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Alyssa, don't miss these important MBA updates...
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PROFESSIONAL DEVELOPMENT
Learning Takes You Places
Register for the Bankers Education Summit and Trade Show (BEST) March 20-22 in Traverse City There are close to 40 sessions, dynamic keynotes, networking opportunities and discover new products and services for your bank. Make plans today! We'll see you in March.
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mbaBanking
The January/February Edition of mbaBanking is Now Online!
Immerse yourself in compelling articles spotlighting fraud and other crucial topics in the latest edition of mbaBanking.
With so much valuable information waiting to be discovered within the pages of mbaBanking, there's no better time to start exploring!
Read the issue.
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BLACK HISTORY MONTH
Learn About Black History Month
Today marks the first day of Black History Month and we are proud to celebrate! Every February, the U.S. honors the contributions and sacrifices of African Americans who have helped shape the nation. Black History Month celebrates the rich cultural heritage, triumphs and adversities that are an indelible part of our country's history. learn more about Black History Month and why the month of February was chosen here.
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ADVOCACY EVENTS
Join us at the MBA/ABA Washington Summit!
Gear up for an immersive experience at the MBA/ABA Washington Summit March 18-22 in Washington D.C., where you won't just attend – you'll dive headfirst into the dynamic realm of policymaking on Capitol Hill, engage with regulatory powerhouses, and even catch the pulse of decision-makers. Don't just follow the action; be the force that drives it. Join us for an electrifying journey at the heart of political influence and strategic insights!
Scholarships Available for Emerging Leaders
Two $750 scholarships to Emerging Leaders in Michigan to attend the 2024 Emerging Leaders Forum on March 18 in Washington D.C. are available. The $750 can be used for travel and/or lodging expenses and is reimbursed by the ABA after the conference. Please submit the name, bank, title, and email of your emerging leader at your bank to Alyssa Bouchard at abouchard@michigan.bank. Previous scholarship recipients are not eligible.
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LANSING
Senate Committee Poised to Pass MBA-Supported Bills
The Senate Civil Rights, Judiciary, and Public Safety Committee plans to approve a package of bi-partisan bills today that would simplify the Probate and Estate process in Michigan. Your MBA Advocacy team has been supportive of HB 4416-4419 since their inception in the Michigan House. We look forward a bi-partisan vote in the Michigan Senate.
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CANNABIS
Letter to DEA on Rescheduling Marijuana
On January 29, 2024 a group of 12 Senate Democrats including Majority Leader Chuck Schumer, sent a letter to the Drug Enforcement Agency (DEA) urging the agency to “swiftly deschedule marijuana from the Controlled Substance Act (CSA).”
The Letter goes further than the Department of Health and Human Services' initial recommendation, requesting that marijuana should be removed from the CSA altogether.
“The Department of Health and Human Services (HHS) has recommended rescheduling marijuana from the CSA’s strictest schedule, Schedule I, to Schedule III. Earlier this month, in response to a Freedom of Information Act request, HHS for the first time disclosed its rationale for this recommendation, which made clear that cannabis does not meet the medical or scientific requirements for Schedule I. While rescheduling to Schedule III would mark a significant step forward, it would not resolve the worst harms of the current system. Thus, the DEA should deschedule marijuana altogether. Marijuana’s placement in the CSA has had a devastating impact on our communities and is increasingly out of step with state law and public opinion.”
The request comes five months after the Department of Health and Human Services (HHS) sent a letter to the DEA recommending that cannabis be reclassified as a Schedule III drug under the CSA.
The letter was also signed by Sens. Elizabeth Warren (MA); Cory Booker (NJ); John Fetterman (PA); Jeff Merkley (OR); Bernie Sanders (VT); Kirsten Gillibrand (NY); Ron Wyden (OR); John Hickenlooper (CO); Peter Welch (VT); Chris Van Hollen (MD); and Alex Padilla (CA).
