|
|
Alyssa, don't miss these important MBA updates...
| |
|
LANSING
Representative Grant to Chair House Subcommittee on Housing
With Reps Kevin Coleman and Lori Stone leaving the legislature for their newly elected mayoral posts- there are some vacancies in committee service positions- the most notable of those is chair of the Economic Development and Small Business Subcommittee on Housing, a position held by Coleman that will now be handed over to Representative Kristian Grant.
Rep. Emily E. Dievendorf (D-Lansing) will remain majority vice chair of the committee, while Stone’s seat on the committee has not yet been filled, leaving it with nine members.
When asked about her plans for the subcommittee, come a return to session, Grant said her top priority is making housing more accessible.
“I believe we do this by making construction more affordable and streamlined,” she said. Grant said she also hopes to move legislation that gives local municipalities the tools they need to “think outside of what we’ve always done when it comes to housing, and instead find new solutions for our unique communities.”
| |
|
LANSING
Open House Seats May Remain Empty Until May 2024.
As a result of new election laws which implement a myriad of new requirements to execute an election, the Michigan House could be split 54-54 perhaps until mid-May.
Current discussions involve using the February 27 presidential primary as the special primary election for the 13th and 25th House Districts. Then there is debate about whether to hold the special general election in late April or with the regular May election date of May 7.
In either scenario, the House operating at 54-54 until late April or mid-May will complicate the budget process and could mean a significant logjam of bills that would likely only see highly bi-partisan legislation move until May.
The MBA met last week with Representative Kristian Grant in district to discuss her plans and priorities around housing and other financial services related policies. Rep Grant serves on Insurance & Financial Services, Tax, Regulatory Reform, Economic Development & Small Business (MVC) and is now Chair of the Economic Development & Small Business subcommittee on Housing.
| |
|
VETERANS
Celebrating Veterans
MBA attended a Veteran Home Giveaway event in St. Clair Shores alongside PNC Bank earlier this week. Isaac Bashi, a U.S. Army Veteran, and recipient of the Purple Heart, was honored with a new home courtesy of Homes4WoundedHeroes and PNC Bank. The keys to the renovated, mortgage-free residence were presented to him and his family during the event. Michael Bickers, Regional President for Detroit & SE Michigan at PNC Bank, expressed gratitude, saying, "Isaac, for your dedicated service to our great nation and for all of us who call it home, we express our heartfelt gratitude." Watch the video of the event.
| |
|
CONGRESS
Gruenberg: Incentive Pay Rulemaking Likely Delayed Until 2024
FDIC Chairman Martin Gruenberg earlier this week stated that a proposed interagency rulemaking to implement incentive pay requirements in the Dodd-Frank Act likely won’t happen before the end of the year. During a House Financial Services Committee oversight hearing on banking and credit union regulators, Rep. Nydia Velázquez (D-N.Y.) asked Gruenberg about comments he made in May suggesting that the regulators would move forward with rulemaking to implement Section 956 of the Dodd-Frank Act by year’s end. The provision requires disclosure of executive incentive-based pay and prohibits incentive packages that result in excessive risk-taking, among other things.
Gruenberg told Velázquez that he no longer expects the rulemaking to come before the close of the year. “This is a joint rulemaking involving six agencies … I think we are in general alignment, and I think we're going to move toward a re-proposed rule. It may not come until the early part of next year.” Watch a recording of the hearing.
| |
|
REGULATORS
Fed’s Bowman: Lowering Debit Card Fees Would Harm Low-Income Consumers
A proposal to significantly lower the cap on debit card interchange fees earned by banks is unfair to many issuers and, in some ways, regressive in its effects, Federal Reserve Governor Michelle Bowman said last week. The Fed last month proposed to revise Regulation II to lower the cap from its current rate of 21 cents and .05% of the transaction, plus a one-cent fraud prevention adjustment, to 14.4 cents and .04% per transaction and a 1.3 cents fraud prevention adjustment, effective June 30, 2025. The proposal would apply to debit card issuers with at least $10 billion in consolidated assets, according to the Fed. Read Bowman's Remarks.
