Georgia Bankers Association - The Resource that Empowers

July 11, 2014

 

New Community Outreach Tool Created by SHCPF to Protect the Elderly From Financial Abuse

As a trusted provider of elder abuse prevention programs in our nation's senior care facilities, people rely on GBA Strategic Partner the Senior Housing Crime Prevention Foundation as a resource for information on a wide range of issues both inside and outside of a traditional long-term care setting. Their knowledge of the older American population and their challenges led them to produce the "Preventing Elder Financial Abuse Video Toolkit" which now gives your bank the ability to educate your family, your friends, those in your social organizations and your community at large on how to look for signs of elder financial abuse and how to prevent it. The toolkit includes...
 

How to Build a Strong Card Portfolio

One of the most consistent themes we've heard from GBA member banks in the past couple of years has been the search for new sources of loan growth and revenue. One possible avenue is the Corserv Account Issuer credit card program. Corserv can help a bank systematically build a predictable, profitable, easily managed credit card portfolio. Consumer, small business and corporate card programs available. What's unique about the Corserv Account Issuer card product is that the bank originates, funds and keeps the account balances on its books. Corserv manages the operational and regulatory aspects of account management, including collections. Banks get speed to market with this new card product through Corserv's plug-and-play processes, policies and technologies to support the program. And, Corserv assumes total responsibility for card fraud. Give card-industry expert Jerry Craft a call to discuss how Corserv's Account Issuer product can help your bank. Contact Craft at 404.939.6950 (office) or 404.304.0562 (mobile).
 


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Portfolio Lending Bill - Action Alert

Georgia Bankers Making Grassroots Contacts, Much More Support Needed

In the June 27 Bulletin, we asked bankers to write letters in support of three important regulatory relief bills that are working their way through the U.S. House of Representatives. Of those three, one has received particular widespread support, and momentum is building for a possible floor vote in the House. That bill, H.R. 2673 by Rep. Andy Barr from Kentucky, essentially says that if a bank makes a residential real estate loan and retains the loan in the bank's portfolio, the loan would meet the Ability-to-Repay standards and receive Qualified Mortgage treatment by the regulators. To date, 311 letters have been written by Georgia bankers who have taken advantage of the simple letter-writing process the ABA has generously made available to all banks, ABA members and non-members alike. Let's get more written! GBA chairman-elect Jackson McConnell, Pinnacle Bank, Elberton, who also chairs GBA's Public Affairs Committee, weighed in on the considerable effort you and your peers have put in so far. Read his remarks here...

 

Trust Preferred Securities and Bankruptcy a Hot Topic - Town Hall Session Scheduled Aug. 6

A number of bank holding companies are dealing with the issue of paying dividends on Trust Preferred Securities (TruPS) they'd deferred during the economic downturn. Over the past five years or so the dividends have been accruing on the TruPS and the deferral period is coming to an end. A number of bank holding companies that deferred payments are still unable to service the dividends. Fitch estimates that there is $2.6 Billion of TruPS that will run out of their deferral period over the next several years. In two recent instances, one of which is in Georgia, creditors have filed involuntary bankruptcy cases against bank holding companies from which they are trying to collect dividends. The issue has become a hot topic in the industry. It was a topic of significant discussion at the recent GBA Board meeting, and Bryan Cave's Jerry Blanchard writes a good summary of the issues involved in a blog post. Link to Blanchard's post and learn more about what GBA is doing to educate members about this issue with a town-hall session coming up Aug. 6 in Macon...

 

Director Training Certificate of Completion Available
for Attending New GBA Conference

Bank Directors & Executive
Management Conference - Aug. 27

One of the most popular breakout sessions at the recent GBA annual meeting was led by Karl Nelson, CEO, KPN Consulting. Bankers left wanting to know more, and we've worked with Karl to put together a full-day session for bank management teams and board members. Directors attending will get a certificate of Completion as evidence of participating in the training. This conference is Aug. 27 at the Idle Hour Country Club in Macon. Registration for the conference is only $225 for the first person from each bank and $195 for each additional person from the same institution. Please click here to register for the conference. If you have any questions, please contact GBA's Danielle Driggers, 404.420.2002.

