• IBANYS' Annual Convention: The Power Of Community Banking  September 25 - 27 In Niagara Falls 
  • Latest Updates From Albany & Washington: End of NYS Legislative Session . . .Credit Unions, Reg Relief, Exam Cycles
  • Economic, Banking & Business Updates Impacting Community Banks
  • Invite Your Local Representatives To Your Bank This August
  • And Much More!

Your IBANYS Team: 
Working Together To Make 2017 A Great Year 
For New York C ommun ity Banks !
In This Issue

Quick Links

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?
for our 2017 PAC contribution form. Help support IBANYS' political action efforts in New York State.


June 21, 2017

IBANYS is pleased to welcome our newest associate member: Legal Shield/ID Shield. 
Legal Shield/ID Shield provides powerful benefits, protecting families and businesses with comprehensive and affordable legal plans, identity theft plans and small business plans nationwide.
Call or e-mail Andy Perry: (845) 418-7992, andyjperry@legalshieldassociate.com.

New York community banks:
Click Here  to read a letter outlining some of the benefits Legal Shield/ID Shield can provide. 

IBANYS' annual convention will once again bring together leaders of New York's community banking industry -- the senior executives and senior managers of our member banks -- with IBANYS preferred providers, associate members and a truly outstanding array of speakers. Watch this space for details (coming soon) on program and registration, and on sponsorship opportunities.

Niagara Falls provides a truly spectacular venue for our conference.  Click here to learn more about the many activities available!   

Answers To Last Week's Convention Trivia: 
  • Who was the first person to "go over Niagara Falls" in a barrel? ANSWER: Annie Edson Taylor was an American teacher who, on her birthday, October 24, 1901, became the first person to survive a trip over Niagara Falls in a barrel.
  • Who were the stars of the 1953 major motion picture, "Niagara"? ANSWER: Marilyn Monroe and Joseph Cotton.
  . .. .  

Today is the final scheduled day of the 2017 NYS legislative session. If past is prelude, the State Senate and Assembly may work well into the late night/early morning. However,  this year's final days of session do not appear to be the same as in previous years, when late efforts often culminated in "big ugly" agreements and omnibus bills. Much of what Governor Cuomo wanted in 2017 was accomplished in the state budget. Agreements have been  reached on such issues as expanding the purchasing of American-made goods like steel and iron, while other large initiatives have eluded agreement.  IBANYS will be monitoring legislative activity in the closing hours of the session. Here are some of the issues we have been following in the closing days.
  • Credit Unions/State BDD (Muni Deposits) A Department of Financial Services bill sponsored by the two legislative Banks Committee Chairs would extend the State's Banking Development Districts Program to federal and state credit unions. The program is currently only available to banks and thrifts. Participants receive state funds and real property tax benefits for establishing brick-and- mortar branches in underserved areas. We are reminding legislators: 1) tax-paying community banks provide a disproportionately high percentage of small business and agricultural loans in New York State vis-a-vis the amount of deposits they hold; 2) the loss of municipal deposits would have a negative impact on business and balance sheets. IBANYS has successfully opposed and stopped this effort during the past several legislative sessions, and strongly oppose it again this year. CLICK HERE to read our Memo in Opposition.
  • The Legislature Has Passed A Key IBANYS Proposal The Legislature has passed and sent to the Governor for his signature one of IBANYS' top legislative agenda bills. S.3578A Hamilton)/ A.8129A (Zebrowski) would allow the State Superintendent of Financial Services to extend the DFS-required exam interval for banks with assets of under $1 billion from once every twelve months to once every 18 months. IBANYS played a major role in working with the Banking Committees and DFS to develop the proposal and to build legislative support.


President To Nominate James Clinger 
To   Lead FDIC 
President Trump will nominate  James Clinger, former Chief Counsel of the House Financial Services Committee and a deputy assistant attorney general under President G.W. Bush, to replace Martin Gruenberg as FDIC Chairman, subject to Senate confirmation. He would fill a vacant seat at the FDIC until current Chairman Martin Gruenberg's term ends in November.On the hill, Clinger helped write the 1999 Gramm-Leach Bliley Act, and more recently worked for House Financial Services Committee Chairman Hensarling, who sponsored the Financial "CHOICE" Act. His nomination nearly completes the administration's financial regulatory team. The President previously nominated Joseph Otting (a colleague of Treasury Secretary Mnuchin's at OneWest Bank) as Comptroller of the Currency, and indicated Randal Quarles (a Treasury official under Presidend G.W. Bush) will likely be named to handle regulatory duties at the Federal Reserve.

