IBANYS Weekly E-Newsletter |
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President's Message
What can I say!! We, at IBANYS, are very happy with the turnout, the great speakers and the fantastic energy during the three days at Turning Stone! Thank you for taking the time to come network, eat, drink, play some golf (and a few table games or slots) during the event. It was a busy three days but hopefully all of you had a chance to meet new people, get reacquainted with some old friends and learn more about banking in the future!
Speakers: Thank you for taking the time to travel to speak to NYS community banks. All of you did a great job and had timely information to share with the group. Even our 6 minute drills were informative (a few seconds too long) but very well received!
Exhibitors: Thank you for taking the time to join us and provide an opportunity for the bankers to visit with you at the booth and hopefully you had the opportunity to build rapport at breakfast , lunch and dinner. We hope you will consider coming back again next year and joining us for the next IBANYS convention.
Sponsors, Associate Members and Preferred Partners: Once again, you were all unbelievably supportive of this year’s convention. Without you and your continued support of IBANYS and community banking, we would not be able to put on a top-notch event every year! You make this possible and IBANYS and our Board of Directors appreciates everything you do for us, but more specifically, for our community banks!
Silent Auction Donations (and winners): We raised over $3200 for IBAPAC! For those “WINNERS” who bid on the auction items….thank you! For those who donated the items – THANK YOU.
Again, we hope you all had a great time….. I am not a psychic, magician or mind reader like Michael Gutenplan, but I hope to see all of you for IBANYS convention next year! Stay tuned for our fall meeting September 13-15. We are finalizing places and agenda for the Bankers Symposium!
All the best,
John Witkowski and Linda Gregware
Don't miss the "Save the Date" reminder for IBANYS' major fall meeting: Our Executive Bank Symposium September 12 - 13 in Lake George.
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ICBA released a summary of the banking agencies’ proposed update to Community Reinvestment Act regulations. The summary—which spotlights the plan’s proposed updates to asset thresholds, assessment area rules, and more—is designed to help community bankers submit personalized comments on the proposal by the Aug. 5 comment deadline. In a national news release after the proposal was issued last month, ICBA said it is encouraged that the proposal would tailor CRA evaluations and data collection for community banks, though regulators should ensure the plan meets the needs of all community banks and the communities they serve. View the summary.
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John Witkowski & Mario Martinez, IBANYS Chairman |
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Tony Repanich, Richard Drennen, Shield Compliance & Steve King, Wolf & Co. |
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Michael Gutenplan, Mentalist |
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Derek Williams - ICBA Incoming Chair |
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September 12-13, 2022
Executive Bank Symposium
Lake George, NY
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ASSOCIATE & PREFERRED PARTNERS |
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Aug 8-11, 2022 Virtual/Live Training
HR Management 2022
This workshop is designed to provide intensive training for employees in Human Resources Management.
TOPICS INCLUDE
- Employee Recruitment, Selection, and Placement
- Situational and Behavioral Interviewing
- Driving Employee Engagement
- Creating an Accountability Culture
AUDIENCE
- Human Resource Managers
- Branch Managers
- Department/Division Managers
- Management/Hiring/Coaching/
- Counseling Responsibilities
Instructor, Kerry Sauley, is the Marjorie B. Ourso Excellence in Teaching Professor at Rucks Department of Management, Louisiana State University, Baton Rouge, LA.
PRICE:
IN PERSON: $695
VIRTUAL (VIA ZOOM): $595
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IBANYS Welcomes Engage fi - New Associate Member
5550 W Executive Dr., Suite 540
Tampa, FL 33609
Jake Fowler, Director, Business Development
(615) 516-4027
jake.fowler@engagefi.com
The team at engage fi is a blend of consultants, educators, matchmakers, integrators and advocates. We are laser-focused on guiding financial institutions through our proven process and enabling them to make informed, timely decisions on vendor relationships so they can change at the speed of the consumer. Let’s Engage! www.engagefi.com
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Increase Customer Engagement with High -Value Credit Card Loyalty Programs |
Card loyalty programs are a proven marketing tactic, offering the ability to reward and incentivize customers. Although card loyalty programs are not new, today’s options are significantly different, even from just a few years ago.
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IBANYS Welcomes
Advanced Media New York
New Associate Member
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A full digital marketing and media company.
220 S. Warren Street
Syracuse, NY 13202
Barbara Feeley, Account Manager
(315) 282-8573
dfeeley@advancedmediany.com
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Jun 14, 2022 | Press Release
June 15 is World Elder Abuse Awareness Day, and the Independent Community Bankers of America and its Senior Housing Crime Prevention Foundation subsidiary are providing tips for preventing the disturbing trend of elder financial abuse.
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Superintendent of Financial Services Harris announced the State Department of Financial Services (DFS) promulgated a proposed check cashing regulation following the emergency regulation announced in February. The proposed reg sets forth a new fee methodology which evaluates the needs of licensees and consumers who use check cashing services. The proposed regulation also recommends two tiers of fees for check cashers, similar to the approach that many other states take. The maximum fee that any check casher can charge for a public assistance check issued by a federal or state agency is 1.5%. This includes checks for social security, unemployment, emergency relief, veteran’s benefits, and the like. For all other checks, the maximum fee that any check casher can charge is 2.2% or $1, whichever is greater. Beginning in January 2027 and every five years thereafter, the industry may request an increase in the maximum fees established. Read the details: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202206151
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After adjourning the regular 2022 legislative session earlier this month, the State Legislature "will likely return" for a special session if the U.S. Supreme Court strikes down New York gun laws. However, but the timing remains unclear.
