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Have You Contributed to NYSIBPAC This Year?
If not...now is the time! We need your help in this statewide election year to support candidates and committees who understand community banks' needs. Can we count on you?
CLICK HERE for our 2015 PAC contribution form. Help support IBANYS' political action efforts in New York State.
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For more information, visit:
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New York Community Banks:
IBANYS Regional
Compliance Conference
Tuesday, December 15, 2015
Empire National Bank
Islandia, NY (On Long Island)
In the 2015 compliance environment, it appears federal and state banking regulators are "upping the ante" in terms of their expectations. This may have a direct and significant impact on board members and senior management teams of New York community banks. IBANYS' Dec. 15th Downstate Regional Compliance Conference on Long Island will provide regulatory, operational and legal perspectives on what banks can expect, and how they can respond to stay ahead of the curve. This Long Island session is the third of a series, following programs earlier this year in Western new York and the Capital District. The Program:
"Building a Compliance Culture"
Recent advisory guidance suggests financial institutions need to demonstrate they have established a strong "compliance culture" to
 effectively manage risk. In this session, we will demystify the elements of what the regulators are looking for, and provide practical advice on how you can successfully build a compliance culture at your community bank. We will share specific examples of how "high performers" think about compliance, and use it to achieve business goals.
Speaker: Pam Purdue, Executive Vice President/Regulatory Insight with Continuity
"Board and Executive Oversight --
Examiner Expectations"
There's no denying the bar has been raised for bank directors and senior management when it comes to regulatory compliance oversight. This session will help ensure that your institution is not at risk! Our  presentation will clearly outline the director and management oversight responsibilities, and discuss critical "take-aways" from recent enforcement actions. With the stakes higher than ever, your institution needs to make certain that appropriate controls are in place for Board and Senior Management to demonstrate their engagement and involvement. Speaker: Pam Purdue, Executive Vice President/Regulatory Insight with Continuity
Regulators' Perspective:
Compliance & 'Hot Button'
Examination Issues
Senior representatives from the Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) will lead our discussion and provide their insights and perspective.
- FDIC Review Examiner Janice Rosenberg and Compliance Examiner Matthew Stuart will discuss such issues as violation trends, mortgage related issues, third party vendor issues, redlining/CRA matters, federal and state coordination and examination cycles.
- OCC National Bank Examiner/ Compliance Tom Clayton of the agency's New York Metro Field Office will focus on issues related to Fair Lending and CRA, and will review the outcomes of recent OCC examinations.
IBANYS Planning 2016 Programs
March 30-31 Compliance Sessions
IBANYS held a conference call with our Compliance Committee this week to continue planning our 2016 Spring Regional Compliance Conferences, March 30 and 31 in Western New York and the Capital District. The Comittee recommended that the formats include expanded presentations by federal and state banking regulators (FDIC, OCC, Federal Reserve, NYS DFS, CFPB), topical presentations by outside consultants and a bankers peer panel discussion. All segments will focus on timely "hot button" issues and concerns. Suggested subjects include cyber security and risk management; CRA/fair lending/community development loans; flood insurance; HMDA; BSA/AML; and complaint management, including the bureau's portal system.
With 2016 on the horizon, IBANYS will hold two more conference calls over the next ten days to continue planning additional educational programs and government relations initiatives.
- On Tuesday, December 8, 9:00 AM, the CFO Peer Council will begin planning the 2016 CFO/Senior Management Conference.
- On Friday, December 11 at 9:00 AM, the Government Relations Committee will continue to discuss and preview the upcoming 2016 federal and state legislative and congressional sessions, and focus on priority issues.
Special December Webinars From
ICBA Securities & Arnold & Porter
"Portfolio Checklist For Yearend & The New Year"
ICBA Securities, the institutional broker/dealer of the ICBA, will present a webinar on December 9 at 10:00 AM exclusively for the state associations (such as IBANYS) which endorse ICBA Securities, as well as other community banks. As we approach year end, community  bank portfolio managers may have not realized that there are some practical steps that can be taken to make close-out easier, not to mention more profitable. Looming on the calendar is the Federal Reserve and its still-evolving stance on monetary policy. Add to this the interest rate environment, which appears poised for an increase, while at the same time being affected by externalities such as Eurozone and Far East growth, and disinflation. We will touch on all these topics, providing a roadmap for your year-end preparations. We will also comment on some practical steps to take as you enter the new year of 2016.
