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SCHOLARSHIPS

Congratulations to Scholarship Recipients

Congratulations to the MBA Perry Schools of Banking scholarship recipients, awarded this week by the Mid-Michigan Banking Group. Thank you to MMBG for your generous support of professional development.

Pictured below from left to right are Savannah York, Southern Michigan Bank & Trust, and Rose Willson, Union Bank of Michigan, with MMBG Director, Nicole Kozminski, Independent Bank.

ABA FOUNDATION

Webinar: Resources for Teach Children to Save Day

April 25 is Teach Children to Save Day. The ABA Foundation will hold a free webinar on Monday, April 22, at 1 p.m. EDT on its new and redesigned materials for the event. The webinar will help banks prepare by showcasing quick-turn resources for in-person and virtual lessons, as well as share stories of banks that participated in Teach Children to Save Day. Register for the webinar. Learn more about the Teach Children to Save program.

GRASSROOTS

Congressman Bill Huizenga Event, April 25

MiBankPAC will host a luncheon fundraiser for Congressman Bill Huizenga in Lansing at noon on April 25.

Contribution levels:

Chair- $2,500 PAC or $1,000 personal
Host- $1,000 PAC or $500 personal
Attendee- $250 per person

To learn more, contact Rann, rpaynter@michigan.bank. Access the invitation.

DIVERSITY, EQUITY AND INCLUSION

MBA DE&I Forum

May 1 | Virtual

The MBA is hosting the next Virtual DE&I Forum on May 1. This opportunity will allow you to connect with your peers around the industry regarding Diversity, Equity, and Inclusion. DE&I is a journey we all are on whether you’re just starting out or a seasoned veteran. This forum is meant to bring us together to make the industry a more diverse and inclusive space for your teams and customers.

Access the latest MBA DE&I Newsletter.

MBA NEWS

MBA Overwent a Roof-Top Upgrade

Your MBA recently underwent some upgrades to the roof-top split system furnace unit earlier this week. A big thank you goes out to Matt Szubinski, our Chief Operating Officer and Chief Financial Officer, for his diligent efforts in ensuring a smooth transition!

MBA NEWS

Preparedness Pays Off

Recently our team, along with our neighbors/tenants upstairs at the Community Mental Health Association, held a tornado drill. How fortunate to have that rehearsal as we had a tornado warning yesterday afternoon. Our team assembled quickly into our ‘shelter’ and fortunately were unscathed. Please be sure to be prepared for emergencies, including tornados.

PROFESSIONAL DEVELOPMENT

For 138 years, we've gathered to celebrate our industry, recognize our leaders, and enhance our abilities to serve our customers and communities. We are a vibrant community of bankers dedicated to shaping a prosperous future for our field. Let's celebrate! The unparalleled energy of collaboration and creativity that permeates our industry when we convene on the island is unmatched. Register now and secure your accommodations.

Looking forward to seeing you in June!

Accommodations

UPOAA

Uniform Power of Attorney Act Webinar

April 23 | 3:00-4:00 pm EST

A new law in Michigan is designed to provide for increased accessibility, effectiveness, and standardization for POAs. The Uniform Power of Attorney Act (UPOAA) was signed into law by Governor Gretchen Whitmer on November 7, 2023, and will take effect on July 1, 2024.

Speaker: Melissa K. Bridges, Bodman

After registering, you will receive a confirmation email containing information about joining the meeting. A recording will be available.

REGULATORS

Join us July 9-10 in Chicago, IL for roundtable discussions with the Federal Reserve Bank of Chicago leadership, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC).

Discussions will include sharing perspectives and experiences on how regulations affect customers and Michigan banks. Register.

LANSING

Payday Lending in the Legislature

The Michigan House Financial Services Committee took testimony today on HB 5290 and SB 632 to limit deferred presentment transaction companies to charging more than the 36% usury rate cap. The MBA has long been engaged in discussions with the bill sponsors and legislative and committee leadership on a variety of subtopics around payday loans. When it comes to access of credit, we are always here to serve our customers with lending products that meet their needs. However, when a customer is unable to meet credit requirements, they are in need of a properly regulated subprime lender. There is significant support for the passage of this legislation and the MBA via our policy committee determination, remains neutral on these bills. We have also made it clear that we support a system that does not create greater ease for a well qualified customer to go to a payday lender to their detriment.

LANSING

House Labor Committee Hears State IRA Plan

MBA attended a committee hearing on a state funded IRA program for employers who do not currently offer retirement savings plan to employees. MBA supports encouraging individuals savings but has some concerns with mandates included in the bill on employers. We will continue to monitor this legislation and work with bill sponsors to improve.

