March 23-25 in Washington, D.C. The largest gathering of banking industry leaders in the nation's capital, the Summit provides an opportunity for bankers across the country to meet with lawmakers, regulators and administration officials to help ensure that banking policy continues moving in the right direction. The Schedule for the 2020 program is currently in development and will be shared once available. One $750 scholarship is available for an Emerging Leader; if interested please contact Sally Cline, WVBankers President & CEO, for more information.
In conjunction with the Summit, ABA also hosts forums for mutual community banks, emerging leaders and women bankers. Register now.
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SEMINAR SPOTLIGHT
IRA Basics/Advanced Seminar
February 25 - 26, 2020
Stonewall Resort
Roanoke, WV
Understanding the SECURE ACT of 2020
Yes, it's finally here. After a year of deliberations, the SECURE Act was signed into
law under the Appropriations Act on December 20, 2019. Most of the provisions are
in effect on January 1, 2020. These are the most substantial changes we've had to
IRAs in almost 15 years. There are too many issues and too many potential pitfalls
financial institutions will experience if they don't have a working knowledge of these
changes. Forms will be changed, IRA software must be updated which may take a
while. Because of this, you may have to do some "manual" notices to your IRA client
base to make sure these time-sensitive changes are implemented.
In the IRA Basic class on Day 1
, you may be thinking, I don't even know the old
rules to know what the new changes are. Unfortunately, you will need to know the old
and the new rules because most of the IRA rules prior to 1/1/2020 are
"grandfathered". But don't worry, you will have the totally updated IRA "Red" Book
Training manual with lots of "cheat sheets" to show you the "before" and "after"
In the IRA Advanced Day 2
, we will summarize the changes and then actually get
into the nitty gritty of new distribution regulations to owner's and beneficiaries - what
stays the same and what changes? How do we disclose all these changes to our
customers?
This intensive 2-day format will help you pull it all together by helping you learn
the following:
- Understanding the Top 20 Basic Terms of IRAs.
- Next we will review the most commonly used forms to create and complete IRA transactions.
- As the day goes on, you will pick up knowledge of the IRA plan types, Traditional, Roth and SEP.
- On the second day of our journey, we will nail down the use of the proper terminology of "Rollover" vs.
"Transfer" when moving money from an employer plan to an IRA and from an IRA to an IRA - and the
consequences if we don't know the difference.
- Health Savings Accounts - What's our job and what's the customer's responsibility?
- And finally, you will better-learn and comprehend the complicated areas of IRA Distributions to owners
and beneficiaries and IRS reporting, resulting in a better picture of this confusing topic incorporating the
new rules as part of the SECURE Act of 2020.
Whether you are looking to gain basic knowledge of IRAs, raise your comfort level or
sharpen your skills with the most up-to-date rules and regulations, this two day format
will cover everything!
Attention Members!!!
To receive your member rate, please make sure to use the WVBankers Member Promo Code:
"wvbankers"
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February Events:
February 26, 2020
Stonewall Resort - Roanoke, WV
March Events:
March 5, 2020
Sam Bowling Conference Center - Charleston, WV
March 10 - 12, 2020
Four Points by Sheraton - Charleston, WV
March 17 & 18, 2020
Four Points by Sheraton - Charleston, WV
April Events:
April 22, 2020
Sam Bowling Conference Center
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To succeed in today's banking world, bank officers need the wisdom and expertise that comes from perception and insight, an astute ability to discover, discern and decide. It's that kind of knowledge that the
Graduate School of Banking at Louisiana State University has been offering to experienced bank officers for over 70 years.
Completion of the program has become a requisite to professional advancement in many banks. Executives at multi-billion dollar financial institutions as well as community banks find that the
School's curriculum addresses their educational needs. WVBankers has three scholarships available; one is reserved for a minority or female student and one is reserved for a bank regulator. If you are interested in learning more about applying, please contact
Sally Cline, WVBankers President & CEO.
The 2020 session runs May 25 - June 5, 2020. Join thousands of other executives who have attended GSBLSU and have left the school with a new kind of knowledge - one that separates them apart.
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SBA Access to Capital Lending Forum
Fairmont, WV
Wednesday, May 6
9:30 a.m. to 11:30 a.m.
This forum is for lenders, economic development leaders, and those involved in West Virginia small business financing. The goal is to meet, network, and find out more about how the SBA 504 loan program can be beneficial with helping small businesses in the Mountain State to obtain access to capital, grow, and foster in West Virginia's economy.
Officials from SBA's Office of Capital Access will be in attendance to answer any questions you have of SBA's Loan Guarantee programs.
Register here!
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Question:
Can I use proof of disclosing the Closing Disclosure to the borrower from the Title Company, or does the proof have to be from us the Lender?
LEARN MORE
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Check Out Our Distance Learning Options:
TOTAL TRAINING SOLUTIONS WEBINARS
AMERICAN BANKERS ASSOCIATION (ABA) FACILITATED ONLINE COURSES:
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Do you have news to share? Please forward your press releases and photos to
Allison Boyd
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