 

Chambliss' Cybersecurity Bill Gets Committee Nod

The U.S. Senate Intelligence Committee this week approved the Cybersecurity Information Sharing Act, a bill authored by Georgia Sen. Saxby Chambliss and California Sen. Dianne Feinstein. The bill expands information shared about cybersecurity threats and defensive mechanisms between the government and companies and within the private sector. The aim is to better thwart computer attacks that steal money, personal information and other sensitive confidential information. Chambliss briefed GBA members about the bill during our visit to Washington, D.C., in May. More details about the Cybersecurity Bill here...

 

Make Early Voting a Field Trip

Remember when we were in school and looked forward to field trips? Yeah, we knew our teachers were really trying to educate us about something; but we also knew we weren't going to be tied to our desks in the classroom, so we all went joyously along. GBA sponsored a field trip this week for our employees living in Fulton County to take advantage of early voting at the Fulton County government complex that's a few blocks from our office. The walk, voting, a quick lunch and we were back to the office in just over an hour. You might wonder why we're telling you this…because we all need to do something to help get more people to the polls to vote in the runoff election coming up July 22. Find out how you can do that here...

 

CNBC Columnist Answers Why We All Need Banks

"Every single one of us, individual or corporate, who wishes to engage in any form of commerce, of any size, needs banks," says CNBC's Moorad Choudhry in a commentary posted this week. Choudhry explains the essential role banks play in facilitating the most basic transactions, something no other so-called disrupter can do. "The money transmission account, which handles operational payments for the customer in and out, in any size, and which can also go overdrawn when said customer suffers cash flow problems, ranks up there with the wheel as one of the great inventions of humankind. Sure, it was created more than 30 years ago, but has only been available to just about everyone within the last 30 years. By supplying that product to princes and paupers alike, banks do a great service to society," he said. "Who else provides them? No one. Not P2P lenders, or crowdfunders. Or Amazon. Or Google." More here...

 

Compliance Conference Session Highlight

Ability-to-Repay / Qualified Mortgages - Opportunities and Risks in 2014 and Beyond

On Jan. 10, 2013, the Consumer Financial Protection Bureau issued a final rule to implement laws requiring mortgage lenders to consider a consumer's ability-to-repay before extending them credit. The CFPB has issued multiple corrections, fixes and clarifications to these final regulations, leaving the industry wondering when or if "final" rules will ever actually become final. Chris Price, Senior Compliance Manager, FIS Regulatory Advisory Services, Orlando, will discuss this issue on day 2 (Loan Compliance focus) of the GBA Compliance Conference. The conference is Sept. 24-26 at the Idle Hour Country Club in Macon. Click here to register online...

 

Minimum Wage Order Not Applicable to Banks,
says ABA

The Department of Labor has issued proposed regulation to implement Executive Order 13658 -- President Obama's directive to raise the minimum-wage rate for workers on federal contracts from $7.25 per hour to $10.10 per hour. Analysis from the ABA indicates that the regulations would not cover banks. Specifically, the proposal does not cover insurance contracts, such as deposit insurance, with the federal government. Read more here...

 

Heirs Can Be Added to Mortgages without Triggering Ability-to-Repay

The CFPB this week responded positively to industry concerns by issuing a rule clarifying that a borrower's heir may be added to a mortgage without triggering the Ability-to-Repay rule. The concern was that without clarification, creditors could have been obligated to determine the ability to repay of a successor-in-interest assuming a deceased borrower's mortgage. "There can be significant consequences for a successor that is not able to become an obligor on a mortgage," the bureau said, noting that the interpretation will allow successors to seek a loan modification if necessary to keep the home.

 

Fans and Loyalty can Follow Financial Literacy Help

There continues to be opportunity for banks to attract and retain customers by helping them better understand basic financial fundamentals. A recent study by the National Foundation for Credit Counseling shows that 73 percent of consumers would benefit from answers to everyday financial questions from a professional, and only 8 percent felt they had a good grip on their personal finances. The report from the NFCC also addresses some myths survey respondents have about credit counseling and the hesitancy by consumers to seek help, many of which banks and bankers can also help dispel.

