Proposed Revisions to the Qualified Mortgage Definition

Last week, ABA filed comments regarding the CFPB's proposed revisions to the Qualified Mortgage (QM) definition in anticipation of the expiration of the GSE Patch's in January 2021. We want to correct recent misunderstandings or mischaracterizations that have been circulating regarding ABA's position, which was informed by a working group that included banks of all sizes. (Read More)

PROFESSIONAL DEVELOPMENT SPOTLIGHT

October 5, 2020 | Virtual

WVBA's Bank Security School is designed to give both the new and the experienced Security Officer an educational program that:
  • Provides you with a critical resource for receiving timely and continuing security education
  • Will expose you to established and emerging "industry-standard" security practices
  • Enhances your credibility with your peers and with your board of directors
  • Encourages you to continue your personal and professional development
  • Can reduce your personal and corporate liability.
This program qualifies as annual training for security officers as recommended by the Bank Protection Act.  Attendees can earn Certified Financial Services Security Professional credit from the Institute of Certified Bankers as well as CPE credit hours with the WV Board of Accountancy.

Click HERE for the registration & details.
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October 7, 2020 | Presented by Eric Nelson

October 20, 2020 | Presented by Dianne Barton
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Attention Members!!!
To receive your member rate, please make sure to use the WVBankers Member Promo Code: "wvbankers"


ABA Virtual Washington Fly-in: Southeast Region
September 21 - 25, 2020

Join fellow bankers and industry leaders from across the Southeast for a virtual meeting with agency leadership and lawmakers. In partnership with state bankers associations, ABA is hosting this year's Washington Fly-in to ensure policies crucial to the banking industry remain front and center, and to provide a forum for critical questions from your bank. You will not want to miss out on this opportunity to speak directly to regulators about the need for commonsense policies and smart reform that will help America's banks better serve their communities and grow the economy.

The Southeast Regional Virtual Washington Fly-in begins September 21st with an in-depth discussion with ABA experts on key issues facing our industry at the federal level, followed by discussions throughout the week with:
  • Federal Reserve Board Governor Michelle Bowman 
  • Senior OCC Staff
  • CFPB Director Kathy Kraninger (To Be Scheduled)
  • FDIC Chairman Jelena McWilliams  
Contact the ABA team at abastatealliance@aba.com or Sally Cline, WVBankers President & CEO, at (304) 343-8838 or scline@wvbankers.org with any questions.

Registration is open to all bankers regardless of ABA membership. If a banker from a non-ABA member bank wishes to register all they need to do is create a free account on ABA.com and they will be able to proceed with their registration.  

                   
Speakers Announced for the Mid-Atlantic Bank Executives Speaker SeriesREGISTRATION STILL OPEN!
 
The Delaware, Maryland, Pennsylvania, Virginia and West Virginia Bankers Associations present a six-month speaker series that will deliver timely and engaging content geared specifically towards bank CEOs and senior leadership. The series began in July and will run through December. Recordings will be provided for past sessions.
 
We hope you will join us live for the hour-long sessions. Upcoming speakers and topics include:
 
October 2 (BONUS SESSION): Moderated by Rob Nichols, ABA - Panelists: 
OCC Comptroller Brian Brooks; FDIC Chairman Jelena McWilliams
Federal Reserve Governor Michelle Bowman | Regulator Panel

October 9: David Motley, African American Directors Forum | Building a More Diverse Board & New Demands on Leaders Regarding Diversity

November 13: Jim Burson, Cornerstone Advisors, Inc. | The Digital Banking Landscape
 
December 11: Bob Kafafian, The Kafafian Group | Key Considerations for Performance and Profitability in 2021

Past recorded sessions included with current registration:
  • July 10 - Jim Vandei, Axios "Current Events Impacting Banking (COVID-19, Political, Social)"
  • August 14 - Tom Barkin, Federal Reserve Bank of Richmond; Patrick Harker, Federal Reserve Bank of Philadelphia "Economic Update"
  • September 11: Alex Vogel, The Vogel Group | Political Outlook - Election 2020 
FEATURED ARTICLE
West Virginia Foreclosures in the Age of Corona
Russell Jessee and Sarah Ellis, Steptoe & Johnson PLLC
 
Economic turmoil brought on by the coronavirus pandemic has created much concern about a potential rise in residential foreclosures.
 
