IBANYS Weekly E-Newsletter |
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2022 Convention Sponsors - to date
- Bankers Healthcare Group (BHG)
- COCC
- Federal Home Loan Bank of NY
- Hartman Associates
- ICBA
- Neach
- Pillar+Aught
- Piper Sandler
- Plante Moran
- Pursuit
- Roosevelt & Cross
- SHAZAM
- Shield Compliance
- Sunwealth
- T. Gschwender & Associates
- The Baker Group
- Wolf & Co.
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IBANYS' busy spring continued this week. We hosted our Virtual Bank Directors’ Conference Live Webinar to help board members and management teams of New York community banks gain and enhance the tools necessary to guide their institutions' growth and profitability, and to sustain their vision and future success. We also partnered with MBK Associates to offer a webinar on SERPS for community banks.
What’s next?
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ICBA's Capital Summit is less than three weeks away: May 1 –4) in Washington, D.C. IBANYS is coordinating “Hill Meetings with key members of our New York congressional delegation, focusing on the offices of those serving on the House Financial Services, Small Business, Agriculture, Ways & Means, Energy & Commerce and other key committees. . .plus, Senators Schumer and Gillibrand. Please join us for these important sessions! See our Washington section for details.
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IBANYS Annual Convention “Mobilized, Banking for the Future” is June 13 -15 at the Turning Stone Resort & Casino. (Click here for more detailed information.)
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Although the NYS budget has been approved, we are now in a six-week intense legislative session during which discussions on Public/State bank, Climate Change, Municipal Deposits for Credit Unions, Foreclosures, Crypto and Cannabis will take place. We will need your voice, your ideas and feedback on maintaining community banks strong position in each of your communities. Your flexibility, strong resolve and helping hand during the pandemic was instrumental in helping your business clients and your customers survive the last two years. We need to continue to highlight all the great things each of your banks have done, and continue to do, for your communities. As always, IBANYS will keep you posted on any legislative updates -- but we will need to hear from you on the important legislative topics mentioned above. Stay tuned!!
Activity in Albany has intensified. Not only did the Governor and Legislature finally enact the state budget, but Lt. Gov. Brian Benjamin resigned following his arrest on bribery and corruption charges -- but, may remain on the June primary ballot, creating a political problem for Gov. Hochul. See our Albany section for details. Read more here.
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- Salary trends and incentive payouts.
- Employee turnover and staffing levels.
- Environment, social, and corporate governance.
- Hybrid and remote work.
- Age breakdowns of banking personnel.
- Board of directors’ compensation.
The survey closes May 31, 2022. ICBA also notes that participants in the survey receive a substantial discount on the survey report available this fall.
-- John
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There are two opportunities to be a part of something special. Both great events and both include inviting customers and/or provide a great reward for employees. |
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Buffalo Bills Alumni Foundation Gala and Golf weekend – July 22nd-23, 2022. Buffalo Bills Alumni raise money and give 100% of proceeds to charities in the Buffalo/Rochester region. Great 2-day event with former players and memorabilia. Please contact John Witkowski (johnw@ibanys.net) for registration and sponsorship information.
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2023 PGA Championship at Oak Hill Country Club – In May of 2023, the most talented field in men's golf returns to Oak Hill Country Club for the PGA Championship.
With the overwhelming interest in our 2023 PGA Championship Corporate Hospitality Experiences, we are nearly sold out of on-course entertainment.
Club PGA Reserved Tables are our final remaining hospitality experience, providing world-class client entertainment and maximum B2B networking steps away from the world's-best making history as a Major Champion.
Club PGA Reserved Table Amenities:
12 Grounds Tickets per day, Mon. - Wed.
12 Club PGA Reserved Table Hospitality Tickets per day, Thurs. - Sun.
Private climate-controlled venue located on Hole 6 of Oak Hill's newly renovated East Course
Premium all-inclusive Food and Bar Experience
Premium amenities including WiFi, executive private restrooms, and TVs
Spacious outdoor viewing deck
4 Corporate Parking Passes, Mon. - Sun.
Complimentary premium daily shuttle service, Mon. - Sun.
Access to the 2023 PGA Championship Dual Logo Merchandise Program
Access to purchase up to 2 all-week ticket packages to the
2025 Ryder Cup at Bethpage Black
$62,400, Nearing Capacity
If anyone is interested, I will put in touch with the McCall Harwell PGA Events Rep to review the details. This can be split into smaller ticket amounts – you don’t have to buy the whole package of 12.
Let me know!
Thank you
John
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COMMUNITY BANKS — MOBILIZED
BANKING FOR THE FUTURE
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IBANYS ANNUAL CONVENTION
June 13-15, 2022
Turning Stone Resort & Casino
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Detailed Brochure and Registration Information - Register Today!
A block of rooms have been reserved at the Turning Stone Resort & Casino. Reservations can be made by contacting the Turning Stone Resort at (800) 771-7711. Refer to group: IBANYS Convention. Room cut-off: May 19, 2022. (We cannot guarantee room availability and pricing after this date.) Tower King/Double Rooms rate= $164. Tower Junior Suites rates $244 (single/double occupancy).