New York Community Bankers:
Contact Your Representatives On CLEAR ACT
IBANYS joins ICBA in urging community banks to contact their members of Congress to urge them to co-sponsor the CLEAR Relief Act (H.R. 2133, S. 1002) by  Rep. Blaine situation (R-MO), and alert the Senate (S. 1002), by Sens. Jerry Moran (R-KS) and Jon Tester (D-MT). We need to take action to advocate for  congressional support for this comprehensive community bank regulatory relief legislation. The CLEAR Relief Act bills include relief from, among other things, mortgage rules, the Volcker rule, the TILA-RESPA Integrated Disclosure rule and Sarbanes-Oxley requirements.  New York community bankers: Use ICBA's "Be Heard" Grassroots site (icba.org) to contact your Representatives.

Invite Your Local Congressional Representatives To Your Bank This August
With summer at hand, we're only a few weeks from the August congressional recess, when Members of Congress return to their districts to meet with constituents. IBANYS joins ICBA in urging New York community bankers to invite your local Representatives (and their staff) to visit your banks to see first hand  the challenges of today's regulatory environment. You can help them to see the urgent need to find solutions to the regulatory overreach that hinders your ability to serve your local customers and communities -- and to understand the importance of community banking to their constituents.  To help you prepare, ICBA developed a "Meeting on Main Street" guide. The guide will help with planning and logistics for conducting a bank visit or in-district meeting.  T ake a step toward meaningful community bank regulatory relief. Questions? Contact Joshua.habursky@icba.org, (202)821-4355

National Flood Insurance Program Update
Last week, the House Financial Services Committee approved two bills to reauthorize and reform the National Flood Insurance Program (NFIP). One bill (H.R. 2868, sponsored by Rep. Lee Zeldin, R-Long Island) would protect policyholders from excessive premium rates. A second bill (H.R. 2874) is a wide-range reauthorization. Today, the Committee continued marking up flood insurance legislation, including a provision (opposed by ICBA) that would remove the NFIP mandatory purchase requirement for commercial properties. 

ICBA To Senate: Don't Overlook Larger Community Banks In Reg Relief Legislation
Last week, ICBA urged Senators to ensure that community bank regulatory relief legislation addresses larger community banks' concerns--including institutions with more than $10 billion in assets. ICBA noted industry growth and consolidation has increased the average size of all banks, although larger community banks retain their local focus and direct knowledge of customers and local economic conditions. ICBA's statement highlighted a number of reg relief provisions outlined in its Plan for Prosperity platform (endorsed by IBANYS). ICBA also testified before the Senate Banks Committee on the need to enact bills to address community bank overregulation -- including passing the CLEAR Act (S.1002) and the Community Bank Access to Capital Act.

ICBA To CFPB: Exempt Community Banks 
From Small Business Loan Regs
A bipartisan group of 72 Members of Congress urged the Consumer Financial Protection Bureau (CFPB) to exempt community banks from pending regulations on small business loans. The Representatives told CFPB Director Cordray that the data-collection and -reporting requirements under Section 1071 of Dodd Frank threaten to undermine community bank lending and decrease access to credit.

  • Consumers were much less optimistic than economists had expected in June, according to a preliminary reading. The University of Michigan's Consumer Sentiment Index dropped to 94.5 in June -- well below economists' expectations for a reading of 97.1 during the month, according to Thomson Reuters consensus estimates. 
  • However, economic optimism is surging, according to the latest CNBC All-America Economic Survey. Several key components hit all-time highs. The survey found 30% of the public optimistic about the economy -- now, and for the future. It's the first time the percentage has been that high in two consecutive quarters during the survey's 10-year history. 54% think their home prices will rise in the next year; 44% believe their wages will go up in the next year, and 44% believe it's a good time to invest. 
  • The U.S. Commerce Department reported that housing starts fell 5.5% in May, to a seasonally adjusted annual rate of 1.09 million units. That follows a 2.7% monthly decline in April, and a 7.7% drop in March. Home construction is still 3.2% higher year-to-date--an increase "too modest" to address the dwindling supply of homes. Building permits tumbled 4.9%, to 1.17 million. These monthly declines come despite a solid job market with an unemployment rate of 4.3%.