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LANSING
Special Primary Election to Fill Vacated Seats in Westland and Warren
Westland City Councilman Peter Herzberg and Macomb County Commissioner Mai Xiong will advance in a race to fill two vacant seats in the Michigan House, where the Democrats are expected to prevail in the April general elections in the Democratic-leaning House districts.
Herzberg won a special primary election Tuesday night for the 25th House District, beating out four other Democratic candidates that included one endorsed by Gov. Gretchen Whitmer, according to unofficial Wayne County results.
Xiong, who had Whitmer's endorsement in the 13th House District, won her primary with nearly 79% of the vote Tuesday.
The two Democrats will compete in an April 16 general election with Republican opponents Josh Powell in the 25th House District and Ronald Singer in the 13th House District to fill seats left vacant by former state Reps. Kevin Coleman and Lori Stone when they were elected mayors in November for Westland and Warren.
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REGULATORS
OCC Proposes Revised Process for Approving Bank Mergers
The OCC proposed a new rule to end the time limit for automatic approvals of mergers of the banks that it supervises. At the same time, the agency released a policy statement on how it would analyze future merger and acquisition applications, with a focus on separating mergers that can be quickly approved from those that require more scrutiny. The OCC said it views the statement as summarizing existing policy rather than setting new standards.
Read the proposed rule and policy statement.
Read an OCC overview of the proposed rule and statement.
Read Hsu’s remarks.
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REGULATORS
Proposed Revisions to the Consolidated Reports of Condition and Income (Call Report) Related to the Agencies’ Regulatory Capital Proposal
As described more in the Federal Register notice, the proposed revisions to the Call Report forms and instructions would:
- Revise the FFIEC 041 and FFIEC 051, Schedule RC–R, Part I, to remove items that are no longer relevant and make other technical edits;
- Revise the FFIEC 031 instructions to require all banks subject to the expanded risk–based approach under the proposed capital rule to file the FFIEC 031; and
- Revise the FFIEC 031, Schedule RC–R, Part I, Regulatory Capital Components and Ratios, to align the calculation of regulatory capital for institutions subject to Category III or Category IV standards with the calculation used for institutions subject to Category I and Category II standards
Read the FIL.
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COMMUNITY REINVESTMENT ACT
Banking Regulators Publish Final CRA Rule
Banking regulators today will officially publish the more-than-2,000-page final rule to modernize how they assess compliance with the Community Reinvestment Act. The Federal Reserve, FDIC and OCC publicly released the final rule late last year.
Read the rule.
Watch an interagency video on the rule.
Watch an ABA webinar on what banks need to know about the rule.
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RESOURCES
Webinar: What Bankers Need to Know on Mergers and Acquisitions Regulation
ABA and the law firm Squire Patton Boggs will hold a free webinar on Wednesday, Feb. 21, at 1:30 EST on what federal guidelines and policies governing bank mergers and acquisitions are under review and are likely to change. Participants will also learn about a new members-only resource, the ABA Bank Mergers and Acquisitions Self-Assessment Guide, which includes a detailed checklist of regulatory requirements for bank acquisitions. Learn more and register.
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REDISTRICTING
Redistricting Advances 14 Maps for Voting Rights Act Compliance Check
Members of the Michigan Independent Citizens Redistricting Commission this past week advanced 14 draft maps drawn over the last several weeks seeking to remedy seven Detroit-area House districts struck down by the federal court late last year.
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REGULATORS
OCC Proposes Revised Process for Approving Bank Mergers
The OCC proposed a new rule to end the time limit for automatic approvals of mergers of the banks that it supervises. At the same time, the agency released a policy statement on how it would analyze future merger and acquisition applications, with a focus on separating mergers that can be quickly approved from those that require more scrutiny. The OCC said it views the statement as summarizing existing policy rather than setting new standards.
Read the proposed rule and policy statement.
Read an OCC overview of the proposed rule and statement.
Read Hsu’s remarks.
