Community Bankers Association of Illinois
Community Bankers Association of Illinois Community Bankers Association of Illinois Community Bankers Association of Illinois
 
     A Bi-Weekly News Bulletin for CBAI Members                     June 17, 2009 Graphic
Graphic
Community Bankers Association of Illinois
Community Bankers Association of Illinois Community Bankers Association of Illinois


  • White House Unveils Financial Restructuring Plan
  • ICBA Outlines Principles for Financial Regulatory Reform
  • Republicans Offer Reform Plan
  • Bair Cautions Banking Crisis Is Not Over
  • Congressman Gutierrez To Introduce Bill to Combat Systemic Risk
  • Baker Market Update
  • Community Bankers School Registration Deadline Is July 1, 2009
  • Register for CBAI Convention by June 30 To Be Eligible for Great Prizes!
  • Summary of Fed's Annual Risk Management Conference
  • OCC Approves Rules and Guidelines Implementing Accuracy and Integrity Provisions of the FACT Act
  • Are Your Bank Directors in the Loop?
  • FDIC State Profiles for First Quarter Available
  • Affinion Quarterly Newsletter Speaks to Identity-Theft Issues
  • Agencies Issue Frequently Asked Questions on Identity-Theft Rules
  • Federal Reserve Responds to New Accounting Standards
  • Regionally Recession-proof Industries Identified
  • FedEDI® Plus Service Offers Complete Picture in Payment Information
  • Article from Harland Clarke Celebrates Opportunities for Banks
  • New Online Resource about Community Banking


  • White House Unveils Financial Restructuring Plan

    President Obama announced today (June 17) the Administration’s plan to restructure how banks and other financial firms are regulated in an effort to prevent another financial collapse. The plan would merge the OTS into the OCC and expand the role of the Treasury as head of a new council of regulators to monitor system-wide risk. A new consumer watchdog agency would be established that could make rules and enact them to protect consumers from deceptive practices in mortgage lending and credit cards. The Federal Reserve would be in charge of regulating companies posing systemic risk.
    More information.

    ICBA President and CEO Cam Fine represented the nation’s community banks when he joined President Obama and Treasury Secretary Timothy Geithner at the White House shortly before noon today for the administration’s announcement of its financial regulatory reform proposal. ICBA has helped direct the debate on regulatory reform by meeting repeatedly with leading policymakers, testifying before Congress and submitting to Geithner the association’s regulatory reform plan. The association has vigorously advocated for a systemic-risk regulator. For the community bank perspective on the administration's plan, click here.

    ICBA is the only national banking trade association that has offered specific proposals on regulatory reforms – including giving the FDIC resolution authority for systemic-risk institutions -- and will continue working with Congress and the administration to ensure these reforms benefit the nation’s community banks and their customers.

    Back to top

    ICBA Outlines Principles for Financial Regulatory Reform

    The Independent Community Bankers of America (ICBA) has
    outlined in a letter to Treasury Secretary Timothy Geithner its core principles for financial services regulatory reform and called on the Treasury Department to address systemic-risk institutions and unregulated entities, support multiple federal banking regulators, maintain the nation’s dual banking system and reform the FDIC risk-based assessment system. The association also called for the FDIC to have resolution authority for systemic-risk institutions and expressed concern over a separate consumer protection commission for financial products.

    Back to top

    Republicans Offer Reform Plan

    The era of the too-big-to-fail policy is one of the key features of a Republican regulatory reform proposal issued recently by house Financial Services Committee Ranking Member Spencer Bachus (R-Ala.) and other minority members of the committee. The plan would end all bailouts and direct all insolvent nonbanks to an enhanced bankruptcy process. It would also end the supervisory role of the Federal Reserve so it could focus on its core mission of conducting monetary policy.
    Read the full account here.

    Back to top

    Bair Cautions Banking Crisis Is Not Over

    As focus turns to regulation reform, she says, “many more bank failures” lay ahead
    As reported on
    www.forbes.com, FDIC Chairman Sheila Bair stated recently that, while the crisis that swept through the financial world last year has subsided somewhat, it was far from over and there would be “many more bank failures” ahead. For the complete article and related stories and videos, click here.

    Back to top

    Congressman Gutierrez To Introduce Bill to Combat Systemic Risk
    Legislation Advances ICBA-Advocated Policies

    ICBA President and CEO Cam Fine joined Reps. Luis Gutierrez (D-Ill.) and Paul Kanjorski (D-Pa.) at a
    news conference this morning (June 17) to introduce legislation that would fulfill two top ICBA policy priorities by broadening the assessment base for FDIC deposit insurance premiums and creating a separate systemic-risk premium for too-big-to-fail banks that represent a systemic threat to our nation’s financial system. These ICBA-proposed policies will ensure more equitable regulation of Main Street and Wall Street financial institutions.

    Back to top

    Baker Market Update

    Treasuries recovered; retail sales in May rose for the first time in three months; and the Fed released its summary of current economic conditions (the “Beige Book”).
    More details.

    Back to top

    Community Bankers School Registration Deadline Is July 1, 2009

    Register today for the 2009 Community Bankers School (CBS)! CBS consists of two, one-week sessions at Illinois Wesleyan University, located in Bloomington, IL. The 2009 session opens Sunday, July 12, and concludes Friday, July 17. Now also sponsored by the Independent Community Bankers of America, the Community Bankers School provides broad exposure to important elements of community banking. It gives students the most up-to-date thinking on core principles including compliance, operations, consumer credit, documentation, asset/liability management, marketing, management principles, and much, much more. Plus, it gives attendees a vast range of specific banking skills and techniques that can contribute immediately to their banks' overall success. Take control of your career and apply with the Community Bankers School. Featuring a well-rounded curriculum, the best instructors in the country, and a 20-year reputation of excellence, CBS is your fastest way to get ahead.

