|
Alyssa, don't miss these important MBA updates...
| |
138th MBA ANNUAL CONVENTION | |
|
Congratulations to the new MBA Board of Directors elected Wednesday during the Membership Meeting at the 138th MBA Annual Convention. The 2024-2025 Michigan Bankers Association executive committee includes Ray Biggs, Chairman, President & CEO, West Shore Bank; Eric Beckhusen, Chair-Elect, Chairman and CEO, Century Bank and Trust; Matthew Keene, Treasurer, Citizens National Bank of Cheboygan; Roxanne Daust, Immediate Past Chairman, President and CEO, Range Bank; and Rann Paynter, President and CEO, Michigan Bankers Association. Read the press release.
We welcome new MBA Board of Directors Raymond Reitsma, President and CEO, Mercantile Bank, and Donnell R. White, Senior Vice President, Chief Diversity, Equity and Inclusion Officer, Huntington Bank, and congratulate Edwin Eichler, Chairman & CEO, Bay Port State Bank for being elected for a second term.
Congratulations to the bankers elected to serve!
Thank you to the 400+ attendees at the Annual Convention! Your presence on the island this week made the event a great success! Your enthusiasm and positive spirit helped make our time together both productive and fun.
View all presentations here.
| |
|
138th MBA ANNUAL CONVENTION
Governor Gretchen Whitmer Addresses Convention Attendees
Governor Gretchen Whitmer addressed bankers via video during our 138th Annual Convention attendees earlier this week, expressing her gratitude for their focus on serving Michiganders' banking needs and encouraging them to "keep getting it done!" Watch the video.
| |
|
|
138th MBA ANNUAL CONVENTION
Minneapolis Fed President Neel Kashkari Fireside Chat
Minneapolis Fed President Neel Kashkari participated in a Q&A and moderated a discussion at the Convention. The conversation was moderated by MBA Chairman and Range Bank’s President and CEO Roxanne Daust, who also serves on the Minneapolis Fed’s Community Depository Institutions Advisory Council (CDIAC). Watch the chat.
| |
|
138th MBA ANNUAL CONVENTION
MBA Banker of the Year a Convention Tradition
For 45 years, the MBA Banker of the Year award has been a highlight of the MBA Annual Convention. This week on Mackinac Island, we congratulated Kenneth Kelly, Chairman and CEO of First Independence Bank, for being named the MBA Banker of the Year.
Kenneth joins a group of amazing leaders recognized for their service to the industry. View the listing of MBA Banker of the Year recipients.
| |
138th MBA ANNUAL CONVENTION | |
|
ANNUAL REPORT
The MBA Annual Report is now available. Click here to review the report.
| |
|
|
PROFESSIONAL DEVELOPMENT
2024 George Harding Scholarship - Apply by July 15!
Attention College Juniors and Seniors in Finance or Banking!
Don't miss out on the prestigious George Harding Scholarship. This is a remarkable opportunity to secure financial support for your education. Learn more and apply at bit.ly/GeorgeHardingScholarship. Secure your future today!
| |
|
PROFESSIONAL DEVELOPMENT
See You on a Course Near You!
Gather a foursome, sponsor a hole and have a fun day on the course supporting the Harding Scholarship Foundation.
- Thumb Region: July 11, Ubly
- Harding Scholarship Fund Outing: July 25, Bath
- U.P. Region: August 13, Marquette
- SW/SE Region: August 22, Ann Abor
| |
|
VETERANS
Participate in the Veterans Benefits Banking Program
The Veterans Benefits Banking Program (VBBP) is a partnership between the Department of Veterans Affairs (VA) and the Association of Military Banks of America (AMBA). VBBP facilitates Veterans' receipt of their VA benefits payments via direct deposit. This program is seeking the participation of banks in Michigan to join the VBBP. The goal of VBBP is to help veterans, beneficiaries, and caregivers join the banking system, enabling them to easily access their benefits and avail themselves of free financial and credit counseling services.
The MBA encourages all banks to join the VBBP and help demonstrate the banking industry’s continued commitment to our nation’s veterans. Participation in the program is open to all banks and there are no costs associated with participation. Learn more. Interested in Participating? Complete the interest form.
| |
|
COMMUNITY REINVESTMENT ACT
CFPB’s Chopra: Credit Unions Should be Subject to CRA Scrutiny
As we continue to fine tune our messaging around on-going industry concerns with credit union activity in the marketplace it was encouraging to see a key regulator beginning to acknowledge some of those concerns. Check out the link below to see Rohit Chopra, Director of the CFPB, encourage the Senate Banking Committee to consider bringing Credit Union’s in line with the Community Reinvestment Act. Read more.
| |
|
REGULATORS
Biden Nominates FDIC Chair
President Biden late last week nominated Christy Goldsmith Romero to be chairwoman of the FDIC. If confirmed by the Senate, Romero will succeed current FDIC Chairman Martin Gruenberg, who recently announced his decision to resign.
Biden also announced three other nominations. CFTC Commissioner Kristin Johnson was nominated as assistant secretary for financial institutions at the Treasury Department. SEC Commissioner Caroline Crenshaw was nominated to a new term on the commission. Hawaii Insurance Commissioner Gordon Ito was nominated to be a member of the Financial Stability Oversight Council. Read more.
| |
REGULATORS
FDIC Consumer Compliance Examination Manual
The FDIC’s Consumer Compliance Examination Manual (CEM) has been updated for June 2024.
- Violation Codes (II-14.1): This chapter was updated to include violation code, FCRA 605A(h)(2)(B).
- Truth in Lending Act (V-1.1): The annual thresholds were updated in this chapter.
- Community Reinvestment Act (XI-1.1): The annual thresholds were updated in this chapter.
