IBANYS News and Updates

Community Banks Adjusting To "The New Normal"

Life in America has changed dramatically over the past week due to the coronavirus cover 19 pandemic. Terms which a few short weeks ago were not in our everyday vocabularies -- social distancing, shutdowns, lockdowns, sheltering at home
-- now inundate us. There is uncertainty as to what may come next, how long the crisis may last, and what responses will be recommended to, or required of, us all.
For community banks, it has been a time of challenges and difficult choices, as we work to protect our employees, our customers and our communities. Federal and state regulators, the Trump and Cuomo administrations, Congress and the State Legislature are working to provide guidance and assistance. IBANYS is committed to keeping New York community banks fully informed and up-do-date by sharing information and developments on a timely basis. 

(PLEASE SEE DETAILS BELOW FOR WEBINARS AND CONFERENCE CALLS BEING OFFERED BY OUR ASSOCIATE MEMBERS - Pursuit (formerly NYBDC) on 3/19 @10am, ICBA Briefing on 3/19 @3pm and nContracts on 3/24@1pm)

  • We have held conference call briefings to provide updates and discuss the potential impact on New York community banks, their customers, their employees and their communities. The discussions included legislative and regulatory updates, and input from bankers on their responses to this rapidly changing situation such as changes to operations, policies and procedures they have either implemented or are considering.
  • We have also sent out regular written updates featuring policy updates, shared practices and much more.
  • We have been in contact with senior leadership of the New York State Department of Financial Services to stay abreast of their perspective, and to relay the concerns and realities impacting community banks.

As banks consider a number of options, they remain open even as other businesses may close. The issues of employee protection and support are paramount.
 
  • Banks may consider providing drive-through service only at some branches, to go along with digital/online banking services. 
  • Bank branches with no drive-through or ATM facilities could consider asking other nearby banks to make arrangements for cashing checks and consider refunding foreign ATM fees
  • Banks are considering reduced hours during the week and also closing branches on Saturdays
  • Banks are rotating or dividing their operations and customer care staffs to different locations (e.g., split among branch, operation center and headquarters) to ensure they are not all in one facility together run the event of exposure. 
  • Banks do not anticipate reducing their customer service hours over the telephone 
  • Banks are conducting meetings by appointment only
  • Some banks are considering or have already moved to requiring interest only payments on loans during the crisis. They have also considered waiving overdraft fees for a certain period of time. 

The  American Banker is providing  a comprehensive online feed of its coronavirus coverage, with analysis of its impact and how the industry is responding.  Visit www.americanbanker.com

As we all adjust to "the new normal" we urge everyone to please stay safe and follow the recommendations of the health professionals.



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POSTPONED  
IBANYS Directors Conferences Postponed Due To Covid 19
Due to the COVID-19 crisis, and with the priority of protecting the wellness of all involved,  IBANYS is following the guidelines sent forth by the CDC and will postpone our April 7, April 8 and April 16 Regional Directors Conferences in Rochester, Poughkeepsie and New York City. These conferences will be rescheduled.

IBANYS 2020 Meetings  -  click the meeting to download brochure and to register

ICBA Capital Summit -  (STILL SCHEDULED - WAITING FOR MORE INFO)
April 28 - May 1, Washington, D.C. Register at  www.icba.org , then email Steve Rice or John Witkowski to request meetings with your local Congressional Representatives.  NOTE : Please watch for news regarding whether this Summit will be held as scheduled, or postponed by ICBA.

POSTPONED
IBANYS  Security Conferences Postponed Due To Covid 19
Due to the covid 19 crisis, IBANYS has postponed our Regional Security Conferences scheduled for May 5 in Rochester and May 6 in Poughkeepsie. These conferences will be rescheduled. 

IBANYS 46th Annual Convention -   The Roaring 20s - Another Decade of Growth and Prosperity for Community Banks
June 15-17, 2020 - Turning Stone Resort & Casino, Verona, NY
(details and registration information will be emailed this week)
A block of rooms has been reserved for this event. Tower Rooms: $164; Tower Junior Suites: $244; Lodges Suites: $269. To receive the room block rate you must call 1-800-771-7711. Book your room today. Our room block will sell out.