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Alyssa, don't miss these important MBA updates...
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Learning Takes You Places
Registration is open for the Bankers Education Summit and Trade Show (BEST) March 20-22 in Traverse City! Join us for almost 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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COMMUNITY
39th Annual MLK Jr. Day of Celebration
Members of the MBA team attended the 39th annual MLK Day Celebration Luncheon at the Lansing Center on Monday to listen to the inspiring words of civil rights icon Ruby Bridges. Ms. Bridges, known for being the first black child to integrate Louisiana Schools at the age of 6, was featured speaker.
This celebration is among the largest for Martin Luther King, Jr. Day nationwide, and tickets for the event sold out months in advance, drawing over 1,500 attendees.
The theme for this year's event centered around compassion, embodying the spirit of the legendary civil rights leader Martin Luther King, Jr.
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Civil rights activist Ruby Bridges, left, and state Senator Sarah Anthony, D-Lansing. | |
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FRAUD
Establishment of Fraud Group
Recognizing that fraud is a top concern with our membership, At the direction of our chairman Roxanne Daust we are exploring the establishment of a discussion group focused on fraud; what you are seeing in your shops, how you are responding, resources, and more. If you are interested in joining this group, please reach out to Mo Parisian at [email protected].
As a reminder, some of our fraud resources include:
- Articles
- Key Events
- Products and Services
- The #BanksNeverAskThat Campaign
- And more!
Resources can be found here.
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DIVERSITY, EQUITY & INCLUSION
MBA DEI Quarterly Newsletter is In Your Inbox
The MBA is committed to promoting Diversity, Equity, and Inclusion (DEI) in the banking industry. To keep stakeholders informed and engaged, MBA publishes the MBA DEI Newsletter quarterly. This brief article highlights why this newsletter is important and what you can find in the latest issue.
The MBA DEI Newsletter is your go-to source for DEI insights and updates in the mortgage banking industry. Stay connected and make a positive impact on DEI efforts. Not receiving the newsletter? Contact Alyssa Bouchard here
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ADVOCACY EVENTS
Join us at the MBA/ABA Washington Summit!
Registration is open for the much-anticipated 2024 MBA/ABA Washington Summit, sponsored by the Federal Home Loan Bank of Indianapolis. Set against the vibrant backdrop of Washington D.C., from March 18-20, this summit is your golden ticket to not just witness but actively shape the political landscape in this crucial election year.
Gear up for an immersive experience at the MBA/ABA Washington Summit, where you won't just attend – you'll dive headfirst into the dynamic realm of policy making 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 [email protected]. Previous scholarship recipients are not eligible.
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MBA AWARDS
2024 MBA Banker of the Year
Nominations are Due By: Friday, February 23
The Michigan Bankers Association recognizes annually a member banker for outstanding leadership to the MBA, the industry and our communities. The Banker of the Year award recognizes the best of our profession to the public, media and elected officials. Learn more.
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REGULATORS
CFPB Proposes to Apply Reg Z to Overdraft Protection at Large, Midsize Banks
The CFPB proposed to apply the requirements of Regulations Z to overdraft fees at banks and credit unions with more than $10 billion in assets. The proposal would also require banks to calculate and disclose an annual percentage rate on each overdraft fee.
The CFPB noted that overdraft fees have, since the passage of the Truth in Lending Act in the 1960s, been excepted from Reg Z’s definition of finance charges. Under this proposal, Regulation Z would apply to overdraft protection services provided by banks and credit unions with assets over $10 billion, unless the overdraft services are “provided at or below costs and losses as a true courtesy to consumers.” The proposal envisions two ways of determining cost: allowing covered institutions to calculate their own costs and losses using the bureau’s proposed standards, or by relying on a benchmark fee set by the bureau. (The CFPB asked for comment on $3, $6, $7 or $14 as proposed benchmarks.)
The bureau also proposed to amend Regulation E to prohibit compulsory use of preauthorized electronic fund transfers for repayment of transactions paid into overdraft by institutions covered by the proposal that charge overdraft fees above a certain threshold.
While the proposal does not cover financial institutions with assets of $10 billion or less, the bureau warned that it “plans to monitor the market’s response to this rule before determining whether to alter the regulatory framework for financial institutions with assets less than or equal to $10 billion.”
The MBA will aggregate concerns from member banks on this issue. Comments on the proposed rule are due April 1. Read the rule.
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REGULATORS
Letter to Regulators on Basel III Implementation
The MBA along with other state bank trade associations, signed onto a letter to the regulatory agencies sharing our concerns for the Basel III Capital Proposal. Among the concerns, in addition to bank operational risk are restriction of funds for residential mortgages, capital projects and credit for small and mid-sized business. Please find the letter here.
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LANSING
Gov. Whitmer to Deliver 2024 State of the State Address on January 24
Governor Gretchen Whitmer will deliver her sixth State of the State Address on Wednesday, January 24 at 7:00PM. The address will be held in the Michigan House Chambers in front of a joint session of the Michigan House of Representatives and the Michigan Senate and broadcast live throughout the state.