| |
|
ECONOMY
Powell: Further Rate Hikes Not Off the Table
Federal Open Market Committee (FOMC) members are not confident that current monetary policy is restrictive enough to bring inflation down to its target of 2%, Federal Reserve Chairman Jerome Powell said last week. Speaking at an economic conference in Washington, D.C., Powell said the FOMC is making decisions “meeting by meeting” on whether to further raise the federal funds rate or leave it untouched at its current level of 5.25% to 5.5%. Read Powell's remarks.
| |
|
WASHINGTON
Nearly 40 Senators Urge Regulators to Withdraw Basel III Proposal
Thirty-nine Republican Senators called on bank regulators to withdraw their Basel III endgame proposal that would establish new capital standards for banks with more than $100 billion in assets.
Senate Banking, Housing and Urban Affairs ranking member Tim Scott (R-SC) led the effort, and Minority Leader Mitch McConnell (R-Ky.) was among the signatories of the letter to bank regulators. "We have serious concerns that, as proposed, Basel III will restrict billions of dollars in capital from those who need it most, resulting in costlier and more limited access to credit for millions of Americans," they wrote in a letter. Read the article.
| |
|
Nearly $175,000 in Scholarships Available Annually
The Graduate School of Banking – Madison offers a variety of scholarships to assist bankers in advancing their educations and careers. Applications for Graduate School of Banking scholarships must be submitted no later than March 1st; Human Resource Management School scholarship applications are due by February 1st.
Human Resources Management School
The Prochnow Educational Foundation offers an “at large” HR Management School scholarship available to bankers. The scholarship pays $700 toward the one-week school. Apply.
| |
|
Graduate School of Banking Scholarships
- Outstanding Leader Scholarship
- Ann Kleist Scholarship (Community Service)
- AMBA Andy Trovillion Scholarship (Military Service)
Apply.
Minbanc Foundation
Grants for professional development. Helping minority-owned banks serve their communities.
| |
|
Don't miss this unique economic forecast for 2024!
Presented by the Wisconsin Bankers Association, in partnership with the Illinois Bankers Association, Michigan Bankers Association, Minnesota Bankers Association, and the Wisconsin Bankers Foundation.
Thursday, January 11, 2024 - 11:00 a.m. - Noon CT (Noon - 1:00 p.m. ET)
Prepare for 2024 by joining an economic discussion with Federal Reserve Bank of Minneapolis First Vice President Ron Feldman. Time will be allowed for open Q&A during this virtual event.
Bankers and community leaders are encouraged to invite their business clients to virtually share these economic insights. Individuals or group registration rates are available.
| |
|
ABA eLearning provides training and certificate programs in all areas of banking. ABA Briefings are an efficient and cost-effective way to stay on top of current issues facing the banking industry.
View courses.
ABA Webinars (select Member).
| |
|
|
Register for the 2023 Midwest Agricultural Banking School
Bankers demand a strong return on education (“ROE”) in terms of dollars, time and effort spent. You can count on the Midwest Agricultural Banking School to provide:
- Practical, hands-on curriculum designed for learning by doing and for easy application at the bank;
- Small class size to increase networking opportunities and personalized instruction;
- A school designed and governed by bankers and taught by experienced bankers and consultants; and
- Reasonable enrollment fees and an academic atmosphere conducive to a stimulating learning experience.
| |
|
|
Access the Stop Ransomware Guide
CISA released version 3 of the Stop Ransomware Guide. The new version includes updates to prevention tips such as hardening SMB protocols, revised response steps, and added threat-hunting insights.
| |
|
MBA SERVICE CORPORATION
Order your 2023 Compensation, Benefits and Outside Directors Survey
The MBA Service Corporation’s 2023 Compensation, Benefits and Outside Directors Survey is NOW AVAILABLE!
- What is the salary other Michigan banks are paying their staff?
- What benefits are being offered for all F/T and P/T banking staff?
- What is the average compensation for board members serving Michigan banks?
- How is educational reimbursement being handled?
The MBA survey is filled with 200 pages of information assisting your bank with benefit decisions for your staff and boards. Order your copy today electronically, hardcopy or both!