WE STRONLY RECOMMEND YOU MAKE YOUR RESERVATIONS EARLY. THE ROOMS WILL SELL QUICKLY. Cancellations must be made 48 hours prior to day of arrival.
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MEET THE CONVENTION SPEAKERS |
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Jack Hubbard, Chief Experience Officer
St. Meyer & Hubbard
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Named one of the nation’s top 100 most trusted business leaders by Trust Magazine, Jack Hubbard has shared his passion for what it takes to build trust-based sales initiatives since 1973. With more than 75,000 financial services professionals trained and coached, Jack is one of banking’s most sought-after facilitators. An author, classroom instructor and thought leader, his expertise and out-of-the-box thinking put him in great demand when the subject matter is bank to business sales and sales leadership.
He is a regular keynote presenter for state and national banking associations and has instructed at 13 of the nation’s top banking schools where his humorous style and street savvy approach continue to earn him top honors. Hubbard served 32 years as an award-winning faculty member of ABA’s School of Bank Marketing and Management. He was also a popular, two-decade instructor at ABA’s Stonier Graduate School of Banking. He is a top-rated instructor at Graduate School of Banking in Madison, WI, and The Perry School of Banking. He is also the Program Director of GSB’s Sales and Marketing School.
A prolific writer, Jack’s content can be seen in: The American Banker, The Financial Brand, RMA Journal and numerous state banking publications. He is co-author of the bestselling book, Conversations with Prospects, the standard for new clients acquisition strategies.
Active on LinkedIn, Jack manages the Business Banking Network and Social Selling for Bankers Groups and his newest LinkedIn Group #RantPack features his popular weekly blog, Jack Rants. Jack has taken his six decades of marketing and sales knowledge to LinkedIn Live with his new weekly show Jack Rants Live showcasing bestselling authors and top minds in today’s banking landscape.
He serves on the Board of Directors of St. Charles Bank & Trust, an $2.0 billion affiliate of Wintrust Financial in Illinois.
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ASSOCIATE & PREFERRED PARTNERS |
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IBANYS Welcomes our Newest Associate Member |
Bank Compensations Consulting's (BCC) team for over two decades has provided their expertise and documented process that assists banks to efficiently enhance earnings with the implementation of effective BOLI strategies.
Contact: Jordan Winick, Regional Director
Phone: (267) 918-7569
E-mail: jwinick@bcc-usa.com
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Friday, May 13 at 10:00 am ET
Duration: 45 minutes
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Grab a beverage and join our monthly discussion series on all things CECL. We'll begin each session by addressing the latest questions and concerns we've received from banks, then open things up for an audience Q&A — and hear how your CECL compliance work is going, clarify misinformation, swap suggestions and more. Each session will be different, and any banker can attend one or all, whether you use our CECLSolver tool (part of QwickAnalytics) or not. Just register to let us know you'll attend.
Time's Almost Up for CECL: See How CECLSolver Can Help
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Join community bankers from across the country to advocate for our industry—in person. You have the power to share your personal story and put a name to our industry's key legislative priorities.
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Rising tide
Bonds to own for a rate hike environment
By Jim Reber
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Community bankers are nothing if not predictable, and I mean that as a compliment. They are bright, enterprising, have a nose for the risk/reward dynamic and a sense of duty and loyalty to their customers and staff. They’re also deathly afraid of rising interest rates.
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With the state budget now enacted, the Legislature will accelerate "regular" legislative action. This will likely include increased focus on legislation by Senate Banks Chairman Sanders (D-Queens) to create a state/public bank, and perhaps on a proposal to establish local municipal public banks. IBANYS opposes to the bills. Read our Memo in Opposition. . . . Also Read IBANYS Background & Talking Points Opposing this legislation and proposed possible alternative approaches to help meet the needs of unbanked and underbanked populations. Another issue that may now move forward is to allow credit unions to accept municipal deposits, which IBANYS also continues to oppose.
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State Financial Services Superintendent Adrienne Harris noted the 2022-23 state budget “includes a new authority to collect supervisory costs from licensed virtual currency businesses, like the Department already does for banking and insurance companies. New York was the first to start licensing and supervising virtual currency companies, and we continue to attract more licensees and the most crypto startup funding of any state in the nation. This new authority will empower the Department to build staff with the capacity and expertise to best regulate and support this rapidly growing industry. Along with the many other landmark initiatives in the adopted budget, these reforms will help build a financial system that provides greater opportunity for all New Yorkers.” The budget also funds new grants for statewide student loan counselors. https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202204091
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State Comptroller DiNapoli, who oversees the state’s $279 billion pension fund, backed an effort to "wean" the nation’s biggest banks away from new lending for fossil fuel projects. DiNapoli has filed a solicitation urging shareholders of Citigroup Inc., Bank of America Corp., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Wells Fargo & Co. to back resolutions calling on the companies to adopt climate resolutions to meet net-zero goals by 2050. The solicitation will be sent to all of the banks' shareholders, and the retirement fund will itself vote for the proposals.
