IBANYS Weekly E-Newsletter |
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2022 Convention Sponsors - to date
- Bankers Healthcare Group (BHG)
- CEIS Review
- 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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TALK BUSINESS WITH KEN KRAETZER — A Talk with Robert Fisher, On Year as National Chair of the Independent Community Bankers of America
"Bank with a community banker, we are high tech and high touch relationship lenders" Robert Fisher, president and CEO of Tompkins County NY based Tioga State Bank, a veteran of the US Air Force, describes his year as National Chair of the Independent Community Bankers of America with Ken Kraetzer of #cbsiTalkingBusiness podcast.
Key Topics:
- Meeting Community Bankers across country
- Chairing recent ICBA National Convention
- Saving 20 million jobs with PPP loans and other efforts during pandemic.
- Presenting to Members of Congress
- IRS Data Collection
- Maintaining personal financial privacy
- Closing ILC Loopholes
- USPS Banking Services
- Serving unbanked customers
- Encouraging Financial Literacy
- Being "Leading Edge" on Technology
- ICBA Venture Centure Fintech Accelerator
- Initiatives on Cyber and fraud
- ICBA Community Banker University
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TALK BUSINESS WITH KEN KRAETZER - Kevin Kerridge CEO of Altamonte Springs, Florida based SeeTek on discussing the vast "Unbanked"
"You would think half the country is covered by "Bank Deserts", Vermont, Hawaii, any major city has a bank desert challenge" That's Kevin Kerridge CEO of Altamonte Springs, Florida based SeeTek on discussing the vast "Unbanked" amounts of that United States that do not have traditional bank branches to provide account opening, deposit, and funds access.
In our #cbsiTalkingBusiness interview series Kevin describes the #OuterBanx program which provides advanced ATM type machines which in three minutes can open an account, verify ID, accept deposits and provide funds access via debit cards.
Describes the concept of "Community Hosted Financial Services, the OuterBanx ATMs can be located in super markets, community centers, even churches. A mobile app is available which can provide additional services. Processing is provided by M2systems. About sponsors he explains, "Any bank can sponsor the terminals, a small bank, a regional, a super regional, or a federally chartered national bank".
Reach Kevin Kerridge on Linked In and at 702-490-6031
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IBANYS' government relations activity is ramping up in both Albany and Washington. At the state level, the issues are many, and time is short: This year's legislative session is set to adjourn June 2 -- meaning that just 17 more legislative days remain. In Washington, we are gearing up for our meetings with the offices of key members of the New York congressional delegation on Tuesday, May 3. At the federal level, we are now just days away from the 2022 ICBA Capital Summit in Washington (May 1 – 4). IBANYS has planned numerous congressional meetings on Tuesday, May 3 with New York Congressional Delegation offices, focusing on the House Financial Services, Small Business, Agriculture, Ways & Means, Energy & Commerce and other key committees, as well as Senators Schumer and Gillibrand. Here are the issues we will be discussing. Before the Summit begins, ICBA wants community bankers to send in grassroots messages to their members of Congress on legislative priorities. Visit ICBA’s Be Heard grassroots action center to access and customize the message: Contact Congress now. . .Please join us for these important sessions!
We need your voice, ideas and feedback to preserve your strong position in your communities, and highlight everything you have done -- and continue to do -- for your customers and communities. See today's Government Relations sections for more details.
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IBANYS Annual Convention “Mobilized, Banking for the Future” is now just over six weeks away! Join us June 13 -15 at the Turning Stone Resort & Casino. Click here for more information. . . .for full details on all 2022 IBANYS meetings, visit: https://ibanys.net/meetings-schedule/.
-- John
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Quontic Bank Launches First Ever Payments Ring in the United States
Quontic’s wearable payment device will allow customers to tap-to-pay at any merchant worldwide that accepts contactless payments.
NEW YORK, April 12, 2022 /PRNewswire/ — Quontic Bank announced today that it has introduced the first ever tap-to-pay mobile payment ring to the U.S. market. Quontic is an innovative, digital-first, and customer centric bank on a mission to redefine how a bank and its customers conduct business.
“Welcome to your debit card, evolved. Quontic is the first bank to offer Bitcoin rewards on a checking account, the first to offer a wearable payment solution, and, often, the only bank willing to demonstrate just how innovative a digital bank can be,” said Steve Schnall, CEO and Founder of Quontic. “We’re pleased to continue to push the industry forward and will continue to make it easier for Americans to bank, wherever and however they choose.”