What You'll Learn:
- The performance of the bond market in 2015
- The benefits of timing your gains and losses
- Which securities perform better at year-end
- Identifying potential bond swap candidates
- Early year investment strategies
The webinar will last approximately one hour. The speaker, Jim Reber, is President and CEO of ICBA Securities. Jim has over 25 years of financial services experience, including public accounting and a large regional bank, and is a frequent speaker and lecturer at bank investment seminars and workshops.
There is no cost for Vining Sparks customers and community bank members and prospects.
Prerequisites:Those working as CEOs, CFOs, investment managers, bank directors, and anyone responsible for investment portfolio management that have the working knowledge necessary to benefit from the content of this webinar.
Instructions for Audio/Video:You will receive instructions to access the webinar after your registration is confirmed. If you do not receive a registration confirmation email, please contact your account representative.
Additional Information:Conference participants can earn up to 1 hour of CPE in Specialized Knowledge and Applications.
Advance Preparation: None
Program Level: Intermediate
Delivery Method: Group Internet-Based
To register or with questions regarding this webinar, please contact Jim Reber (jreber@icbasecurities.com) at 800-422-6442.
"Significant Fair Lending Developments
On Bank Enforcement"
On Friday Deceber 18 from 9:00 at 10:00 AM, join us for an important webinar on "Significant Fair Lending Developments of Bank Enforcement" with speakers Michael Mancusi, Helen Mayer Clark & Kevin Toomey of Arnold & Porter LLP. This timely webinar will provide 45 minutes of substantive practical guidance for banks on recent fair lending cases, followed by 15 minutes for questions and answers. It will include a discussion of two significant fair lending developments that have been resolved in the past several months that signify a change in the government's enforcement of the far lending laws.
Click here for details and to register.
Please Help IBANYS Fight Prostate Cancer
Through "Cure The Blue"
The Buffalo Bills Alumni Foundation and IBANYS have joined to lead the effort to raise funds and awareness regarding prostate cancer research in New
 York State. IBANYS' member bank Lake Shore Savings Bank is among the community banks strongly supporting the campaign: Its "Cure the Blue" ribbon pins are available for purchase for a donation at all eleven branches, and Lake Shore conducted a branch wide fundraising event earlier this fall.
As Lake Shore's President & CEO Dan
Reininga noted:
"
The exciting thing about this is that it's going to be a national campaign at some point. It's very exciting and we're very proud. It's what Lake Shore is all about - putting people first. Can YOUR bank or firm to join this effort?
It's Time To Control Health Care Costs,
While Improving Employee Benefits
Here's a way to lower your health care costs, and offer a boost in employee benefits that could help retain employees. The "My Wellness Resource Card" offers a
 low-cost, non-traditional program to save time and money, and allow your bank to provide on demand health care from U.S. board-certified doctors. They'll provide diagnosis, treatment options and necessary prescriptions via unlimited telephone medical consultations through
Telehealth. The program will also provide discounts and significant savings on a variety of medical and dental products. Sponsored by My Wellness Resource, Inc. and IBANYS, this program was designed to improve productivity, decrease absenteeism and boost morale without straining your bottom line.
Click here and
here to learn more about this exciting new alternative, or visit
www.ibanys.net for details/to enroll.
THE ECONOMY
Yellen On Rate Change, The Economy
One day before her scheduled congressional testimony, Federal Reserve Chair Yellen said the U.S. economy has come a long way but that the
Fed's decision on rates could still be swayed by data before its December 15-16 policy meeting.
Yellen said
 economic data since October have been consistent with expectations of an improved job market, and she expects continued moderate growth, but cautioned data released before the policy meeting will influence the decision. "Between today and the next FOMC meeting, we will receive additional data that bear on the economic outlook...When my colleagues and I meet, we will assess all of the available data and their implications for the economic outlook in making our policy decision." Yellen said it will be appropriate to be more cautious on raising rates from near zero, and the Fed must take into account the lagging effects of its policy. On the other hand, if the Fed delays hikes too long, then it might have to tighten abruptly. The U.S. central bank, she explained, could inadvertently create a recession by waiting too long. Yellen noted that even after the initial rate hike, the funds rate will be accommodative, and that expectations for the path of the rate will be key to economic outlook.