Have You Contributed To NYSIBPAC?
This year brings a challenging legislative session, with new chairmen of both the State Senate and State Assembly Banks Committees. Many of our competitors within the financial services industry operate very well-funded political action committees, and we need your support to ensure community banks remain an important part of the political process and debate. We have placed an updated 2017 NYSIBPAC contribution form in the column along the left border of this newsletter.  Can we count on your support?


IBANYS identifies offers products and services  that provide value to your banks, companies, employees communities. These brief summaries provide links for information. Please contact IBANYS President John Witkowski with questions. 

Health & Wellness 
The health and wellness landscape continues to evolve. "My Wellness Resource" can be a nice addition to your existing benefit package.   C ontact Alan Justin at (716) 907-5500  or visit:  http://nbibanys.phecard.com.

We are pleased to inform HR & Benefits Representatives of IBANYS member banks about a new offer available to their banks.  Offered through IBANYS' partner at My Wellness Resource is a unique program providing a $500 rebate on any new Fiat, Chrysler, Dodge, Jeep, Ram or Hyundai vehicle. Those firms comprise approximately 19% of all car and truck sales in the US market.  The rebate is independent of, and may be combined with, any other offer available to your employees, so it's a true cash rebate that is not available through dealerships. Employees negotiate their best deal at the dealership of their choice including other rebates, cash back offers, etc., then apply for and receive this $500 rebate after their new car purchase or lease. The program may only be  offered though individual banks, not through IBANYS itself. Therefore, if it's something you think your bank and employees might be interested in, drop a line to us and we will forward it to our contact at My Wellness, Alan Justin, who will reach out to you with  the details.

We only ask that if you are not currently participating in the My Wellness Resource program, that you take a fair & objective look at the program!

Secure, Enhanced Internet Presence
The .bank program by fTLD operates trusted, verified, more secure, easily-identifiable internet locations for financial companies and their customers. V isit  www.icba.org/SRPArticles < http://www.icba.org/SRPArticles > page  

Online Lending
Excelsior Growth Fund (EGF) is NYBDC's nonprofit Community Development Financial Institution and IBANYS' exclusive online lending  partner . Visit 

Battle Against Prostate Cancer
Cure the Blue" raises funds and awareness regarding prostate cancer in New York State. Visit www.curetheblue.com to get involved!  

IBANYS Webinars  For  New York 
Community Banks:
. . .Is YOUR Bank Participating? 
New York's community banks face an array of challenges -- and, opportunities! Bank officers, board members and employees need to stay fully informed and up-to-date. . . on their responsibilities -- and, their potential liabilities. Community bankers need the proper information and tools to effectively do so, and to execute their business and strategic plan to prepare for the future.  Here's one important, convenient way to do this:  IBANYS' 2017 webinars. These presentations are designed to meet the needs of New York community banks. The programs are both effective and cost-effective. . . and participating couldn't be easier! Community bankers can do so from their own offices. The number of participants has dramatically increased over the past few years. Is your bank among those who have benefited?  If not, find out why so many of  your industry and association peers are taking advantage of these webinars. R eview upcoming programs link below:

. . .
BSG Financial Group
BSG provides revenue-enhancement and compliance solutions for financial institutions nationwide. Their solutions include:
  • Overdraft Management Solutions
  • Fee-Based Checking Accounts
  • Digital Lending Solutions
  • Vendor Management
  • Account Acquisition Strategies
  • Social Media Management
For details, contact Senior V.P.  Trevor Knott : ( 781) 254-9647, tknott@bsgfinancial.com.  Or, visit the website at: www.bsgfinancial.com

. . .Who served the longest tenure as FDIC Chairman? It was the agency's second Chairman, Leo T. Crowley, who served from 1934-45. 


 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."


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