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Alyssa, don't miss these important MBA updates...
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MICHIGAN LEGISLATURE
Legislature Sine Die’s for the year
The Michigan legislature adjourned sine die this past week for 2023. Since this is the first year of a two-year term, all bills remain alive and viable when they return in 2024. We will keep you posted on plans for the session in 2024 when schedules are released.
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MICHIGAN LEGISLATURE
Huizenga et al Pushing Back on Rulemaking
Last week, Congressman Huizenga, along with Representatives Meuser and Mooney, shared a letter with Federal Reserve Board Vice Chairman Barr, Federal Deposit Insurance Corporation Chairman Gruenberg, Consumer Financial Protection Bureau Director Chopra and Acting Comptroller of the Currency Hsu expressing deep concern over recent and pending rulemaking governing products and services of our industry. The letter cautioned about the agencies “pursing rulemaking activity with far-reaching unintending consequences with no end in sight. It is critical that these proposals and actions are not seen in a vacuum and the full scope of their total impact on financial institutions be assessed.”
The letter highlights the individual and conflicting impacts of the recently released Basel III rule and CRA and their detrimental combined impact on mortgage lending and small business lending.
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REGULATORS
Barr: Fed Seeking to Empower Supervisors Following SVB Failure
The Federal Reserve is working to let its supervisors know that they should act “with force and agility” when they identify potential problems at banks, Fed Vice Chairman for Supervision Michael Barr said Friday. The Fed released an internal report in April on the Silicon Valley Bank failure that concluded that its supervisors did not elevate concerns about the institution as it grew in size and complexity. During a Q&A at the Clearing House annual conference in New York City, Barr was asked what the Fed doing to change its culture to avoid the mistakes of SVB in the future. He said that in its training and guidance, the Fed is seeking to “empower” supervisors, so they feel comfortable raising concerns about the institutions they oversee.
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REGULATORS
FDIC Chair Gruenberg to be investigated by Republican-led House Committee Over Conduct at the Agency
The House Financial Services Committee has launched an investigation into Federal Deposit Insurance Corporation Chair Martin Gruenberg’s conduct at the agency, members of the committee announced on Friday.
This comes after a Wall Street Journal investigation based on interviews with more than 100 current and former FDIC employees found that the agency rarely disciplined managers accused of sexual misconduct and other offenses. Read the full article.
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REGULATORS
Fed Announces 2024 Pricing for Payment Services
The Federal Reserve announced new pricing for the payment services that Fed banks provide to depository institutions, such as the clearing of checks, ACH transactions, and wholesale payment and settlement services. The changes take effect Jan. 2, 2024. The Fed also announced that it will maintain the current schedule for the FedNow service, inclusive of discounts. Read more.
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ABA CONFERENCES
Early Bird Deadline for CCB is Nov. 30
The early bird registration deadline for the ABA Conference for Community Bankers, to be held Feb. 11-13 in San Antonio, is Nov. 30. Bankers must register by that date to take advantage of discounted pricing.
Make plans now to join us for the largest gathering of community bankers!
Keynote speakers at this year’s conference include former ESPN analyst and Dallas Cowboy Darren Woodson; author Nikolas Badminton; author and entrepreneur Simon Bailey; and authors and leadership experts Colin Coggins and Garrett Brown. Educational sessions will cover topics including profitability, finance, operations, human capital, technology, commercial real estate lending and more. Register now.
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People who attend meetings are there to learn from and interact with financial industry professionals like you! They are more open to new services and products, which can be a great opportunity for your brand. Reserve your booth or sponsorship today! Be actively involved to make the connections that will be meaningful. You will see the results.
Join us for an upcoming event:
- Bankers Education Summit and Trade Show (BEST) - March 20-22, Traverse City
- Women in Banking Day - May 21, Bath
- 138th Annual Convention - June 19-21, Mackinac Island
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Sponsor, Speak or Exhibit:
Gain access to bankers in an exclusive environment
- Shape or reinforce a positive perception of your company with Michigan bankers
- Wide selection of sponsor opportunities to match your budget needs
- Build your brand and generate new leads by connecting with our bankers
Submit a speaking proposal.
Write an article.
