12/10/2014 CBA Today eNewsletter December 10, 2014 Community Bankers Association of Georgia https://cbaofga.siteym.com/page/12102014CBAT/? 1/6 December 10, 2014 Events CBA University Industry Representation Legislative Updates Member Services About CBA Conferences Conventions Schools Webinars Banker Regulatory Forums Compliance Superior Products... Significant Discounts VSI Program A CBA Endorsed Member Company CFPB's Plan to Police InHouse Debt Collections Has Banks on Edge As the Consumer Financial Protection Bureau readies a proposal to rein in debt collectors, significant questions remain about how it plans to treat banks that collect their own debts as opposed to hiring third parties. Some lawyers are even raising concerns that the CFPB lacks legal authority to regulate firstparty debt collectors at all. "Banks and other firstparty debt owners are watching to see how much the CFPB will attempt to regulate them like thirdparty debt collectors," said David Bizar, an attorney at Seyfarth Shaw in Boston, who has represented Wells Fargo and other banks on debtcollection matters but isn't representing a client on this issue. At issue is a proposal due by April that would establish new rules for debt collectors. The banking industry has strongly urged the agency to treat firstparty and thirdparty collectors differently. Click here to read the full article. Here We Go Again...Fannie, Freddie Announce 3 Percent Down Payment Option Fannie Mae and Freddie Mac announced that they will allowqualified firsttime homebuyers to get a mortgage with a down payment as low as 3 percent. The 97 percent loantovalue ratio option has the blessing of the governmentsponsored enterprises’ regulator, the Federal Housing Finance Agency, which said the programs will improve access to mortgage credit. The loans will require private mortgage insurance; eligible borrowers must complete a homeownership education program; and the properties must be owneroccupied. The Fannie Mae program takes effect this weekend, and Freddie Mac’s will be available after March 23. Read More from Fannie Mae. Read More from Freddie Mac. Georgia Department of Banking and Finance Adopts Final Rules 1252014 The Georgia Department of Banking and Finance (Department) adopted Final Rules on December 5, 2014. The Rules were filed with the Secretary of State on December 5, 2014 and, pursuant to O.C.G.A. § 50136, will be effective on December 26, 2014, which is twenty days following the filing of the Rules with the Secretary of State. Prior to adopting the Rules, the proposed Rules along with a synopsis were distributed on November 3, 2014. The Department received one written comment regarding the proposed Rules. The Department believes that the Rules as adopted encourage safety and soundness, encourage safe and fair mortgage lending, and conform to the law. To view or download the Final Rules, go to the Regulations page on the Department’s website and select the appropriate link for the Final Rules, or click here to access them directly. FDIC Releases 3Q State Profiles The FDIC’s thirdquarter state profiles are now available online. The profiles are formatted as a quarterly data sheet summation of economic and banking conditions for all 50 states, Puerto Rico and the Virgin Islands. Upcoming Events Compliance Program IV: Topic: AntiMoney Laundering/ Bank Secrecy Act Held in Five Convenient Cities December 11 Brunswick (New Location) Connect with CBA on Social Media! CBA Resources 2014 Georgia Financial Directory Career Center FDIC Regulatory Calendar Salary Survey
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12/10/2014 CBA Today eNewsletter December 10, 2014 Community Bankers Association of Georgia
CFPB's Plan to Police InHouse Debt Collections Has Banks onEdge
As the Consumer Financial Protection Bureau readies a proposal to rein in debtcollectors, significant questions remain about how it plans to treat banks that collecttheir own debts as opposed to hiring third parties.
Some lawyers are even raising concerns that the CFPB lacks legal authority toregulate firstparty debt collectors at all.
"Banks and other firstparty debt owners are watching to see how much the CFPB willattempt to regulate them like thirdparty debt collectors," said David Bizar, an attorneyat Seyfarth Shaw in Boston, who has represented Wells Fargo and other banks ondebtcollection matters but isn't representing a client on this issue.
