|November 5, 2014|
In observance of Veterans Day, CBA's offices will be closed on Tuesday, November 11, 2014. A special thank you goes out to all the veterans who have served our country. Please be on the lookout for the next CBA Today enewsletter which will resume on Wednesday, November 19, 2014.
A cold, crisp October morning turned into an absolutely gorgeous Fall day at Barnsley Gardens Resort’s Spring Bank Sporting Club for the CBA Leadership Division’s PAC/PR Clay Shoot. Over 25 bankers and Associate Members participated, and everyone had a fantastic time. Networking, shooting clays in a fun competition and making new friends…what more could you ask for? Oh yeah…perfect weather. And, that we had!
Please make plans NOW to attend the next Sporting Clay Shoot being held Thursday, March 26, 2015, at Wynfield Plantation in Albany. We will have something spectacular to raffle, and again, will award prizes. Mark your calendars!
DBF Issues Proposed Rules for Comment
The Georgia Department of Banking and Finance is seeking comments on a number of proposed rules and changes to existing rules, although only a few changes directly impact banks. Please take note of the favorable proposal regarding the elimination of the requirement to file a GRMA fee statement even if zero residential loans were closed in the period. The CBA appreciates the Department’s proposal to eliminate unnecessary paperwork, fines and fees in this area. Please click here to review the DBF’s proposed rules.
Banker Regulatory Forum Tomorrow!
FHFA Seeks Comments on Home Loan Bank Membership Rule
As reported earlier, the Federal Housing Finance Agency extended the public comment period on its far-reaching proposal to tighten the Federal Home Loan Bank membership rules. The comment period will now end on January 12.
The FHFA proposal would require many banks, thrifts and credit unions to hold 10% of their assets in the form of mortgages in order to maintain their FHLB membership. Smaller institutions with less than $1 billion of assets would have to maintain at least 1% of their assets in mortgages. Currently, applicants have to meet these asset requirements to become a FHLB member; but there has been no on-going requirement to retain a certain percentage of mortgage assets in portfolio.
CFPB and the New Integrated Mortgage Disclosure Rule
The CFPB wants to get the word out to ensure that all creditors know about the implementation support that is available and how to obtain answers to questions on its ruling on Integrated Mortgage Disclosures under RESPA/TILA, with an effective date of August 1, 2015. The CFPB wants to hear from state representatives and creditors about any issues that may conflict with or impede creditors’ implementation of the new disclosures, particularly after they have discussed implementation with their vendors and settlement service providers. The CFPB is encouraging your feedback on this initiative. Please click here to view the CFPB letter.
The Federal Financial Institutions Examination Council released observations from a recent cybersecurity assessment and urged financial institutions to participate in the Financial Services Information Sharing and Analysis Center (FS-ISAC).
The FFIEC issued themes from the recent assessment of more than 500 community institutions and offered guidance on how to assess institutional cybersecurity preparedness. The council of regulators also recommended participating in the FS-ISAC as to identify, respond to and mitigate cybersecurity threats.
Order a Copy of the 2014 Georgia Community Bank Salary Survey Today!
CBA and associate member Nichols, Cauley & Associates, LLC reminds you to place your order for the 2014 Georgia Community Bank Salary Survey. The survey can be a vital tool when determining competitive pay and benefits for employee recruitment and retention. Don't miss out -- order yours today!
Pricing is as follows:
Click here to order a copy of the 2014 Bank Executive Compensation Survey!
On the other hand, the starting point for determining the communities in which a bank has CRA obligations remains rooted in 1977, the year the law was enacted. A bank’s assessment area is delineated based on where a bank has a physical presence. That a bank may engage in nationwide lending or deposit-gathering through the technological advances listed by the regulators is irrelevant to defining its assessment area.
As a result, banks only have formal CRA responsibilities in the areas surrounding their headquarters or deposit-taking facilities. Never mind that a bank may have a single office in an out-of-the-way location. Never mind that the office may not be open to the public. And never mind that a bank may only do a small fraction of its business near the office, while making the vast majority of its loans and receiving deposits in areas hundreds of miles away.