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Gov. Hochul called a special election for May 24 to fill the vacancy in the in the 58th Assembly District in Brooklyn caused by the U.S. confirmation of longtime incumbent Nick Perry as Ambassador to Jamaica. The winner on May 24 will serve until the end of 2022. The winner of the June 28 Democratic primary (which may or may not be the same person who wins the special election) will run in November for a full two-year term that begins Jan. 1, 2023.
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ICBA has a “customizable op-ed” community bankers can use to raise awareness of credit union acquisitions of community banks. The op-ed cites the harmful impact of the acquisition trend on local customers and tax revenues. It's available in Microsoft Word so community bankers can personalize and distribute it to local news media. Visit ICBA’s Wake Up page. The effort builds on the recent American Banker op-ed on credit union acquisitions by ICBA Chairman Brad Bolton. ICBA has also urged Congress to build on state actions to curb this trend by investigating at the federal level. Read more.
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ICBA also continues running a digital campaign featuring a recently released ICBA video urging Americans to advocate congressional hearings on how credit unions are taxed and regulated. Community bankers can continue urging Congress to hold hearings on the credit union tax exemption using a customizable message to lawmakers on ICBA’s Wake Up page and its Wake Up Messaging Playbook.
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President Biden is reportedly leaning toward nominating former Treasury Department official Michael Barr -- now dean of the University of Michigan’s public policy school -- as the Federal Reserve's Vice Chair for Supervision after Sarah Bloom Raskin withdrew her candidacy last month. Barr helped create the Consumer Financial Protection Bureau in the 2010 Dodd-Frank Act. Politico. . .Meanwhile, former FDIC Chairman Sheila Bair announced she is stepping down as Fannie Mae chairman, effective May 1. She will be succeeded by Michael Heid, who previously worked in Wells Fargo & Co.’s mortgage-lending business before his retirement in 2016. President David Benson will take on the additional role of interim chief executive officer, replacing Hugh Frater, who is retiring and leaving the board.
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ICBA rejected the CFPB’s characterization of overdraft and non-sufficient-funds fees as “junk fees” similar to resort fees on hotel bills and concert ticket service fees. Among its comments responding to the CFPB’s request for information on its “junk fee” initiative, ICBA said: The community bank business model is built on trust, which would be damaged by charging opaque or excessive fees; Bank fees do not meet the CFPB’s definition of a “junk fee” because they are disclosed, subject to price competition, and only assessed when there is a specific customer action; Customers must voluntarily opt in to benefit from overdraft services for ATM or one-time debit card transactions and may opt out at any time. Customers overdrawing their checking account and paying the associated fee is often the least financially harmful choice available; Limiting the ability of community banks to offer services could push consumers toward less scrupulous institutions. ICBA has previously called the request for information a "misguided effort that paints a distorted and misleading picture” while reiterating that community banks already follow multiple federal laws and the CFPB's own rules on terms and fees.
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ICBA wrote to express its strong support for the Transparency in CFPB Cost-Benefit Analysis Act (H.R. 7412). The bill, which was introduced by Rep. Alex Mooney (R-W.Va.) and has 13 co-sponsors, directs the CFPB to create a rigorous cost-benefit analysis to ensure rules are not overly burdensome and directly benefit community banks and their customers. The rulemaking analysis would include: A quantitative and qualitative assessment of anticipated costs and benefits, including reasonable alternatives; Whether the proposed rule is duplicative, inconsistent, or incompatible with existing regulations; Assumptions as well as any studies and data used to analyze costs and benefits.
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ICBA and others called on the House Financial Services Committee to pass legislation to close the industrial loan company loophole. Sponsored by Reps. García (D-Ill.) and Gooden (R-Texas), the ICBA-advocated “Close the ILC Loophole Act “(H.R. 5912) would remove the Bank Holding Company Act’s exemption of ILCs from the definition of “bank,” permanently closing the ILC loophole. In a joint letter the groups said the ILC loophole allows commercial entities to provide financial products and services, while avoiding regulatory supervision—contrary to longstanding U.S. policy separating banking and commerce. ICBA also offers a comprehensive white paper detailing why policymakers should close the ILC loophole.
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ICBA's 2022 ICBA Capital Summit is May 1-4 in Washington, D.C. Speakers will include CNN political analyst and USA Today columnist Kirsten Powers. . .Senate Banking Committee member Mike Rounds (R-S.D.). . .Acting Comptroller of the Currency Michael Hsu. . .FDIC Acting Chairman Martin Gruenberg. . .and Assistant Treasury Secretary for Financial Institutions Graham Steele. New York Community Banks: IBANYS is coordinating hill meetings on Tuesday, May 3 with New Yorkers on the House Financial Services, Small Business, Agriculture, Energy, Homeland Security, Labor, Budget and Ways & Means Committees, and with Senators Schumer and Gillibrand. Join us in Washington! Register with ICBA for the Summit. We will contact you regarding our "hill visits" in the near future!
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