Quontic is committed to making banking more equitable for its customers. As a U.S. Department of Treasury certified Community Development Financial Institution (CDFI), Quontic provides access to homeownership to low-income families, immigrants, small business owners and others who have earned, saved and budgeted their money on the path to homeownership. In the past year, Quontic was named the Best Overall Online Bank of 2022 by Forbes, one of America’s Best Banks 2022 by GoBankingRates and one of America’s Best Banks 2022 by Newsweek.
For an image of the ring, click here.
To learn more about the ring, click here.
About Quontic
Quontic is the adaptive digital bank that empowers its customers financially while embracing their diverse circumstances. Quontic’s disruptive banking platform reimagines traditional banking with adaptive lending and innovative deposit products that transcend legacy banking inequities. Quontic’s mission to break the system for financial empowerment stands in the face of big banks and proves there is a better and more equitable way to put the customer first. The bank focuses on truly understanding and serving the underdogs, entrepreneurs, gig-economy workers, immigrants, and more with a curated banking experience as opposed to a one-size-fits-all banking approach. Quontic is a privately held company based in New York, New York.
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OTHER EVENTS/OPPORTUNITIES |
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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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Please Join Us for IBANYS’ 2022 Annual Convention — June 13-15, 2022 —
Turning Stone Resort & Casino, Verona, NY
It’s time to get back together again.
IBANYS' ANNUAL CONVENTION, "Mobilized, Banking for the Future" is being held at the Turning Stone Resort and Casino from June 13-15.
We have a few exciting days of networking, education and entertainment planned for our participants. The agenda is jam packed with great subject matter experts on a variety of topics that impact community banks today.
There are 30 exhibitor spaces available at the Tradeshow (over half have already been sold) and we anticipate that all the booths will be filled. Reserve your booth today, they are sold on a first-come-first serve basis.
Our event features opening and closing key-note speakers, Derek Williams, ICBA Chairman Elect will address the attendees on Monday evening and Jack Hubbard, Chief Experience Officer from St. Meyer and Hubbard close out the meeting on Wednesday.
Join us Tuesday evening after dinner as Michael Gutenplan, “Mentalist” entertains us with a fun, interactive, and high-energy show designed to entertain the most skeptical, demanding, and sophisticated audiences.
PAC Auction - Please consider donating an item for this event, (see page 11) of the brochure for suggested items. This is an important part of our convention and provides a perfect opportunity to showcase items from your region, while supporting an essential committee that focuses and advocates for community banks in NYS legislative affairs. The PAC auction takes place on Tuesday evening during our cocktail reception which is held on the Trade Show floor. Items are placed in exhibitor booths to be viewed and bid on.
It’s been more than two years since we have had an opportunity to get our bankers, preferred partners, associate members and sponsors together. We are excited to share with you, that the response to date, has been fantastic!
Attached is the convention brochure, containing everything you need to know about our signature event of the year including registrations forms, program agenda, hotel booking, and dress attire. PLEASE REGISTER FOR THE ANNUAL CONVENTION BY COMPLETING THE APPROPRIATE REGISTRATION form (Attendee or exhibitor) and email (lindag@ibanys.net) or mail to Linda Gregware, 194 Washington Ave., Albany, NY 12210.
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Guidance for New Directors
Thursday, June 16 — 11:00 - 12:30 p.m.
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This session will focus on fundamental board governance issues and is designed for Directors with less than five years’ experience.
This session will be hosted on MS Teams
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MEET THE CONVENTION SPEAKERS |
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Stephen King, JD, AMLP Principal
Wolf & Company
Steve is a Principal in Wolf’s Advisory Group and the Director of the Regulatory Compliance Team. He also leads the Firm’s New York Financial Institutions Team, where he guides clients through federal and state banking statutes from an operational and legal perspective. Steve joined Wolf in 1996 and has nearly 30 years of experience as a compliance advisor, facilitator, and resource for financial institutions, investment companies, mortgage industry professionals, and broker-dealers. He’s an avid speaker and regularly travels to events to educate members of financial industry associations throughout the country.
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Tony Repanich, President & COO
Shield Compliance
As President and Chief Operating Officer of Shield Compliance, Tony leads day-to-day operations and is the company’s principal product architect. Having served as a senior executive at a Washington State-based community bank for over 20 years, Tony has in-depth knowledge of the banking industry and the regulatory and compliance requirements for high-risk industries. Today he brings that knowledge to financial institutions serving and considering serving the legal cannabis industry. Tony is a graduate of Western Washington University and the Pacific Coast Banking School at the University of Washington, the premier national graduate school of banking. Tony serves on the Board of Directors of the Emerging Markets Coalition (EMC) and was recognized as a Puget Sound Business Journal Innovator of the Year in 2019.