GOVERNMENT RELATIONS UPDATES
IN ALBANY:
Shirin Emami To Serve As Acting
Superintendent At NYS DFS
The State Department of Financial Services (DFS) is promoting Shirin Emami, Executive Deputy Superintendent of the Banking Division, to serve as Acting Superintendent on a temporary basis when the current Acting Superintendent Anthony Albanese departs next  week. Ms. Emami
takes the reins next Monday. Albanese himself succeeded Ben Lawsky,
who left last June for the private sector. Meanwhile, the Cuomo Administration continues its search for a permanent Superintendent. Among those mentioned in the press as possibilities: former prosecutors Sean Coffey (Kramer Levin), Michele Hirschman (Paul Weiss) and Hector Gonzalez, former JPMorgan Chase General Counsel Jonathan Schwartz and Bridget Healy (ING).
Silver Convicted On Corruption Charges
Former longtime Speaker of the NYS Assembly Sheldon Silver was convicted this week on federal corruption charges, and will be forced to resign his seat in the Legislature. Silver stepped down as Speaker last winter after he was indicted.
Highway Bill Compromise: No Reduction In Fed Reserve Stock Dividends For Community Banks!
U.S. House and Senate conferees reached a compromise on the federal highway bill that exempts community banks under $10 billion from cuts to Fed stock dividends and advances several regulatory relief provisions. Banks over $10 billion in assets will also receive a floating dividend rate on Fed stock based on the 10-year Treasury rate with a maximum of 6%. IBANYS and ICBA strongly
opposed using the banking sector to pay for the highway bill. Thanks to IBANYS' member banks who called and emailed Congress urging such a compromise.
The transportation agreement also:
- includes beneficial policies from ICBA's "Plan for Prosperity" regulatory relief plan, strongly supported by IBANYS, to eliminate redundant privacy notice requirements, expand the 18-month exam cycle, eliminate the word "predominantly" from the Consumer Financial Protection Bureau's definition of "rural area", expand TruPS CDO relief for small bank holding companies and allow thrift holding companies to take advantage of new Securities and Exchange Commission registration thresholds;
- restores funds cut from the crop insurance program, which would have significantly curtailed the private-sector delivery of federal crop insurance, and
- eliminates ICBA-opposed language that would have extended higher Fannie Mae and Freddie Mac guarantee fees.
New York community banks: Call Senators Schumer and Gillibrand to urge meaningful regulatory relief. Ask them to support community bank-specific relief provisions in the Financial Regulatory Improvement Act (S.1484) as they address any "must pass legislation" before yearend.
Visit
www.icba.org
and its
"Be Heard Grassroots"
site.
New York Community Banks
Find Real Value In IBANYS Webinars
In today's banking and business environment, community banks face a number of significant challenges. Bank officers, board members and employees understand that their responsibilities (and potential liabilities) continue to evolve. Is YOUR bank doing everything possible to provide them with the information and tools necessary? Are You Ensuring that they are fully informed, and equipped to manage the bank and guide it into the future?
IBANYS' webinars are designed to meet the needs of community banks, and are both effective -- and, cost-effective. Your bank's officers, directors and employees can participate directly from their offices. They
provide bottom line value. That's
why participation in IBANYS webinars has expanded dramatically over the past eighteen months!
We have scheduled five new series in addition to the popular Emerging Leaders and Director Series:
- Audit Compliance Series - New!
- Call Report Series - New!
- Cyber Series - New!
- Debt Collection Series - New!
- HRSeries - New!
- Director Series
- Quarterly Emerging Leaders Series
Please take a moment to review all of our upcoming programs
by clicking on the link below.
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IBANYS Spotlights & Thanks. . .
Our Preferred Providers & Partners
IBANYS' preferred provider partners provide significant value to New York community banks, sharing their products, services, expertise and insights to enhance banks' operations and profitability. As we approach the end of the year, it's a great time to reacquaint yourselves with these important industry partners!
