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Alyssa, don't miss these important MBA updates...
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The MBA Perry Schools of Banking has a long history of helping its students gain a broader knowledge and understanding of major banking functions such as credits, investments, asset and liability management, planning and control, regulatory issues, human resources and marketing. The school is governed by a board of trustees. Students are in residence one week each year for the three years. Students spend a minimum of 40 hours in the classroom and work on projects throughout the year. They also take comprehensive final exams, along with competing in Bank Simulations! View the Mid-Michigan Banking Group Scholarship Application. | |
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LANSING
Payday Loans Update
The Michigan Senate will be taking a vote on two Payday Lending Bills later today. SB 632 is a bill the MBA is neutral on and would cap the usury rate at 36% in the state. We support HB 4343 which deals with reporting from DIFS on Payday Lending Activity in Michigan.
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GRASSROOTS
Rep. Kristian Grant's Upcoming Events in Grand Rapids
Rep. Grant (D-Grand Rapids) who met with the MBA this past week to discuss housing issues has two upcoming events in which she plans to engage Grand Rapids bankers.
Urban Economic Roundtable
April 8th, 10:00 am-2:00 pm, 1167 Madison Ave. SE, Grand Rapids, MI 49507
This is an annual event the Rep. hosts where legislators and community partners gather to discuss economic development in urban cores. This year’s focus is housing.
Women in Business Celebration
March 30th, 12:00-2:00 pm, Women’s Resource Center
This event is a way to celebrate small and micro businesses from Grand Rapids and to connect them to resources.
If you are interested in these events, please contact Alex Morris at amorris@michigan.bank.
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REGULATORS
OCC’s Hsu: Agencies Considering Changes to Operational Resilience Requirements
Banking regulators are considering what changes to the U.S. operational resilience framework may be appropriate as the risk for a major disruption in critical banking services grows, Acting Comptroller of the Currency Michael Hsu said earlier this week. Speaking at an international banking conference in Washington, D.C., Hsu said that as banking services continue to grow and as technology and third parties play a greater role in providing those services, “the threat surface for disruptions is expanding.” Read Hsu’s remarks.
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TAX ISSUES
IRS Holds Off on IVES Updates, Seeks Industry Input
The IRS last week said it would postpone policy updates to the Income Verification Express Services program. IVES allows taxpayers to authorize third parties to request their tax return or wage transcripts to obtain a residential or commercial mortgage. Participants can include banks, credit unions, mortgage brokers and others servicing clients within the mortgage lending industry. Read the IRS notice.
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HUMAN RESOURCES
ABA, Associations Support Legislation to Stop DOL Overtime Proposal
ABA joined 101 national, state and local industry trade associations—under the banner of the Partnership to Protect Workplace Opportunity—to express support for H.R. 7367, the Overtime Pay Flexibility Act. The legislation, introduced by Rep. Eric Burlison (R-Mo.), would prohibit the Department of Labor from finalizing its proposed rule to significantly increase the number of employees who are subject to the Fair Labor Standards Act’s overtime and minimum wage requirements.
Under DOL proposal, employees who earn up to $60,209 would be subject to federal overtime and minimum wage requirements. Current regulations set the salary level at $35,568 annually. Above that level, an employee may be exempted from federal overtime and minimum wage requirements if the employee performs certain duties. Read the PPWO’s comment letter.
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DIVERSITY, EQUITY AND INCLUSION
The 2024 ABA Diversity, Equity & Inclusion Awards
Recognize your bank by nominating it for an ABA Diversity, Equity and Inclusion Award! Celebrate diversity, drive innovation and ignite change. Nominate today.
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2024 ANTI-MONEY LAUNDERING/BANK SECRECY ACT (AML/CFT/BSA)
Two-Day Compliance School | May 14-15 | Lansing or Virtual
This seminar assists financial institutions in meeting the annual training requirements imposed by the BSA regulations and provides attendees with the opportunity to network with other professionals interested in AML/BSA compliance.
Who Should Attend
This program is designed for personnel who have management-level responsibilities for AML/CFT/BSA compliance. Individuals with retail banking, risk management, compliance, audit, operational, corporate banking, and training responsibilities will benefit from this program.
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It's Time to Fight Back!
Banks are losing money to criminals every day.
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 to fight it.
Learn from FBI, Secret Service Agents and more. Customized for bankers like you. Join us at this multi-state event in downtown Lexington or virtually!
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PROFESSIONAL DEVELOPMENT
Financial Institutions Advisor: Insights for 2024 and beyond
Stay ahead of the latest developments for financial institutions in 2024. From post-CECL adoption best practices to identifying cybersecurity vulnerabilities, our expert guidance can help navigate challenges ahead. Download the 2024 Financial Institutions Advisor.
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MBA SERVICE CORPORATION
Cornerstone Advisors at the Michigan Bankers Association BEST Conference
March 20-22 | Traverse City, Mich.
With great content spanning six learning tracks, the BEST Conference features learning opportunities for everyone. Amanda Swanson, senior director at Cornerstone Advisors, will present "Marketing Through Digital Channels with an Emotional Connection." While you're there, be sure to stop by Cornerstone's booth in the exhibit hall and say hello to Jen Wagner, Cornerstone's director of client relations.
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MBA SERVICE CORPORATION
Bank Compliance Leader Award Due Today!
Bankers Alliance is excited to announce its first annual Bank Compliance Leader Award. Banks will have the opportunity to recognize an individual in their institution who has had a positive impact not only as a compliance leader within the bank but also the community and industry. Please review and share the submission page with your fellow bankers. Submit your nominations here.
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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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Join us in celebrating the outstanding women aged 40 or younger who are leaving an indelible mark on our industry and community. This award, presented at the annual MBA Women in Banking Day, is a tribute to those making a significant impact, particularly in areas like financial literacy, earning them the title of "one to watch."
Candidates we're looking for are deeply interwoven in their communities, achieving success independently while thriving on collaboration. They share a unique vision, actively contribute to team success, and are continually forward-thinking. These women welcome change and eagerly seize new opportunities to tackle innovative projects.
Nominate a remarkable woman who embodies excellence in leadership, community engagement, and forward-looking vision. Let's shine a light on those shaping the future of our industry! Submit your nominations here: https://conta.cc/3TxnT41
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🌸 Happy International Women's Day! 🌸
Today, we celebrate the strength, resilience, and achievements of women around the world. International Women's Day is not just a day; it's a powerful movement that unites us in the pursuit of gender equality. Together, we honor the progress made and acknowledge the work that still lies ahead.
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A Would You Rather email about hot dogs from your bank? That’s alarming. Just as alarming as an email asking for your SSN, ‘cause #BanksNeverAskThat. Get the lowdown on scams ➡️ BanksNeverAskThat.com. | |
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