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ASSOCIATE & PREFERRED PARTNERS |
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99 Garnsey Road
Pittsford, NY 14534
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IBANYS Welcomes our newest Associate Member
Harris Beach PLLC
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Harris Beach attorney Constantine Lizas, former FDIC lead counsel, advises financial services clients on Bank Secrecy Act/Anti-Money Laundering (BSA/AML), digital currency, blockchain, and other banking regulatory issues before the federal banking agencies and the Financial Crimes Enforcement Network (FinCEN.) Founded in 1856, Harris Beach and its subsidiaries provide legal and professional services to clients across New York state, as well as nationally and internationally.
Contact: Constantine Lizas
Phone: (202) 975-9780
E-mail: clizas@harrisbeach.com
Contact: Brian Carnevale, Sr. Manager of Marketing & Business Development
Phone: (585) 419-8689
E-mail: bcarnevale@harrisbeach.com
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“The cost of inaction will exceed the cost of action.”
Steven Rothstein, Managing Director of the Ceres Accelerator for Sustainable Capital Markets
Insights into the SEC Climate Disclosure Proposal
On Monday, March 21st, the Securities and Exchange Commission (SEC) published a proposal that would require publicly traded companies to disclose detailed information around climate risks. While we wait until the 60-day comment period closes, we aim to better understand what this proposal would mean for the investment community.
Sunwealth recently sat down with Steven Rothstein, an expert with 40 years of experience working at the intersection of climate and capital markets. Rothstein is the Managing Director of the Ceres Accelerator for Sustainable Capital Markets. Ceres has been tracking and informing SEC climate risk disclosure policy movement for more than a decade.
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April 2022
Actionable insights and tools to help you
strengthen the role IT plays in achieving your business goals.
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Six priorities to strengthen your financial institution in 2022 |
The macro environment continues to evolve, and leaders at financial institutions must focus on these six priorities to strengthen and grow their organizations.
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Why core conversion is critical to digital transformation for banks |
Banks and credit unions are under extreme pressure to update their core banking technology. Learn how core conversion can aid financial organizations in achieving a successful digital transformation.
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Meet Our Newest Team Member
Elizabeth Sherman
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Elizabeth is joining us in the role of Executive Advisor for the Financial Services industry focused on banking operations and applications including core, FinTech, and Banking-as-a-Service. Elizabeth joins us after working with Fiserv and 1st Mariner Bank. She is bringing our team a wealth of knowledge on core processing, business banking, treasury management, and digital solutions. |
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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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ICBA Securities
775 Ridge Lake Blvd., Suite 175
Memphis, TN 38120
Contact: Jim Reber, President/CEO
Telephone: 800-422-6442
Twitter: @ICBASecurities
LinkedIn: ICBA Securities
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ICBA Securities provides a full suite of investment products and services for community banks through its exclusively endorsed broker, Stifel. Included are traditional debt securities, interest rate products, whole loans, and M&A and bank valuation services. Stifel also has state-of-the-art asset/liability and bond accounting products. It offers investment banking services through KBW. ICBA Securities, a wholly owned subsidiary of the ICBA, provides a full calendar of educational events for community bankers and investment professionals. ICBA Securities is endorsed by 34 affiliated state banking associations, and is the only broker/dealer owned by the community banking industry. |
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With just 17 legislative session days remaining in Albany, we are now in an intense five-weeks, and such key issues as public banking, climate change, municipal deposits for credit unions, foreclosures, crypto and cannabis are expected to be on the agenda. There are a number of different proposals in the Legislature related to establishing a state public bank; enabling local municipalities to establish their own local public banks; are two proposals related to establishing public banks, or conduct an independent “feasibility study” of the concept of public banking, after which DFS would eventually make the final decision. Read IBANYS’s Memo in Opposition… And: Read IBANYS Background & Talking Points Opposing this legislation. IBANYS is working with other allied groups to provide alternative solutions and proposed possible approaches to help meet the needs of unbanked and underbanked communities using various existing vehicles. IBANYS 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.