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Recently redrawn Assembly lines will stay in place for now – but a judge will redraw them before the 2024 elections. Meanwhile, a legal challenge to consolidate New York's primary elections in August was rejected by the state Court of Appeals, likely exhausting the legal avenues in state court to make the change. Read More. Because of the lengthy battle over redistricting this year, some primary contests — those for the state's congressional and state Senate — have been delayed until Aug. 23. Here's a look at some of the key races coming up first. Read More
REMINDER: LEGISLATIVE SESSION ACTIONS
The New York State Legislature adjourned for 2022 without allowing credit unions to bid on municipal deposits, and did not approve establishing a state bank or public banking at the state or local levels. Summary:
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Credit Unions/Municipal Deposits Legislation: Before leaving Albany, the Senate passed legislation in the closing hours to allow credit unions to accept and secure deposits from municipal corporations. However, the bill was never taken up by the Assembly. Following extensive discussions with IBANYS, New York community bankers and our allies, Assembly Banks Chair Pat Fahy (D-Albany) withdrew her Assembly version of the bill in May, saying it needed more work before being resubmitted for consideration. The bill was never put back on the agenda.
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Legislation To Establish Public/State Banking In New York: Legislation to establish a state bank, and/or to allow localities to establish public banks at the level was introduced in both houses. IBANYS, New York community bankers and our allies met repeatedly with both the Senate and Assembly Banks Committee Chairs (Senator Sanders, D-Brooklyn, and Assemblywoman Pat Fahy, D-Albany) to explain our position and concerns, and to propose alternative approaches to meet the needs of unbanked and underbanked communities by utilizing existing vehicles. In the end, the only bill considered in either chamber was one to create a temporary special commission "to conduct a feasibility study on the formation and control of a state public bank." The State Senate passed that legislation, but the Assembly did not bring it to the floor for a vote.
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The Federal Reserve yesterday raised target interest rates by 75 basis points and lowered its economic growth projections for 2022 as it seeks to rein in runaway inflation. Federal Open Market Committee raised the federal funds rate target to a range of 1.5% to 1.75% following a 50-point increase in May and a 25-point hike in March. The Fed also predicted a faster pace of rate increases, raising its projected 2022 median rate from 1.9% to 3.4%. The Fed also lowered its projection for 2022 GDP growth to 1.7% from 2.8% in March. It increased its expected rise in consumer inflation from 4.3% to 5.2% and in unemployment from 3.5% to 3.7%.
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The House passed legislation that includes an ICBA-opposed provision to further empower credit unions without ensuring they serve low-income individuals. The House-passed Federal Reserve Racial and Economic Equity Act (H.R. 2543) includes the ICBA-opposed Expanding Financial Access for Underserved Communities Act (H.R. 7003) to expand credit unions’ field-of-membership and commercial-lending powers. In an ICBA-led grassroots campaign and series of letters since the bill was first considered last month, ICBA and state community banking associations have strongly opposed H.R. 7003, saying it serves as a “poison pill” provision of the larger bill. On a party-line vote, the House voted down amendments to rescind the credit union provision and to repeal Section 1071 small-business data collection and reporting requirements. In recent op-eds, ICBA President and CEO Rebeca Romero Rainey wrote:1) On Medium that H.R. 7003 would expand credit union powers while states are pushing back against credit union overreach; 2) In American Banker that the Consumer Financial Protection Bureau should tailor its Section 1071 rulemaking.
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ICBA called on House appropriators to oppose any proposed amendments to the fiscal 2023 appropriations bill that would support a postal banking pilot program. In a letter to House Appropriations Committee members, ICBA said the lackluster results of a postal banking pilot program launched last September should prompt policymakers to abandon postal banking proposals. The existing pilot program offers check cashing, bill paying, ATM access, and expanded money orders and wire transfers at locations in Washington, D.C.; Falls Church, Va.; Baltimore; and the Bronx, N.Y. Pilot Pushback: The Postal Regulatory Commission has asked the USPS why it didn’t seek the commission’s approval before launching the program last year, citing federal law requiring the commission’s approval. Key House Republicans have slammed USPS for extending the pilot earlier this year. In a LinkedIn op-ed last month, ICBA President and CEO Rebeca Romero Rainey said postal banking would expose taxpayers to additional subsidies and financial rescues while harming the USPS’s primary function of mail delivery. A three-part series of ICBA issue briefs delivered to policymakers last year offers alternatives for reaching the unbanked.
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The House Financial Services Committee postponed its markup of several key bills after Chairwoman Waters (D-Calif.) tested positive for COVID-19. The committee has not announced a makeup date. The committee was set to consider ICBA-advocated legislation to close the industrial loan company loophole and ICBA-opposed measures to implement overdraft and small-business restrictions. ICBA has been urging community bankers with representatives on the committee to speak out on the bills via a customizable action alert. In letters to the committee from ICBA and other groups this week, ICBA explained the importance of preserving the separation of banking and commerce while underscoring the negative impact of overdraft restrictions and new hurdles to small-business communication.
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The American Banker reports that a long-running conservative push to undercut federal regulatory authority could shake the foundations of U.S. banking law, for better and worse. Read story →
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SEC Chairman Gensler expressed concern that new crypto legislation sponsored by Senators Lummis (R-Wyo.) and Gillibrand (D-N.Y.) could undermine existing protections in the capital markets. It would remove some digital tokens from the SEC's purview, but Gensler said some crypto assets already qualify as securities under SEC jurisdiction.
- The Small Business Administration barely reviewed many applications for emergency relief early in the pandemic and directed employees to approve applications with obvious signs of fraud, according to a report released Tuesday by a congressional oversight committee.
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