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Alyssa, don't miss these important MBA updates...
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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!
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PROFESSIONAL DEVELOPMENT
Check Fraud and Physical Security Workshop – December 12
Highlights include:
• Understanding the Role of “Deter, Detect, Delay, and Defend” in Your Bank Strategies
• Insight into the Criminal Mind and How They View Your Crime Prevention Efforts
- Hot Off the Press Check Fraud Schemes Targeting Banks
- Techniques and Terminology to Dissect Fraud Schemes
- Recruiting Co-Conspirators – From Your Customers to Your Employees
- Use of Telegram, Cash App, Zelle and Deposit Policy Loopholes
- Distinguishing Customer Accounts: Collusive or Victim?
- Tips to Recover Your Stolen Funds – Following the Money
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VETERANS
Celebrating U.S. Veterans in Banking on Social Media and in mbaBanking
We are delighted to actively celebrate U.S. Veterans in Banking Month across our social media platforms. We're shining a spotlight on the incredible journeys and achievements of veterans who have successfully transitioned into the banking industry. Visit our social media profiles on platforms such as Facebook, Instagram, X (formally Twitter), and LinkedIn to join in celebrating these remarkable individuals and their impactful career transitions.
Stay connected with us on social media, and don't forget to keep an eye out for the upcoming edition of mbaBanking magazine.
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GRASSROOTS
Artificial Intelligence Workshop
The MBA was invited to an Artificial Intelligence (AI) workshop hosted by the State of Michigan Department of Technology, Management and Budget last week. Jeanne Richter, Chief Risk Officer at The State Bank attended with the MBA to provide community bank perspectives on AI development in our industry, state government, and insights on future interactions of the two. From Responsible AI to success in public-private partnerships to policy around the use of this technology, the industry was well represented!
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GRASSROOTS
State Legislative Calendar Expectations
After a very lengthy session day on Wednesday, moving a slew of top policy priorities of the Governor and majority party, the Michigan House is expected to go home early today for the week. Our current expectations are that both the House and Senate will adjourn sine die sometime late next week. This would leave only the possibility of a special session at the call of the Governor available should the legislature determine there is more work to be done before December 31, 2023.
GRASSROOTS
U.S. Congress Scheduled through November & December
After votes to sit a new U.S. Speaker for nearly a month, the U.S. House has now refocused its attention on the regular business of running the country. Due to time lost in October, they have added 3 additional weeks of sessions in both November and December. They will be in session every week between now and the end of the year, with the exception of the weeks of Thanksgiving and Christmas.
GRASSROOTS
Alternatives to Garnishment Bills in the Works
The MBA and other stakeholders will meet with the bill's sponsor of HB 4900-01 and SB 408-409 later this week. Your MBA Advocacy team has been working diligently behind the scenes with legislators to find an alternative solution to this package of bills dealing with garnishment and bankruptcy. Sponsors of the bills have heard the industries concerns and our coming to the table to discuss amenable compromise.
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CRA WEBINAR
What You Need to Know about the CRA Final Rule
The federal banking agencies have finalized the long-awaited overhaul of regulations that implement the Community Reinvestment Act. The new rule aims to reflect the digital delivery of financial products and services and enhance economic opportunity for low-and moderate-income individuals and communities. It also has strategic implications for banks that may affect your growth strategy and expansion into new markets.
Join Naomi Camper, ABA’s chief policy officer, and Krista Shonk, ABA’s vice president and senior counsel for fair and responsible banking, regulatory compliance and policy, for a preliminary analysis of the new CRA regulation. This free webinar will discuss top-line takeaways and highlight how it might impact your bank’s business strategy. We will also take your questions!
Note: This free webinar is for bankers only and open to all ABA member and non-member banks.
Questions about the new CRA rule can be submitted in advance by emailing cra@aba.com. Register.
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LEGAL ISSUES
Texas Court Expands 1071 Injunction to Cover All Banks
A Texas court last week expanded a preliminary injunction on enforcement of the CFPB’s Section 1071 small business data collection rule to include all financial institutions covered by the rule. The U.S. District Court for the Southern District of Texas in July granted the injunction to ABA and Texas Bankers Association members in a lawsuit over the rule brought by the associations and the McAllen, Texas-based Rio Bank. ABA and TBA asked at the time for the injunction to apply to all FDIC-insured institutions, but the judge sided with a CPFB request to limit the order to association members. The MBA, ABA and 50 state trade associations signed on to a letter and sent it to support the inclusion of all covered banks in the Texas court injunction.