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As the state continues to experience a boom in bitcoin mining, some state legislators face an “uphill battle” to block new mining sites at fossil fuel plants with proposed statewide moratorium. On Tuesday, a two-year moratorium on a process of generating cryptocurrency was approved by the State Assembly. Read More
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IBANYS received the following Industry Letter from the NYS Department of Financial Services: https://www.dfs.ny.gov/industry_guidance/industry_letters/il20220415_offering_bank_on. DFS states they "reached out to the New York banking industry to determine the receptiveness and operational viability of offering such alternative accounts and assessed applicable New York laws and regulations and the Bank On National Account Standards. After this assessment, DFS has determined that all New York State regulated banking institutions, as defined under Section 14-f.9(a) of the New York Banking Law (“Banking Institutions”), will be deemed to satisfy the Basic Banking requirements under the New York Banking Law and the General Regulations of the Superintendent, by offering Bank On accounts as an alternative to Basic Banking accounts."
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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. Here are the issues we will be discussing in our congressional meetings.
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Testifying before the Senate Banking Committee on the CFPB’s semi-annual report to Congress, Consumer Financial Protection Bureau Director Rohit Chopra told Congress that engaging community banks is one of his key priorities as head of the agency. Chopra said he hopes to meet with all state community banking associations during his term in office, citing the importance of the relationship-banking model. He also said the CFPB s increasingly focusing on larger institutions that repeatedly violate the law, rather than investigating small firms, and simplifying its rulemakings. The hearing nevertheless focused on some of the CFPB’s most contentious policy efforts affecting community banks, including: Its initiative targeting overdraft and non-sufficient-funds fees, which the bureau has dubbed “junk fees”—a label ICBA has rejected. . .and, Its proposal to implement new small-business loan data collection and reporting requirements under Dodd-Frank Section 1071, for which ICBA is seeking expanded community bank exemptions. Chopra’s testimony came a day after the CFPB announced it is invoking a “dormant” legal provision to examine nonbank financial companies. ICBA last year called on the bureau to ensure nonbanks that access customer financial information take the same care in protecting consumer privacy and data as community banks. Chopra—who is scheduled to speak at next week’s ICBA Capital Summit—is on Capitol Hill again today to testify before the House Financial Services Committee.
- The U.S. Senate approved Federal Reserve Governor Lael Brainard’s nomination as Fed Vice Chair. She has served on the Fed board since 2014, and previously was Treasury undersecretary. President Biden’s other Fed nominees still await Senate votes: He renominated Fed Chairman Jerome Powell; and nominated academics Lisa DeNell Cook and Philip Nathan Jefferson as Fed governors. Earlier this month he also announced plans to nominate former Treasury official Michael Barr as Fed Vice Chair/Supervision. Once formally nominated, Barr will be considered by the Senate Banking Committee before advancing to a Senate vote.
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If the GOP wins the House majority in November, Rep. Patrick McHenry (R- NC) plans to make a bid for Chair of the House Financial Services Committee instead of running for House GOP whip. Currently the Committee’s Ranking GOP member, and sees the possibility of passing his own financial agenda as the preferred option. McHenry's decision “will be a blow” to GOP Reps. Luetkemeyer (MO), Huizenga (MI) and Barr (KY) who were also interested in the top job on the House Financial Services Committee. Punchbowl News
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ICBA has issued a “customizable op-ed” that community bankers can use to raise awareness of credit union acquisitions of community banks. The op-ed—which is available in Microsoft Word so community bankers can personalize and distribute it to local news media—cites the harmful impact of the acquisition trend on local customers and tax revenues. The custom op-ed is available on ICBA’s Wake Up page. It follows last week’s American Banker op-ed on credit union acquisitions by ICBA Chairman Brad Bolton. While credit union advocates support credit unions leveraging their tax exemption to acquire community banks, these subsidized transactions harm local communities. ICBA has 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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The “American Banker” notes that Senate Banking Committee Ranking Republican Pat Toomey (R-PA), who is not seeking reelection, has made reforming the Federal Reserve Banks a priority for his final months in office. With Senator Elizabeth Warren (D-MA) and others now expressing overlapping concerns, changes may be within reach. Read story →
- In an Earth Day message, NYS Financial Services Superintendent Adrienne Harris addressed the issue of climate change, noting: “While the physical risks of climate change cannot be underestimated, climate change is also an emerging and increasing threat to the financial stability of individuals, businesses and our global financial system. In particular, low-to-moderate income communities, often communities of color, are more susceptible to flooding and heat waves and have fewer resources to recover from weather-related disasters. If climate change begins to impact the safety and soundness of the financial system, those same marginalized communities are likely to suffer first and suffer most. As we recognize Earth Day 2022, we must take up the mantle to ensure the financial system incorporates climate change in risk management to protect our nation’s fiscal health, firm safety and soundness, and our most vulnerable communities.”
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