Congratulations to the Graduates of the CBA Consumer Lending School!
Please SAVE THE DATES for the next school which will be held Monday-Friday, March 9-13, 2015 in Atlanta. To learn more about the school, please contact Jodi Swilley.
Central and South Georgia Community Bankers Attend the FDIC Consumer Protection Workshop!
Last Thursday and Friday in Macon, community bankers attended the third installment of the FDIC Consumer Protection Workshop Series. This interactive one and a half-day workshop focused on the Mortgage Rules, Fair Lending (Equal Credit Opportunity Act and Fair Housing) and Unfair or Deceptive Acts or Practices.
The CBA co-hosted the workshop with the GBA in partnership with the FDIC Atlanta Regional Office. CBA appreciates the FDIC for developing this workshop for Georgia community bankers and we would like to especially thank the following FDIC speakers for their valuable time and subject expertise: Stephanie Ovington, Field Supervisor, Atlanta South Field Territory, Tampa, Florida; Elizabeth Redding-Hogan, Supervisory Examiner, Atlanta Field Office; Anthony Banks, Senior Compliance Examiner, Albany Georgia Field Office, Candas Mourzon, Senior Compliance Examiner, Atlanta Georgia Field Office, Robin O’Connor, Compliance Examiner, Tampa, Florida Field Office; Jackie Wiedt, Financial Institution Examiner, Sunrise, Florida Field Office and Gary Clayton, Fair Lending Examination Specialist, Atlanta Georgia Regional Office.
On behalf of the Community Bankers Association of Georgia (CBA), we are proud to announce the 2015 Julian & Jan Hester Memorial Scholarship and the J. Steven Walraven Scholarship!
The Hester Scholarship is open to Georgia high school seniors who will be entering a Georgia college, university or technical school (two year program or more) in the fall semester of 2015. The scholarship is named after the late Jan Hester, daughter of Lalia and the late Julian Hester, long-time CEO of the CBA. The four winning recipients will be awarded a $1,000 scholarship.
The Walraven Scholarship is awarded in the amount of $500 to a bank employee who desires to continue their education while working full-time at a CBA member bank. The scholarship is named after the late J. Steven Walraven, an active community banker who exemplified professionalism and community involvement.
These scholarships are a tremendous opportunity for CBA to promote independently-owned community banking and for banks to put the community into community banking.
CBA Member Bank Gives Back to the Community
In the spirit of giving, Family Bank of Pelham, GA made a donation to a local food bank to help them provide to those less fortunate during the upcoming holiday season. Family Bank employees, Carrie Eubanks and Gwen Pollock gladly present Mr. Jim Lapham of the Mitchell Co. Food Bank with the check.
It's All in the Name
While a “rose by any other name would smell as sweet,” it may not be covered under your insurance policy. One of the easiest and cheapest ways to be sure you have proper coverage is to make certain the name on your insurance policy is correct. Don’t assume that the insurance company will pay a loss for an affiliated company even though the ownership may be the same.
Q3 Performance Data for Georgia Banks Now Available!
If you’re not familiar with BankTrends, this web-based analysis tool can help your bank with:
A 14-day free trial is available to all CBA Members! Contact firstname.lastname@example.org or call (877)717-6743 to start using BankTrends today!
Attend a Complimentary Informational Seminar on the New CBA Easy(k)!
CBA and Midwestern Securities Trading Company, LLC (MSTC) will hold an informational seminar to educate CBA member banks on the CBA Easy(k) Thursday immediately after the Banker Regulatory Forum.
Send Us Your News
Banker Regulatory Forum
Creative Collections (NEW ½ day seminar)
Allowance for Loan and Lease Losses (ALLL)(New)
Compliance Program IV: Topic: Anti-Money Laundering/Bank Secrecy Act
Commercial Lending School
Additional 2015 CBA Educational Opportunities will be announced soon!
We are community banking.
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Phone: (770) 541-4490 / (800) 648-8215
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