 

2014 PAC Campaign Off and Running

Following the kickoff to the 2014 BankPAC Campaign at the GBA Annual Meeting, all CEOs should have the PAC campaign materials in hand by now. In fact, several bankers have already responded with their StatePAC and FedPAC contributions getting this year's campaign off to a good start. "Now is the time to respond for the good of our industry," said Tom Wiley, Chairman of the BankPAC Board of Directors and president of State Bank and Trust Company. As a reminder, the GBA StatePAC accepts contributions from a state bank or the holding company of a national bank, while the GBA FedPAC accepts personal contributions from bank officers, directors and eligible employees. GBA Associate Members and Bank Counsel Members are also encouraged to contribute to the StatePAC. Click here for links to PAC contribution forms, group goals and a list of who's already contributed...

 

 

Bank Secrecy Act - Aug. 21

BSA compliance is always a hot topic with bank examiners, who expect that all bank employees, particularly frontline personnel, are well-trained at least annually on the various reporting and recordkeeping requirements for BSA, CIP and OFAC. GBA is aware of the need for this training and has set up a helpful training resource for you and your bank. Take advantage of this seminar Aug. 21 at the Idle Hour Country Club in Macon. This seminar will address the fundamental BSA reporting and recording requirements, including the following topics...

 

Loan Documentation Seminar - Sept. 4

Prevention of loan losses through implementation of proper loan structuring and documentation techniques is critical in the banking industry today. Join Mike Allen, Executive Vice President, State Bank and Trust Company, Atlanta, at GBA's Loan Documentation Seminar as he shares techniques for proper loan documentation. Topics include: background and review, identifying the borrower, identifying the collateral, evidencing the debt, attaching and perfecting the collateral, real estate specifics and much more. Designed for commercial loan officers, commercial loan personnel, loan assistants and closing specialists, the seminar is Sept. 4 at Idle Hour Country Club in Macon. Click here to register online. With questions, please contact GBA's Danielle Driggers at 404.420.2002. 

 

IRA Advanced Update and Review - Sept. 23

In a landmark case, the courts and IRS have re-defined the "once-per-12-month" rule. Banks must know about this so your customers can avoid huge IRS tax and penalty pitfalls. At this seminar you will learn how to separate fact from fiction for the more technical areas of IRAs. Too many times so-called experts post things on the internet that are vague or many times fabricated about retirement account rules and regulations. IRAs are a specialized area requiring expertise. Come and learn from one of the most respected IRA experts in the country, Patrice Konarik of Sunwest Training Corp. at GBA's seminar Sept. 25. The seminar will be at The Brickyard Golf Club in Macon. Please click here to register for the seminar. If you have any questions, please contact GBA's Danielle Driggers, 404.420.2002.

 


Key GBA Event Reminders
 

Leadership Conference
 

July 20 - 22

Click here to register

Compliance Conference
 

Sept. 24 - 26

Click here to register

President/CEO Conference
 

Oct. 12 - 14

Click here to register

Bank Counsel Conference
 

Oct. 12 - 14

Click here to register

Bank Accountant Conference
 

Oct. 12 - 14

Click here to register


 

GBA Community Connections

GBA Members Support Valuable Community Outreach and Advocacy Programs

Click here to read about the latest good works by various GBA members. We want to share all that GBA members do to support their communities. Submit your community information to Bo Brannen and
David Oliver.

 

Community Connections is brought to you by Diebold Inc.

For more than 150 years, Diebold, Incorporated, has brought together a combination of innovation, expertise and quality service to become a global leader in providing integrated self-service solutions, security systems and services. Find out more about Diebold here.

 

Newsmakers

Read about all the Georgia Bankers making news this week...

 

Sinyard

Wade

 

Ward

Baker

 

Read All About It: Send Us Your News

Please remember to include the Georgia Bankers Association on the list of recipients for announcements about promotions, new employees and special recognition your bank has received. We want to share your news with your colleagues across the state. Please forward your announcements and photos to GBA's David Oliver and Bogan Brannen.

 

GBA|U
 

 

Leadership Conference
July 20-23
Ponte Vedra, FL

Bank Director and Executive Management Conference

Aug. 27
Macon

Compliance Conference
Sept. 24 - 26
Macon

President/CEO Conference
Oct. 12 - 14
Greensboro

Bank Counsel Conference
Oct. 12 - 14
Greensboro

Bank Accountant Conference
Oct. 12 - 14
Greensboro

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