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
The Perfect Gel to Foil Fraudsters
Make no mistake, individuals and businesses SHOULD be using gel ink pens when writing checks. But, this is just one tool to stop fraudsters. At the MBA Bank Management and DIrectors Conference, the FDIC recommended to use gel pens to stop fraud.
As FDIC Special Activities Case Manager, Kristyn Ross, emphasized during her fraud/risk management presentation before 220 guests at our Bank Management & Directors Conference last week-“The Ink Matters”. Kristyn suggested that gel pens should always be used to reduce check fraud opportunities.
The MBA Service Corporation Endorsed Partner, ODP Business Solutions, f.k.a. Office Depot, offers several gel pen choices to stop fraudsters in their tracks. Read more.
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
At Long Last the CRA Final Rule is Here
At long last, the CRA Modernization Final Rule has arrived. And our members did not disappoint when the 1,500 page Rule was released, asking detailed questions about the ins and outs of the new framework within just minutes of its release. “Minutes” may be a slight exaggeration, but we really have received plenty of chats, emails, and calls on this topic since day one and we want to use this platform to go over some of the most commonly asked questions thus far. Read more.
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
Blog: The New R-SAT: Changes in Latitudes, Changes in Attitudes
Channeling our inner Parrot Heads, we asked Bing Chat to write a blog linking the recent Ransomware Self-Assessment updates and the great Jimmy Buffet. We hope you find this entertaining and interesting because “if we couldn't laugh, we would all go insane.” Read more.
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
The Latest from Bankers Alliance
View the Compliance Alliance Question of the Week.
Banking Matters Podcast - Learn about today’s financial trends, topics, and practical matters on the Banking Matters Podcast. Listen to new episodes every Monday! Listen now.
| |
 | |
Let's salute Matt Wezeman from Mercantile Bank, a true inspiration!
Matt's dedication shines through his 7 years of service in the United States Air Force. As a Staff Sergeant specializing in Ground to Air Communications, he played a crucial role in maintaining the radio systems used by air traffic controllers to communicate with aircraft. His deployments included humanitarian missions to Guatemala following Hurricane Mitch in 1998 and support for Operation Northern Watch in Turkey in 2000.
The transition from military service to banking was facilitated by a mentor, Chris Putman, who recognized the potential in Matt's degree in Business Management and Finance. Chris explained that a career as a Credit Analyst was an ideal fit, serving as a springboard for a future in banking and finance.
Today, Matt continues to make a meaningful impact in the banking industry, combining his military discipline and financial expertise.
We're proud to celebrate Matt's journey and dedication, and we invite you to stay tuned for more in the upcoming edition of mbaBanking at the end of November!
| |
Happy #MBA Member Monday! Today, we're shining a spotlight on Wipfli, associate member of the MBA. With Wipfli, members can access substantial resources of a large consulting firm and the personalized service of a small, dedicated team. Since 1930, Wipfli has been at the forefront, creating value and securing the future for their clients, their businesses, and the broader community. They are not just about history; they are building the future. Learn more: https://www.wipfli.com/ | |
 | |
Today, we're honored to highlight Matthew McMichael from The State Bank as part of the Michigan Bankers Association month-long U.S. Veterans in Banking Campaign!
Matthew's incredible journey began with a sense of duty as he enlisted in the US Army shortly after high school. Opting for the infantry, he aimed to develop strong leadership skills. After completing basic training at Fort Benning, Georgia, he delved into advanced training in mechanized infantry, mastering the operation of the Bradley Fighting Vehicle.
Stationed with the First Battalion, 16th Infantry Division in Germany, Matthew took on the role of a Bradley Fighting Vehicle driver.
As world events unfolded, his unit was deployed to Saudi Arabia during Operation Desert Shield to provide vital support and security during a tense time. Despite the challenges, Matt's unit returned to Germany just before Operation Desert Storm.
After his deployment, Matthew was stationed at Fort Riley, Kansas, where he completed his enlistment with the Second Battalion, 16th Infantry Division, also known as the "Big Red 1."
Don't miss the upcoming edition of mbaBanking at the end of November to delve into Matthew's remarkable story!
| |
Like Us. Follow Us. Share with Us! | | | | |