How to watch the 2024 State of the State Address:
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LANSING
MBA attends First House Financial Services Committee of the Year
With the new legislative year now underway, your MBA Advocacy team is back at it with boots on the ground in Lansing. The first committee hearing of the House Financial Services Committee saw the seating of two new members; Rep. Penelope Tsernoglue (D-Clinton Twp.) and Rep. Jason Hoskins (D- Oakland).
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CONFERENCES
Hsu to Speak at Conference for Community Bankers
Acting Comptroller of the Currency Michael Hsu will speak at the 2024 Conference for Community Bankers, Feb. 11-13 in San Antonio, Texas. Hsu has led the OCC since May 2021 and also serves on the FDIC board and the Financial Stability Oversight Council. He will join ABA President and CEO Rob Nichols to discuss current banking policy issues and the OCC’s 2024 top priorities. Register. Michigan bankers attending will enjoy dinner together on Monday, February 12.
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REGULATORS
The Chicago Region's Division of Depositor and Consumer Protection Newsletter
In this issue, the FDIC provides an overview of 2023 regulatory developments, as well as discuss homeownership preservation strategies, the issuance of the Community Reinvestment Act modernization rule, and the introduction of several new FDIC technical assistance videos and a new Banker Engagement Site. The newsletter also highlights a few upcoming Community Affairs events. We hope you continue to find these newsletters to be a valuable resource for your institution. Read the newsletter.
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PROFESSIONAL DEVELOPMENT
MBA Women Shaping Tomorrow Award
The MBA Women Shaping Tomorrow Award is presented at the annual MBA Women in Banking Day. Celebrating a woman aged 40 or younger who is making a significant impact in our industry and community (i.e. participating in financial literacy), making her “one to watch.” Candidates are interwoven and involved in their communities and should achieve success independently but thrive on sharing their vision with others and contributing to team success. The candidate is continually forward-thinking, welcomes change and opportunities to tackle new projects.
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Leadership Series - Live & Interactive, In-Person & Virtual
You earned your leadership position...this Leadership Experience will help you make the most of it! Drawing on Steve’s 25 years of experience as a CEO and entrepreneur, this action-oriented program offers practical takeaways so you can maximize your impact and results as a leader.
The Leadership Experience
- Unlock your full potential as a leader by leveraging the power of influence
- Learn how to inspire your team to follow you because they want to...not because they have to
- Learn how to build lasting trust, lower turnover, and drive team performance
Series Dates: February 1 - May 16.
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Eliminate confusion about recent regulatory changes…help avoid regulatory criticism… and fulfill federal BSA training requirements by attending…
2024 ANTI-MONEY LAUNDERING/ BANK SECRECY ACT (AML/CFT/BSA)
Two-Day Compliance School | May 14-15
Lansing
“BOI can provide essential information to law enforcement, intelligence, and national security professionals as they work to protect the United States from bad actors who exploit anonymous shell companies to engage in money laundering, corruption, sanctions and tax evasion, drug trafficking, fraud, and a host of other criminal offenses with impunity, while legitimate businesses suffer from their misdeeds.” Andrea Gacki, Director, Financial Crimes Enforcement Network (FinCEN), United States Department of Treasury, December 21, 2023
A two-day program designed to encompass the broad range of topics included in the realm of the AML/CFT/BSA compliance.
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WE Build Program Launches in Detroit to Foster Growth
for Local Women Developers
Historically, women have faced barriers to success in the commercial real estate development industry. Cinnaire, in collaboration with the Women’s Sustainable Development Initiative (WSDI), is addressing those barriers with the launch of the Women Empowered to Build (WE Build) Program in Detroit. This pioneering initiative is a year long free training and mentoring program kicking off this week aimed at fostering diversity and inclusivity in the field of real estate development in Michigan. Cinnaire and WSDI joined forces to accelerate the fundability, stability and growth of women-led businesses and women-led nonprofits in real estate development. Read more.
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MBA SERVICE CORPORATION
Don't Forget About Your Assets
Lending is a risky business. Of course, that’s why you do your best to evaluate applicants to reduce the risks you take on as an institution. Asset quality is one of the most critical factors in determining a bank’s health. The quality of your loan portfolio has a substantial effect on asset quality as loans are ordinarily the largest bank-held asset and carry the greatest amount of potential risk to capital. Learn more.
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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
SBS Cybersecurity Offers Free Resources
A security program is only as strong as its weakest link. SBS strongly believes in the power of education and security awareness training when it comes to a strong Information Security Program.
Share these cybersecurity training tools with your employees and customers to keep security top of mind. Access the resources.
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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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Happy New Year from all of us at the MBA! We wish you a great year ahead! | |
Exciting news! 🌟 Explore fresh job opportunities daily with MBA Service Corporations' Endorsed Partner, BankTalentHQ. Check out the latest Michigan bank jobs at banktalenthq.com. Your next career move could be just a click away! 💼 #JobOpportunity #CareerGrowth #BankingJobs" | |
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When needed, appropriate treatment can help you feel better and get back to doing the things that matter to you. #FrameOfMindFriday
Learn more: https://conta.cc/3ZqyrTs
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