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Pentegra Retirement Services
offers Qualified Plan Solutions for Financial Advisors and Plan Sponsors, Non-Qualified Plan Solutions and BOLI, Institutional Investment Management Soutions. Pentegra was founded by clients, and is owned and governed by them. For additional details,
For more information, contact Fabrizio D'uva: (609) 584-7400 or (609) 977-5891; fduva@pentegra.com,
or visit the website:
www.Pentegra.com
- Wolf & Company, P.C. began in 1911 as Edwin L. Pride & Company. Among its many services is WolfPAC Integrated Risk Management, to assist clients to view risk profiles across people, processes, and technologies-- decreasing exposure to risk, and saving time and money. The secure, hosted enterprise risk management solution automates identification of risks, threats, and control gaps, and provides tools to review and monitor information technology, privacy, vendor, regulatory compliance and other enterprise-wide risk assessments and programs. Quarterly methodology updates align with changing business environments and emerging compliance and examination standards. For details, contact Gerald Gagne: (617) 428-5455, ggagne@wolfandco.com, or visit the website at www.wolfandco.com.
- T. Gschwender & Associates, Inc. is a diversified consulting company that has been providing services to financial institutions and businesses in the Northeast United States since 1984. Their financial institutional clients include small community banks and credit unions with less than $100 million in assets to much larger regional institutions with over $5 billion in assets. For financial institutional clients, they serve as a highly sophisticated "Credit Department," able to handle all functions from initial borrower due diligence to collateral liquidation, and everything in between. For more information, contact Bharpur "Bo" Singh: (315) 701-1293; bsingh@tgschwender-assoc.com, or visit the website: www.tgschwender-assoc.com
- Continuity is a Compliance Managment System for community banks and credit unions. Engineered to reduce the time, cost and risk impacts of rugulation, this unified system automates the entire regulatory lifecycle - - managing regulatory updates, policies, procedures, risks, vendors, audits, business continuity, exam preparation, compliance strategy and planning. Contact Marnie Keller: (202) 329-3170 mkeller@continuity.net, or visit the website: www.continuity.net.
- Promontory Interfinancial Network, LLC helps financial institutions of all sizes thrive. Promontory Network members use its solutions ̶ Bank Assetpoint®, Insured Cash Sweep®, or ICS®, CDARS®, IND®, and Yankee Sweep® ̶ to source new asset opportunities, diversify their asset portfolios, reduce collateral requirements, purchase funding, and build multi-million-dollar relationships. For more information, contact Kevin Hamilton at 866-776-6426, Ext3329, khamilton@promnetwork.com. Or visit www.promnetwork.com.
- Travelers is an insurance leader, committed to keeping pace with the ever-changing needs of customers, and anticipating their needs for the future. Travelers Bond & Specialty Insurance Claim is comprised of dedicated claim professionals equipped with the expertise needed to handle management liability and surety claims. Their dedicated professionals are located in over 35 locations across the country so you will always receive superior claim service. When you select coverage from Travelers, you can trust you're dealing with insurance experts who recognize the unique needs of financial institutions - an industry they've served since 1890. For more than a century, Travelers has supported community banks by offering an extensive selection of customized insurance solutions. Our product line responds to the most recent trends in community banking. For details: Call (866)336-2077, visit www.travelers.com.
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| New York community banks play a key role in our state and local economies. Help spread the good news among your customers, business and elected leaders and media! |
| Click here for quotes from Governor Cuomo and DFS Superintendent Lawsky extolling the performance and value of New York community banks. |
| Click here for the full NYS Study on community banking. |
| Click here to read IBANYS President & CEO John Witkowski's comments on the new tax changes and benefits for New York community banks as approved in the 2014-15 State Budget. Click here for IBANYS' letter to the Editor of Consumer Reports Magazine correcting failure to mention community banks as an alternative to using "big banks." _________________________________ |
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John J. Witkowski
President and Chief Executive Officer
Stephen W. Rice
Director of Government Relations and Communications
Linda Gregware
Director of Administration and Membership Services
William Y. Crowell, III
Legislative Counsel
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