On August 5, 2020, Governor Jim Justice followed his presentation on school reopening with a plea to avoid evictions and foreclosures. Addressing landlords and banks, he said, "You've got people that are on unemployment and everything and they're waiting because now their checks and their payments are being somewhat suspended - those bonus dollars that they need very badly. . . . We absolutely need to help these people. And so, from the standpoint of our landowners, our landlords, and our banks, please give these people a pass for right now. They really, really need it." FULL ARTICLE > 
2021 West Virginia Bank Directory Questionnaire

The West Virginia Bankers Association has again retained BLR - Business & Legal Resources, a division of Simplify Compliance LLC ("BLR") to produce the 2021 West Virginia Bank Directory. BLR of Brentwood, Tennessee has an excellent reputation in directory publishing throughout the United States. We are confident our partnership with them will result in a high quality bank directory.
 
We collected information from your bank last year, and we are sending that information for you to update for the 2021 directory. Receipt of your bank's information is essential to a successful publication. Forms were sent on August 19, 2020. 

Please note the deadline is September 23, 2020 to return your form to the publisher. Thank you for your prompt attention to this matter. If you have any questions regarding the questionnaire or the 2021 Directory, please contact Rhonda Rankin at rrankin@blr.com or 800-274-6774, ext. 8081 or Shannon Kessler, skessler@wvbankers.org or (304) 343-8838.
CALL TO ACTION!

West Virginia Bankers: Ask The Senate To Modernize Brokered Deposit Rules
It's been 30 years since today's brokered deposit rules were first enacted. Since then, the banking industry has undergone significant technological and other changes, resulting in brokered deposit rules that are out of sync with the  modern banking environment. 

Ask your senator to modernize the 30-year-old brokered deposit rules. Specifically, replace Section 29 of the Federal Deposit Insurance Act so that healthy banks are not penalized for using modern bank funding mechanisms. ACT NOW!


West Virginia Bankers: Urge the Senate to Simplify Forgiveness for PPP Loans $150K and Under
Since April 3, bankers across the country have assisted small businesses in their communities by providing loans through the Small Business Administration's Paycheck Protection Program. To date, small businesses have received over 4.8 million loans through the program. As the Paycheck Protection Program enters the forgiveness phase, the process should be easy, simple and less technical for small business owners who borrowed $150k or less, which account for 86% of all PPP loans.

Click on the link below to contact Senator Manchin and Senator Capito to support legislation to expedite the forgiveness process for most borrowers who received loans through the PPP. ACT NOW!


Urge the House to Pass Legislation to Forgive PPP Loans of $150,000 and Under
The House recently introduced legislation to simplify the forgiveness process for PPP loans of $150,000 and under by having borrowers sign a simple form saying the funds were used according to the PPP loan requirements. You've already contacted your senators encouraging them to pass similar legislation. Now it's time to ask your representative to quickly pass a bill to make the PPP forgiveness process simple and less technical for small business owners.

Contact your representative and ask him or her to ease the burden on small businesses and pass legislation to forgive PPP loans of $150,000 or less. ACT NOW!

   
Member News
'Standout' Banks Identified for Covid-19 Response
ICYMI: ABA Newsbytes
ABA and State Banker Associations Letter re Simplified PPP Forgiveness Process
#BanksNeverAskThat Fight phishing fraud with this free, ready-made campaign from ABA
DOJ: Financial Institutions 'Strong Partners' in Detecting, Reporting PPP Fraud
Do you have news to share? Please forward your press releases and photos to Allison Boyd
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