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PROFESSIONAL DEVELOPMENT

Rising Leaders Conference - September 19-20 | Mt. Pleasant

As you ascend to new levels of management, it’s critical that you build on your leadership strengths and learn new ways to achieve greater impact. As the next generation of bank leaders, it’s essential to gain leadership skills and knowledge of the banking industry, and network with peers.

• Collaborate and network with next generation banking peers from across Michigan.         
• Gain tools for leadership skills for your career in banking.
• Share ideas and industry best practices.
• Leave with strategies and tools to thrive in an ever-changing environment.

GRASSROOTS

MBA Banker Day at the Capitol | September 6

Cost: FREE

MBA Banker Day at the Capitol will take place at the newly constructed Heritage Hall located adjacent to the Capitol building.

Get the lowdown on what is happening in Lansing, listen to our informative Keynote, lunch with legislators, and take a Capitol tour that is sure to impress.

DISASTER RELIEF

Wildfire Disaster Relief Effort - The Hawaii Bankers Association announced the launch of “Aloha for Maui,” a program accepting donations at any of its member branches statewide to assist the people, businesses and organizations impacted by the Maui wildfires. Monies collected will be donated to the Hawaii Community Foundation Maui Strong Fund, which is providing the resources necessary to aid with disaster response and recovery. To kick off the effort, HBA is donating $25,000 to the fund. Learn more and donate.

ELECTRONIC, LEIN, AND TITLE

ELT Mandatory Enrollment Date- Oct 1, 2023

MDOS has announced that October 1, 2023 is the mandatory ELT enrollment date for lenders who finance vehicles in Michigan. This means that in order to have their lien placed on a Michigan vehicle title on or after the October 1, 2023 date, the lender will need to be enrolled in the Michigan ELT program and provide their lienholder ID number to the entity completing the application for title. Lenders are encouraged to enroll well in advance of the 10/1/23 date to maximize the benefits of ELT utilization. Questions regarding Michigan’s ELT program may be submitted to the department by emailing: mdos-miefs-elt-helpdesk@michigan.gov. 

REGULATORS

Gruenberg: Agencies to Propose Long-Term Debt Requirement for Larger Banks - Federal banking regulators will soon propose a long-term debt requirement for banks with more than $100 billion in total assets, a decision influenced by the recent bank failures, FDIC Chairman Martin Gruenberg said yesterday. In a speech at the Brookings Institution in Washington, D.C., Gruenberg outlined additional steps federal regulators are taking in response to the bank failures earlier this year. They include a new long-term debt requirement, previously proposed tougher capital standards for banks over $100 billion, and strengthened resolution planning for banks over $50 billion. Read more.

REGULATORS

FDIC to Tighten Resolution Plan Reporting - The FDIC will also propose strengthening resolution plan requirements for banks over $100 billion, and while smaller banks will not be required to submit full plans, the agency is still planning to require additional details from banks with more than $50 billion, Gruenberg said. Read more.

REGULATORS

ABA Disappointed with Proposed Regulatory Changes - The proposed regulatory changes announced earlier this week by Gruenberg echo the misguided capital changes unveiled in July and will only make it harder for already safe and sound banks to serve their customers and communities, ABA President and CEO Rob Nichols said in response to the FDIC chairman’s remarks.

Just as concerning was Gruenberg’s call for altering the supervisory treatment of uninsured deposits and labeling them as unstable for purposes of deposit insurance pricing, Nichols added. “As the FDIC considers possible changes, it must recognize that uninsured deposits are not uniform and not an accurate proxy for liquidity risk or the effectiveness of liquidity risk management.” Read more.

FINANCIAL LITERACY

Banks Encouraged to Join Chair Carter for Financial Literacy Event - House Financial Services Chair Brenda Carter is hosting an event this Friday to connect banking resources with the local community in Wyoming. Please see details below. We hope that all banks in the Grand Rapids market are able to participate as a vendor to assist in the Chair’s efforts. Learn more.

RESOURCES

Check Fraud Claim Directory Grows in Size - More than 1,000 banks have joined the ABA Check Fraud Claim Directory since its July launch, and the association is encouraging other banks to join and use the online tool to help resolve check fraud claims more efficiently.

The check fraud directory lists contact information for banks that need to file a check warranty breach claim with another financial institution. It is searchable by bank name, city, state or FDIC number, so banks can find the right contact at the institution to help resolve a warranty breach claim. The directory is available to ABA members and non-members alike, and ABA is encouraging all banks to participate to maximize the utility of the resource.

To access the directory, banks must submit the appropriate claim contacts for their institution. Those submissions will be verified by ABA before they are entered into the system. Learn more.

ECONOMY

FOMC Minutes: Members Split on Need for Most Recent Rate Increase - Federal Open Market Committee (FOMC) members were somewhat divided about the need to once again raise the federal funds rate, although ultimately all agreed to do so, according to the minutes from the FOMC’s July meeting released this week. The committee raised the rate’s target range by 25 basis points to 5.25% to 5.5% last month after approving a pause in June. The decision to raise the rate was unanimous, but a couple of members said that they favored leaving the target range unchanged or would have supported such a proposal. Read the minutes.

GRASSROOTS

Grassroots Corner

Are the below legislators not your legislators? If not, click on the links to search for your State Senator and State Representative. Find your State Senator. Find your State Representative.

PROFESSIONAL DEVELOPMENT

PROFESSIONAL DEVELOPMENT

PROFESSIONAL DEVELOPMENT

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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.

Do you need to fill ongoing operational gaps? Right now, many banks are facing stop-gap performance throughout the institution. Whether it’s struggling to replace loss of a key member, the lack of resources in the face of growth, or the need for operational compliance continuity—Bankers Alliance has the remedy.

With budgets on the horizon, now is the time to understand how B/A can help your group. Learn how to build a more solid program when you talk with our Membership team at (833) 683-0701 or info@bankersalliance.org.

This week on LinkedIn...

NEW Job Alert! Check out the latest job postings at BankTalentHQ, a MBA Service Corporation Endorsed Partner!

Apply today: https://conta.cc/30OAnLF

Happy #MBAMemberoftheWeek! We are highlighting our Associate Member United Bankers' Bank! United Bankers' Bank provides correspondent banking and consulting services to community banks around the nation. Learn more here: https://www.ubb.com/

Credit cards have become an everyday tool for people to make purchases and manage their personal finances. Check out these facts and tips from the American Bankers Association Foundation on credit cards: 

https://aba.social/3i7NWv8

#FinLitFriday

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