At issue is a proposal due by April that would establish new rulesfor debt collectors. The banking industry has strongly urged theagency to treat firstparty and thirdparty collectors differently.Click here to read the full article.
Here We Go Again...Fannie, Freddie Announce 3 Percent DownPayment OptionFannie Mae and Freddie Mac announced that they will allowqualified firsttimehomebuyers to get a mortgage with a down payment aslow as 3 percent. The 97 percent loantovalue ratio optionhas the blessing of the governmentsponsored enterprises’regulator, the Federal Housing Finance Agency, whichsaid the programs will improve access to mortgage credit.
The loans will require private mortgage insurance; eligibleborrowers must complete a homeownership educationprogram; and the properties must be owneroccupied. TheFannie Mae program takes effect this weekend, and Freddie Mac’s will be availableafter March 23. Read More from Fannie Mae. Read More from Freddie Mac.
Georgia Department of Banking and Finance Adopts Final Rules1252014The Georgia Department of Banking and Finance (Department) adopted Final Rules onDecember 5, 2014. The Rules were filed with the Secretary of State on December 5,2014 and, pursuant to O.C.G.A. § 50136, will be effective on December 26, 2014,which is twenty days following the filing of the Rules with the Secretary of State.
Prior to adopting the Rules, the proposed Rules along with a synopsis were distributedon November 3, 2014. The Department received one written comment regarding theproposed Rules. The Department believes that the Rules as adopted encourage safetyand soundness, encourage safe and fair mortgage lending, and conform to the law.
To view or download the Final Rules, go tothe Regulations page on the Department’swebsite and select the appropriate link for theFinal Rules, or click here to access them directly.
FDIC Releases 3Q State ProfilesThe FDIC’s thirdquarter state profiles are now available online. The profiles areformatted as a quarterly data sheet summation of economic and banking conditionsfor all 50 states, Puerto Rico and the Virgin Islands.
Majority of U.S. Online Banking Customers Access TheirAccounts on Smartphones and TabletsBusiness Insider reports mobile banking hasovertaken desktoponly digital banking at three top banksin the US — Wells Fargo, Bank of America and JPMorganChase. Mobile banking customers were 53% of the size oftotal online banking customers at three banks.
Desktoponly customers — those that only accessed theiraccounts on desktop and laptop computers and never on mobile — were 47% ofonline banking customers during the same time period. We assume that all, or nearlyall, mobile banking customers also use desktop banking. But if there are manymobileonly online banking customers, then mobile is an even more important bankingchannel than the above chart suggests.
BI Intelligence, Business Insider’s research service, has argued that migration tomobile banking is a huge opportunity for smaller banks and credit unions that don’thave the resources to compete with larger banks on metrics like staff percustomerand branch locations percustomer. A good mobile banking app is an inexpensive wayto provide customers with many services that would otherwise require going to thebank and interacting with a representative.
ICBA Go Local for the Holidays ContinuesThe 2014 Go Local for the Holidays campaign continues this weekas ICBA collects community banker photos for its Main Streetholiday photo contest. Submissions are due Monday, Dec. 15, andthe winner will receive $300 for a local charity.
In a new video, ICBA’s Ann Chen and Jessica Wallace offer tipson how community banks can Go Local for the Holidays, such asparticipating in Go Local Wednesday next week. Customizablecommunity bank resources are available on ICBA’s Go Local forthe Holidays webpage. Learn More and Participate.
Don't Let the Year End Without Your Name on the List RegisterEarly for CBA's 2015 Conventions!Online registration is open! Secure your spot early in one or both ofthese actionpacked conventions. Interested in sponsoring?Contact Lindsay Greene for opportunities. For general inquiries,contact Peake Wilson.