LANSING

Senate Civil Rights and Judiciary Committee

MBA is working with bill sponsor Representative Will Snyder to include a financial institutions exemption in House Bill 4960. The bill would bar employers from maintaining past criminal records of prospective applicants.

ELECTIONS

Michigan House Special Election Results

Democrats won back a majority in the Michigan House and restored their party’s full control of state government Tuesday thanks to victories in two special elections in vacant seats in Warren and Westland. Mai Xiong won the special election in the 13th District, which covers Warren and part of Detroit, while Peter Herzberg won in the 25th District, which contains the cities of Wayne and Westland. Both candidates were favorites in the heavily Democratic districts. The lower chamber has been tied 54-54 between Democratic and Republican lawmakers since November.

MBA will be reaching out to begin relationship building and banking education efforts to these newly elected Representatives in the coming days.

FINANCIAL LITERACY

MI Money Matters Provides Michiganders with a Virtual Tutor for Financial Empowerment

As a part of Michigan’s Financial Literacy Month, Lt. Governor Garlin Gilchrist II announced the launch of “MI Money Matters,” a free financial empowerment platform for all state residents and beyond.

Powered by Enrich – a personal finance program endorsed by the National Association of State Treasurers -- MI Money Matters features dynamic tools and courses, delivering a highly personalized and interactive experience that includes a financial behavior assessment that analyzes each user’s financial “personality.” Learn more.

FRAUD

FinCEN Warns of Financial Fraud with Counterfeit Passport Cards

The Financial Crimes Enforcement Network, in coordination with the U.S. State Department, issued a notice to financial institutions on fraud schemes related to the use of counterfeit U.S. passport cards. The notice provides an overview of typologies associated with U.S. passport card fraud, lists select red flags to assist financial institutions in identifying and reporting suspicious activity, and reminds financial institutions of their reporting requirements under the Bank Secrecy Act, according to FinCEN. Read the notice.

CONGRESS

ABA Supports Bills to Overturn Late Fee Rule, Prohibit Insurance Data Collection

ABA expressed support for three bills that appeared before the House Financial Services Committee earlier this week during a markup hearing, including a resolution to overturn the CFPB’s credit card late fee rule. H.J. Res. 122, sponsored by Rep. Andy Barr (R-Ky.), would overturn the rule if approved by both houses of Congress and signed by the president. In its letter, ABA noted that it had previously joined other associations in warning about the long-term harm the rule would impose on consumers. Read more.

CONGRESS

Senate Resolution Would Overturn SEC Climate Disclosure Rule

More than 30 senators are cosponsoring a Senate joint resolution to overturn the Security Exchange and Commission’s climate disclosure rule. The resolution, which is being led by Senate Banking Committee Ranking Member Tim Scott (R-S.C.), would strike down the rule if passed by both houses of Congress and signed by the president. An identical resolution has been introduced in the House. Read more.

PROFESSIONAL DEVELOPMENT

It's Time to Fight Back!

Banks are losing money to criminals every day. The Fraud Academy is a “first of its kind” two-day school that will train employees at all levels of your institution on fraud risk and what they can do fight it.

Learn from FBI, Secret Service Agents and more. Customized for bankers like you. Join us at this multi-state event in downtown Lexington or virtually!

Learn More and Register

PROFESSIONAL DEVELOPMENT

Midwest CEO Peer Group

Chicago, IL

RSM Office downtown Chicago | May 15 - 11:00 a.m. – 6:00 p.m. CDT (includes a happy hour)

Virtual via Zoom | September 25 - 9:00 a.m. - 11:00 a.m.

This six-state regional Midwest CEO Forum provides instant access to a confidential, best-fit peer group that is sure to form lifelong connections. This forum is designed to curate an inner group of high-performing CEOs to discuss industry best practices, issues, and challenges.

$400 Fee Per Person (Includes 2 sessions)

Learn More and Register

PROFESSIONAL DEVELOPMENT

Learn More and Register

PROFESSIONAL DEVELOPMENT

More Information

MBA SERVICE CORPORATION

Medicare 101: Navigating The Fundamentals

Thursday, April 25th | 10:00 A.M | Virtual

MBA Service Corporation Endorsed Partner Michigan Planners is proud to present Medicare 101: Navigating The Fundamentals, featuring Keynote Speaker Fred Goldenberg, who will draw on five decades of industry experience. Please join us as we break through the jargon and alphabet soup surrounding Medicare, empowering you to become a more confident consumer.

MBA SERVICE CORPORATION

Smishing – Text Messaging Gone Rogue

Over 300 million smartphone users across the US send roughly 2 TRILLION text messages each year. However, smishing is still a relatively new attack method in comparison to phishing. Read more.

MBA SERVICE CORPORATION

The Newest Neobank is for the 62+ Crowd

The launch of Charlie points to an underserved niche in banking: older adults.