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RESOURCES
Webinar: What Bankers Need to Know on Mergers and Acquisitions Regulation
ABA and the law firm Squire Patton Boggs will hold a free webinar on Wednesday, Feb. 21, at 1:30 EST on what federal guidelines and policies governing bank mergers and acquisitions are under review and are likely to change. Participants will also learn about a new members-only resource, the ABA Bank Mergers and Acquisitions Self-Assessment Guide, which includes a detailed checklist of regulatory requirements for bank acquisitions. Learn more and register.
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PROFESSIONAL DEVELOPMENT
Leadership Series - Live & Interactive, In-Person & Virtual
You earned your leadership position...this leadership experience will help you make the most of it! Unlock your full potential as a leader by leveraging the power of influence by attending the Leadership Series with Steve Lowisz, CEO and Founder of Qualigence International. The series dates are February 1 - May 16.
To learn more, access the brochure here.
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MBA Perry Schools of Banking May 5-10
The MBA Perry Schools of Banking has a long history of helping its students gain a broader knowledge and understanding of major banking functions such as credits, investments, asset and liability management, planning and control, regulatory issues, human resources and marketing. The school is governed by a board of trustees. Students are in residence one week each year for the three years. Students spend a minimum of 40 hours in the classroom and work on projects throughout the year. They also take comprehensive final exams, along with competing in the Bank Simulations! More Information. Access the MBA Perry Schools of Banking Scholarship Application.
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MBA SERVICE CORPORATION
Are you trying to replace an internal analyst?
Maybe you need someone to complete tasks, oversee and sign-off on tasks, or even complete monthly tasks to keep your program on track.
That’s a perfect fit for Bankers Alliance! We have teams that will help you cover key losses in staff regardless of whether you need a stop-gap program or ongoing operational continuity. There aren’t a lot of compliance programs that can do this.
Find out how your institution can build back better when you talk with Jill Verscheure, SVP, MBA Service Corporation at jverscheure@michigan.bank.
Compliance Alliance for Trust
Trust Tools for Compliance is a stand-alone program designed specifically to assist and support wealth management divisions and brick-and-mortar money managers with their regulatory compliance needs.
To learn more, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team. For questions, contact Jill Verscheure, SVP, MBA Service Corporation at jverscheure@michigan.bank.
Sign Up for a live CA Trust Demo
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MBA SERVICE CORPORATION
Cinnaire's Mission for 30 Years
For over 30 years, Cinnaire has invested in people and places, transforming lives. Through our financial investments and development services.
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MBA SERVICE CORPORATION
Managing Delinquency
Delinquency is still on the rise. Are you prepared to collect?
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MBA SERVICE CORPORATION
Upcoming Events from Michigan Planners
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SEMINAR: Mastering Non-Competes: Legal Insights and Best Practices for Business Success
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Date & Time: February 15th, 9 AM to 10 AM
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Registration Link: Register Now!
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WEBINAR: Total Rewards in the Midst of High Inflation
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Date & Time: February 23rd, 11 AM to 12 PM
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Registration Link: Register Now!
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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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Excitement is building as we anticipate insights from our Keynote Speaker, Robin Shear, Joy Coach, Author, Founder of Joy to the World Coaching! 🌟 Ready to transform your corporate culture, decrease turnover, and boost employee engagement? Robin's strategies are a game-changer. Join us for a dynamic and interactive keynote session that promises to inspire positive change from top to bottom! 🚀
Discover more about Robin Shear and secure your spot at #MBABEST Conference: https://lnkd.in/edgNnkW.
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Today is Michigan’s 187th birthday! On Jan. 26, 1837, Michigan became the 26th state in the Union. Learn about Michigan's history here: https://lnkd.in/gF4--Gj
#HappyBirthdayMichigan
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Today marks the first day of #BlackHistoryMonth and we are proud to celebrate! Every February, the U.S. honors the contributions and sacrifices of African Americans who have helped shape the nation. Black History Month celebrates the rich cultural heritage, triumphs and adversities that are an indelible part of our country's history. Check out the story behind Black History Month and why February was chosen: https://www.history.com/topics/black-history/black-history-month | |
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