47th Annual Meeting & Trade Show Wednesday Sunday, September 2327, 2015The Westin Savannah Harbor Golf Resort & Spa
CBA is Pleased to Announce the 2015 Spring Regional LuncheonMeetings & PAC/PR Golf Tournaments!Mark your calendar today and make plans to attend! These meetings are a fantasticway to learn about current industry news, legislative issues and financial trends. Therewill be ample time for networking and making new connections as well as catching upwith friends. And, don’t forget to sign up for the PAC/PR golf tournaments, too! TheCBA maintains the only state PAC working exclusively for Georgia’s communitybanks.
Wednesday, April 15, Idle Hour Country Club, MaconTuesday, April 21, Hilton Atlanta/Marietta
Thursday, April 23, Chateau Elan, Braselton with Golf & DinnerTuesday, May 5, Forest Heights Country Club, Statesboro
Wednesday, May 6, Doublegate Country Club, Albany with Golf & Dinner
Registration will open soon! Be on the lookout for more information to arrive at yourbusiness within the next few weeks. For sponsorship opportunities, contact LindsayGreene at 7705410376. For general inquiries, contact Peake Wilson at 7705410379.
ATTENTION LENDERS! Don't Miss the February Seminars andthe Commercial Lending School!The CBA has scheduled several educational programs in February designedspecifically for the community bank consumer, commercial and mortgage lenders.Register today and come learn from industry experts while networking with otherlenders. To learn more and to register, click the link(s) below or contact the CBAEducation Department at [email protected].
Training the Credit Analyst Atlanta Business Development I & II Duluth
Analyzing Personal Financial Statements & Tax Returns AtlantaCompliance Program III (Held in Five Cities)
Topic: "New Integrated Disclosures: Effective August 2015” Commercial Lending School (4½ days) Atlanta
Clenney Rumsey Huckaby, P.C., to Increase Market PresenceHutchins Clenney Rumsey Huckaby, P.C., of Blakely and Cordele (HCRH), acertified public accounting and advisory firm, has entered into a purchase agreementto acquire Albanybased firm Robert R. Smith CPA, P.C and will become effectiveJanuary 1, 2015. Robert R. Smith CPA, P.C., was formed in 1985 by Robert (“Bobby”)Smith and provides tax, accounting and consulting services to business andindividuals.
Heritage Bank Honors Longtime Board Member, John B. LeeAs a tribute for his upcoming anniversary with Heritage Bank, Jonesboro, CCF HoldingCompany has named its corporate meeting room the “John B. Lee Boardroom.” In1975, Mr. Lee became a director of Clayton County Federal Savings and LoanAssociation (our original company) and served faithfully as President or Chairman for33 of those 40 years guiding the through good times and bad. This is a welldeservedrecognition for a great man. Heritage Bank, a CBA member and state charteredcommercial bank, has been serving metro Atlanta’s Southern Crescent since 1955.
What are Other Banks Doing with the ALLL?Over 200 banks and credit unions were recently polled about how they have beenmanaging their allowance for loan and lease losses. In particular, feedback was givenon how they release reserves, use an unallocated reserve and use external Qfactor(s). The first poll asked whether or not banks have released reserves in the pastfour quarters. Despite improvements in the economy and credit quality, 70 percent ofrespondents have not. To see the full results, and results on the unallocated reserveand Q factors polls, click here. Submitted by Billy Burnet,Sageworks, a CBA Endorsed Member Company.
From Breach to Outreach: Tips to Restore CardholderConfidence in the Wake of Retail Security BreachesIn recent months, Americans have gotten an education —a reluctant education — on how software hackers havebeen successful in acquiring card data and personalinformation during brash attacks on bigbox retailers. And,the card data that's been stolen is in the millions.Consumers are very frightened as evidenced by themillions of calls to financial institutions to have cards reissued.
