Do you have customers who have perhaps not qualified for traditional small business loans, and are feeling overwhelmed by the idea of obtaining financing to start up a  business? Do they need funding to grow their business? Finding the right lender for business needs can be daunting. You can help set these customers on the right course, by informing them of  this webinar hosted by The Excelsior Growth Fund and supported by New York Small Business Development Center. It will take place September 28 at 1:00 PM EST and will examine "Top Strategies for Securing a Small Business Loan." Participants will learn what they need to know about finding and qualifying for small business loans -- even if they've been turned down before. The webinar will discuss:   

Buffalo News Profiles & Interviews IBANYS' President John Witkowski

 

The "Buffalo News" published a profile & interview with IBANYS President & CEO John Witkowski. It highlighted his career as a community bank executive, banking trade association president -- and, his earlier days as a top-notch Ivy League quarterback at Columbia University who later played professionally in the NFL. In the interview, John noted: " Community banks are doing very well. I think they're doing well because they know their communities, they know their comfort zone. Is it becoming more difficult? Yes, it is, because of all the other ancillary things that are going on. The competition with credit unions. The regulatory compliance [rules] that keep coming down that keep costing money. It's taking away from them going out to expand the business. . . I try to think of ways that community banks can continue to work today in ways that will help them be more efficient and bring value to  looking at partnerships..." 

Click here to read the full interview

www.curetheblue.com.  

DFS Issues Guidance On 

Equifax Data Breach

The New York State Department of Financial Services (DFS) issued a Guidance regarding the Equifax data breach.  DFS urged its regulated institutions to:

• Ensure that all information technology and information security patches have been installed;
• Ensure that appropriate ID theft and fraud prevention programs are in place and followed ;
• Confirm the validity of information contained in Equifax credit reports (if you receive them)  before relying on them ;
• If appropriate, consider a customer call center for customers to call in and inform your institution  if their information has been hacked; 
• If your institution provides consumer or commercial related account and debt information to  Equifax pursuant to any arrangement with Equifax, ensure that the terms of the arrangement  receive a very high level of review and attention to determine any potential risk,  taking into consideration the  Department's cybersecurity regulation (23 NYCRR Part 500) with respect to third party service  providers.

Weinstein New Chair Of Assembly 

Ways & Means Committee

Assemblywoman Helene Weinstein ( D-Brooklyn) has been named Chair of the powerful NYS Assembly Ways & Means Committee, which deals with budgetary and tax legislation. She becomes the first woman to chair the committee and succeeds the committee's longtime Chair Denny Farrell, who has retired from the Legislature. Assemblywoman Weinstein has been a member of Ways & Means since 1993, and has been chairing the Assembly Judiciary Committee. She was first elected to the Assdembly in 1980, succeeding her father Murray Weinstein, who in the same seat served for two years.

 

WASHINGTON, D.C. UPDATE

Also: ICBA released a statement urging bipartisan support for allowing Fannie Mae and Freddie Mac to rebuild capital.  Click here to read the full statement.