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FRAUD
Article: What You Can Do When ‘Fraud Never Sleeps’
Fraud can damage a bank’s reputation, hurt customers and amount to major financial losses. To effectively protect the consumer and the organization, it’s paramount to delve into the human side of financial crime, says Kelly Richmond Pope, a nationally recognized expert in risk, forensic accounting and white-collar crime research, in an interview with ABA Risk and Compliance. Read more.
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DIVERSITY, EQUITY & INCLUSION
MBA INAUGURAL DEI Forum
FREE | Virtual
Join us on November 15th at 11:00 a.m. for a virtual MBA Diversity, Equity & Inclusion (DEI) Forum. This forum will provide a valuable platform for our members to engage in discussions, exchange insights, and share experiences related to the implementation of DEI principles in both the workplace and personal lives. It's an excellent opportunity to learn and adopt best practices in this important area.
The forum agenda is made up of topics submitted by attendees. All are welcome whether you are new to DEI or have been on this journey for many years.
Have questions? Contact Ashley Beesley at abeesley@michigan.bank.
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Thank you to the over 200 attendees at the MBA Bank Management and Directors Conference in Rochester!
Key Highlights include:
- Honoring Representative Curt VanderWall with the 2023 MBA Economic Impact Award. Learn more.
- Strategic opportunities were presented in a rising rate environment by Preston Frank, Haberfeld and Will CrayCraft, Hub/Taylor Advisors.
- Succession planning for key roles at your bank was presented by Jack Kasel from Anthony Taylor Training. He had suggested on the key points a to make sure the right people are in the right seats, Invest in (sales) management; and follow a stage-based sales process.
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Access all presentations.
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View the conference photos. This photo album is updated in real-time, so don’t forget to check back!
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Be on the lookout for the Nov/Dec edition of mbaBanking which includes many Bank Management and Directors Conference Speaker and Sponsor articles and photos.
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ABA Women CEO Peer Group
Nov 27, 2023 02:00 PM
Women Lead Workshops help bankers develop critical leadership skills to propel their careers to the next level. Registration is free.
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PROFESSIONAL DEVELOPMENT
Click on the graphic below to learn more.
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PROFESSIONAL DEVELOPMENT
Click on the graphic below to learn more about the Graduate School of Banking.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Data-driven Best Practices Will Help Ensure a Successful Consumer Lending Transformation
In today’s digital-centric environment, consumers expect faster everything – and turnaround time on a loan application is no exception. However, Cornerstone research and data indicate that most banks and credit unions are simply not in step with customer expectations. It’s 2023 and innovations like AI are gaining steam, but dated systems and clunky processes continue to clog the consumer loan pipeline in most financial institutions. Read more.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Control your bank audit program—let R/A scrub the functions and departments that you want checked—stop getting cookie-cutter audits.
Review Alliance wants YOU to guide the process!
Why? Review alliance's audits and special projects address the areas that pose the most risk during examinations, and make sure these programs and policies have the attention they need to be compliant month-after-month, year-after-year.
Of course we do normal audit cycles too—but our services are created to put the focus back on your day-to-day duties, while R/A works for you in the background.
For questions, contact Jill Verscheure, SVP, MBA Service Corporation at jverscheure@michigan.bank.
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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.
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JOB ALERT - Check out the latest job postings on MBA Service Corporation Endorsed Partner BankTalentHQ's job portal.
Learn more about the latest job postings at banktalenthq.com.
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It’s #MBAMemberMonday, and today we’re shining a spotlight on Weltman, Weinberg & Reis Co., LPA! Established in 1930, they’re a nationally recognized, full-service creditors’ rights law firm. They represent a wide range of creditors, including some of the largest U.S. financial institutions, in areas like bankruptcy, consumer and commercial collections, litigation, and real estate defaults. Their commitment to compliance and security standards is unwavering, and they prioritize reputation management. Find out more at www.weltman.com. | |
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🎃👻 Happy Halloween from all of us at the Michigan Bankers Association! 👻🎃
Wishing you a spooky and financially secure Halloween night filled with treats and not tricks! 🍬💰 Remember, just like navigating through a haunted house, managing your finances can be a bit scary at times, but with the right knowledge and your bank's trusted banking resources, you can conquer any financial fear!
Have a fa-boo-lous and safe Halloween! 🕷🕸🦇
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