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Commercial Credit Analysis Series
This four-session series will prepare bankers to successfully analyze credits and make wise, evidence-based loan recommendations in today's banking environments, where they must have the skills and flexibility to respond to a wide range of loan requests. Participants may choose to enroll in the entire four-session series, or they may choose to enroll in individual sessions that meet unique development needs.
View the brochure.
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MBA SERVICE CORPORATION
Fraud Resources From Compliance Alliance
MBA-owned company Compliance Alliance has many resources for your bank regarding fraud. View the complimentary webinars:
For more information, please contact Jill Verscheure, SVP, MBA Service Corporation to learn more and access more tools.
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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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MBA SERVICE CORPORATION ENDORSED PARTNER
Hacker Hour: What's Hot in Social Engineering
Wednesday, Nov. 29 | 2:00 - 3:00 PM CT | 3:00 - 4:00 PM ET
Social engineering is the art of manipulating people into performing actions or divulging confidential information. It is one of the most common and effective methods of cyberattacks, as it exploits human psychology rather than technical vulnerabilities.
In this webinar, you will learn about the latest trends and techniques in social engineering, such as phishing, vishing, and smishing. You will also learn how to protect your organization and customers from these emerging threats.
Can't join the live webinar? That's ok! Register to attend and SBS Cybersecurity will provide you with access to the webinar recording.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Prevent a Data Breach. Be Proactive - According to Shred-It’s 2023 Data Protection Report, almost all small business leaders (SBLs) surveyed agree that data and information protection should be top priorities and that this type of protection has never been more important than it is today. Many SBLs and consumers have either experienced a data breach in the last year, or fear they will due to the very high likelihood. Read the Data Protection Report. Learn more about Shred-It here.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Banks Must Up Their Social Media Game to Connect with Digital Natives
Demographically, “digital natives”—those born after 1989 who have lived their whole lives immersed in technology—will soon comprise half of the U.S. population. Today’s bank leadership teams and customer bases are skewed toward the “digital immigrants” born before 1989, enabling competitors to jump ahead on building trust with the explosive "natives" half of the market.
Banks looking for the next wave of growth need to think about making significant investments in their marketing department budgets and resources. Read more.
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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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Meet Robert Stanley, a true hero, and an integral part of Southern Michigan Bank & Trust!
Robert's military service took place aboard the USS Des Moines CA-134, a heavy cruiser, where he played various vital roles. As part of the captain's gig while anchored at Port of Call and as a leading sailer in the Fourth Division while the ship was underway, he demonstrated his unwavering commitment to the Navy. Robert even completed the military requirements for Petty Officer Second and Third Class. His battle station was one of the five-inch 38 caliber gun mounts, showcasing his contributions to the ship's safety and defense.
After his dedicated service in the Navy, Robert turned to friends in the banking industry for guidance, leading to a banking career that has spanned over half a century. Throughout the years, he has held various positions, from Vice President/Branch Manager to Mortgage Lender, Commercial Lender, and Consumer Lender. Currently, he continues to contribute part-time to the Adjustments Department, demonstrating his enduring dedication to the industry. His commitment to banking is further evident in his service on the Michigan Bankers consumer loan committee in 1980.
Robert's journey from the Navy to banking is a testament to his unwavering dedication and service, and we're honored to celebrate his inspiring story!
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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!
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We are honoring Kevan Van Fleet from Union Bank of Michigan for his remarkable 20 years of service in the United States Navy!
Kevan's two decades of military service were marked by an exceptional role—he served as a member of the nuclear submarine crew. The intricacies of his responsibilities within the depths of these submarines were a world apart from the civilian sector, but the experiences and skills he garnered would go on to shape his future career.
Kevan's journey to banking was partly inspired by a fellow Navy friend who had successfully transitioned to the banking industry. Intrigued by the possibilities and motivated by the desire for a new challenge, Kevan found himself embarking on a new mission—this time in the financial sector.
Today, Kevan specializes in commercial lending and plays a vital role in Special Asset and Collections Management, bringing his exceptional skills and experiences from the Navy to the world of finance.
We salute Kevan for his dedication and service, and we're thrilled to celebrate his inspiring story! Stay tuned for more in the upcoming edition of mbaBanking at the end of November!
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