Data breaches are occurring in wellknown and oftenfrequented retail locations. Cardholders are losing confidence quickly. Until a solution,such as EMV, is firmly in place in the U.S., we may see consumers using cash moreoften for everyday purchases. They may not use their cards as often in fear of thenext breach; not to mention, it’s a big hassle to have cards replaced. We may alsosee an accelerated race to mobile payments to offset card fraud, but these paymentmethods must still prove to be very secure.
Bottom line…cardholders are confused, scared that their accounts are not safe andare highly inconvenienced when they have to replace their cards. Losing consumertrust is a BIG problem for financial institutions. Not to mention it's costly to constantlyhave to replace customers/members cards. Click here to read the fullarticle. Submitted by Mark D. Smith,Sharenet ATM.
Waycross Bank & Trust Russell Bates was named President and CEO and elected to theWB&T Board of Directors.
Private Bank of Buckhead AtlantaCarmen Enid Soto was named Personal Banker.
In Memoriam
CBA extends sincere condolences to the family and friends on thepassing of longtime Heritage Bank Board Member, Charles"Charlie" Tucker of Jonesboro. Mr. Tucker was elected to theboard of directors of Clayton County Federal Savings and LoanAssociation in 1978. He was a true Southern gentleman and will bemissed.
Send Us Your News Please remember to include the Community Bankers Association of Georgia on thelist of recipients for announcements about promotions, new employees, specialrecognition your bank has received and/or events for your community. We would loveto share your news with your colleagues across the state! Please forward yourannouncements and photos to Shera Banks or Lindsay Greene.
JANUARY 2015 FDIC Community Bank & Directors’ Capital Markets Workshop
Tuesday, January 27, 2015 – Atlantaor
Thursday, January 29, 2015 – Macon
Additional 2015 CBA Educational Opportunities will be announced soon!For assistance, please contact the CBA Education Department.
Business Development I & IITuesdayWednesday, February 34, 2015Hilton Garden Inn at Sugarloaf, Duluth
Bankers Regulatory Forum
Thursday, February 5, 2015 The Brickyard, Macon
Analyzing Personal Financial Statements & Tax ReturnsThursday, February 5, 2015 CBA Headquarters, Atlanta
CBA Day at the Capitol
Wednesday, February 11, 2015 Atlanta
Compliance Program III Topic: "New Mortgage Integrated Disclosures: Effective August 2015"(TwoDay ProgramHeld in Five Cities Day II: Adjourn at 2:00 pm)
Tuesday, February 34, 2015The Forum, Rome
ThursdayFriday, February 56, 2015Stonebridge Golf & Country Club, Albany
TuesdayWednesday, February 1011, 2015Idle Hour Country Club, Macon
ThursdayFriday, February 1213, 2015 The Hilton Garden Inn at Sugarloaf, Duluth
WednesdayThursday, February 1819, 2015The Holiday Inn, Brunswick
Commercial Lending School (4½ days)MondayFriday, February 2327, 2015
CBA Headquarters, Atlanta
MARCH 2015
2nd Annual Women in Banking ProgramThursday, March 5, 2015 Idle Hour Country Club, Macon
Allowance for Loan & Lease Losses (ALLL)Thursday, March 5, 2015 CBA Headquarters, Atlanta
Consumer Lending School (4 ½ days)MondayFriday, March 913, 2015 CBA Headquarters, Atlanta
Leadership AcademySession I: Wednesday, March 11, 2015 MaconSession II: LDC June 1215, 2015 Sandestin
Session III: Wednesday, August 19, 2015 MaconSession IV: Wednesday, October 28, 2015 Macon
Workplace Law & Compliance ProgramWorkshop I: Thursday, March 12, 2015 SIO Law Group Office, Atlanta
Workshop I: Thursday, March 19, 2015 The Idle Hour Country Club, Macon
7th Annual Bank Directors & Executive Management ConferenceMonday, March 23, 2015 Atlanta
Compliance Management School (New 3 ½ days)TuesdayFriday, March 2427, 2015 – Atlanta
2015 WEBINARS
Click here to view webinar listing and to register