View the manual.
| |
|
DEPOSITS
Growth in certificates of deposit slows at US banks in Q1 2024
CertifHigher-for-longer rates are keeping the deposit competition heated as certificate of deposit balances continue to increase, although the pace of the rise slowed during the first quarter.
As of March 31, US banks had an aggregate of $2.939 trillion in certificates of deposit (CDs), up 2.4% or $69.06 billion from the previous quarter. The first quarter marked the slowest quarter-over-quarter increase since the balances started to go up in the first quarter of 2022.icate of deposit balances continue to grow at US banks, albeit at a slower pace. Read more.
| |
The Fraud Academy is a “first of its kind” two-day school that will train employees at all levels of your institution on fraud risk and what they can do fight it. This program will feature speakers from the United States Secret Service, attorneys from the United States for the Eastern District of Kentucky, Lexington Police Department, and other current and former law enforcement experts that will share their experiences and insights to best educate your bankers on how to mitigate fraud risk and ultimately reduce your fraud loss. Your team can join us in Louisville or virtually. | |
|
Join us on July 17 at the Women Lead Symposium, a convenient virtual program designed to help women and allies become inclusive, successful leaders. You’ll gain critical leadership skills that will advance your career and support
women aspiring to lead in the industry. You’ll also learn leading practices and actionable insights to engender a diverse working environment that improves your bank’s bottom line.
Become an agent of change in your network and beyond — walk away with resources and a strong professional network that support women in banking.
| |
|
This full-day program is one of the country’s most comprehensive seminars on opening deposit accounts. The
session answers many of the complicated questions customers and employees ask. The 200+ page detailed
manual, included in the registration and customized to your state law, has become an invaluable resource for
banks across the state. These workshops are highly interactive. Come prepared to get your questions answered!
You are encouraged to bring a copy of your bank’s signature card, account agreements, terms and conditions
and resolutions.
| |
|
We’ve collaborated with DIFS to develop content for a new Michigan Agriculture Lending School to be held August 26-29 at the MBA office led by instructor Freddie Barnard, a pioneer in the development of the Farm Financial Standards who has taught extensively at various banking schools throughout the country. The event will kick off Monday afternoon with an optional emerging issues segment featuring an Ag Lenders Panel Discussion and an update on the Michigan Ag Industry provided by leaders from the Michigan Department of Agriculture and Rural Development (MDARD). The final three days will focus on Agribusiness analysis and simulation led by Professor Barnard. A lineup of additional content/speakers mixed throughout the week including:
- FSA Guarantees – David P. Russ, USDA/FSA
- Washington Update – Edwin Elfmann, ABA
- Cattle/Protein & Commodities Market Update – Randy Blach, CattleFax
| |
MBA SERVICE CORPORATION ENDORSED PARTNER
Complimentary webinar Hosted by Ohio Bankers League and MBA Service Corporation Endorsed Business Partners to Provide the Solutions You Need
WEDNESDAY, June 26th | 11:00 AM
Join industry experts from Nationwide Property & Appraisal Services, a premier national AMC, and AppraisalWorks™, the appraisal management technology platform behind Valuation Analytics, as we explore alternative valuation solutions and the use of technology to leverage these new options.
In this webinar, we will unveil a transformative product line designed to provide community banks with a competitive advantage. We will demonstrate how to develop a tailored valuation solution that meets your bank’s unique requirements. Additionally, we will highlight strategies to reduce costs, accelerate and streamline the order and valuation process, and enhance risk management through our expertly crafted products.
Our suite of valuation products is developed by experienced appraisers and industry experts with decades of knowledge.
| |
MBA SERVICE CORPORATION ENDORSED PARTNER
Will the Recent Ticketmaster Data Breach Drive More Fraud for Banks
The hacker group ShinyHunters allegedly breached Ticketmaster’s data in late May, potentially gaining access to credit and debit card information for over 560 million consumers worldwide. This equates to even more fraud losses for banks and credit unions that have already been hit hard across all payment channels this year.
Be sure to add these action items to your card fraud checklist to strengthen your defenses. Read more.
| |
MBA SERVICE CORPORATION ENDORSED PARTNER
Access key tips for #WorkCompWednesday
Learn more about #workcompwednesday tips here. The tips include weekly information on keeping you and your team safe!
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
Technology, Regulations Can't Save Orgs From Deepfake Harm
Monetary losses, reputational damage, share price declines — it's hard to counter, much less try to stay ahead of, AI-based attacks. Read more.
Read Here
| |
|
MBA SERVICE CORPORATION ENDORSED PARTNER
The Latest from Compliance 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.
| |
|
Today, we honor Juneteenth, a monumental day in American history marking the end of slavery in the United States. On June 19, 1865, Major General Gordon Granger arrived in Galveston, Texas, announcing the emancipation of enslaved African Americans—two and a half years after the Emancipation Proclamation was signed.
Juneteenth is a time to reflect on our past, celebrate progress, and continue the fight for equality and justice. Let's come together to educate, uplift, and support one another in the spirit of unity and freedom. ✊🏾❤️💛💚
| |
|
🌐 Attention business and finance enthusiasts! 🎓 The George Harding Scholarship is here to support your academic journey. Visit https://lnkd.in/eDvZYeAd to learn more and apply. Your future success starts now! 💰
hashtag
#CollegeScholarship hashtag
#FutureLeaders
| |
The ABA Emerging Leader Awards celebrate the next generation of bank leaders dedicated to excellence and community service. Nominate by July 1. Learn more: aba.social/3BJ5E1z | |
Like Us. Follow Us. Share with Us! | |
Looking for a past MBA Bank Beat? Click here to access the archives. | | | | |