    For more information, please visit the new CBS website at
    www.thecommunitybankersschool.com today!

    Back to top

    Register for CBAI Convention by June 30 To Be Eligible for Great Prizes!

    Scheduled for September 24-26, at the Renaissance Hotel in Schaumburg, CBAI’s 35th Annual Convention and Expo provides the information and insight you need to “Survive and Thrive.” With our largest-ever 112-booth Exhibit Hall, world-renowned keynote speakers, informative and timely education sessions, and exciting social activities, you won’t want to miss it! Register by June 30, to receive a price break and to be eligible for
    great prizes. To register, please visit www.cbai.com today!

    Back to top

    Summary of Fed's Annual Risk Management Conference

    This year’s Federal Reserve Bank of Chicago Risk Management Conference focused on how the rapidly shifting financial and economic environment is changing the way risk is being managed. The
    attached Chicago Fed Letter provides a summary of the relevant research presented and discussions held by the bankers, supervisors, and academics in attendance.

    Back to top

    OCC Approves Rules and Guidelines Implementing Accuracy and Integrity Provisions of the FACT Act

    The Office of the Comptroller of the Currency has approved for publication in the Federal Register final rules and guidelines for section 312 of the FACT Act regarding the accuracy and integrity of information furnished to consumer-reporting agencies.
    More.

    Back to top

    Are Your Bank Directors in the Loop?

    Bank directors need to be, deserve to be, and for the most part, enjoy being on the inside track of banking information. It is their responsibility to be as current and knowledgeable about many banking matters as their banks’ officers. For just $60 per year per director, your outside directors will receive discounts off of CBAI Directors’ Seminars and Convention registration, a Banknotes subscription, plus access to the CBAI Members Only portion of the website (www.cbai.com), among other perqs. To apply, simply fax the
    attached form to CBAI.

    Back to top

    FDIC State Profiles for First Quarter Available

    The
    First Quarter 2009 FDIC State Profiles are now available online. The FDIC State Profiles are formatted as a quarterly data sheet summation of economic and banking conditions for all 50 states, Puerto Rico, and the Virgin Islands. They are available in both HTML and PDF formats.

    Back to top

    Affinion Quarterly Newsletter Speaks to Identity-Theft Issues

    Affionion is a CBSC preferred-services provider. Its first quarterly newsletter is
    attached and focuses on identity theft.

    Back to top

    Agencies Issue Frequently Asked Questions on Identity-Theft Rules

    Six federal agencies issued a set of frequently asked questions (FAQs) to help financial institutions, creditors, users of consumer reports, and issuers of credit cards and debit cards comply with federal regulations on identity theft and discrepancies in changes of address.

    The “Red Flags and Address Discrepancy Rules,” which implement sections of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act), were issued jointly on November 9, 2007, by the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), Office of Thrift Supervision (OTS), and Federal Trade Commission (FTC). For the FAQs and answers, go to
    http://www.fdic.gov/news/news/press/2009/pr09088a.pdf.

    Back to top

    Federal Reserve Responds to New Accounting Standards

    The Federal Reserve notes the Financial Accounting Standards Board's publication of Statements of Financial Accounting Standards No. 166 and 167 (FAS 166 and 167), which will have a material effect on banking organizations' accounting for off-balance sheet vehicles. These statements, which become effective in 2010, address weaknesses in accounting and disclosure standards for off-balance sheet vehicles. The new standards amend Statement of Financial Accounting Standards No. 140, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities (FAS 140), and FASB Interpretation No. 46(R), Consolidation of Variable Interest Entities (FIN 46(R)).

    For the full text of the news release,
    click here.

    For the ICBA letter to Treasury, click here.

    Back to top

    Regionally Recession-proof Industries Identified

    Sageworks, CBSC preferred provider of credit-analysis software, has released data which includes a regional map showing what types of businesses grew their sales the most over the last 12 months — they are “regionally recession-proof.” Some industries have remained unharmed by the recession, specifically those that are the backbone of each region such as tech in the West, farming in the Midwest, transportation in the Northeast, and petroleum in the South.

    Back to top

    FedEDI® Plus Service Offers Complete Picture in Payment Information

    The Federal Reserve Banks announce a suite of enhancements to the FedEDI® Plus Service that can change the way depository financial institutions (DFIs) and their business customers think about payment information. The enhancements include new reports and functionality and are now available to FedACH® Services customers.

    Back to top

    Article from Harland Clarke Celebrates Opportunities for Banks

    Despite the grim reality of the current economic recession, now is an opportune time for financial institutions to think creatively and strategically in order to get a step ahead of competitors.
    Click here to read more.

    Back to top

    New Online Resource about Community Banking

    BankNews Publications has a new website which is dedicated to news about community banks:
    www.CommunityBankingToday.com. It promotes community banks that continue to serve their communities and operate successfully, even in today’s turbulent economic conditions. It also has a companion online link, GreenBankingCentral, providing news updates and case studies of banks “going green.”

    Back to top

    CBAI

           

    CBAI's PROFESSIONAL DEVELOPMENT PROGRAMS THROUGH 8/1/09



    TELEPHONE/WEBCASTS THROUGH 8/1/09



    CBAI
    RECOMMENDED SERVICES



    CBAI
    INSURANCES



    CBAI
    FOUNDATION



    CBAI
    PUBLICATIONS







    800.736.2224 (IL) | 217.529.2265 | www.cbai.com

    DISCLAIMER:The association is not responsible for and has no control over the subject matter, content, information, or graphics when viewing links attached to this association's site. If you do not wish to receive e-mails from Community Bankers Association of Illinois (CBAI), 901 Community Drive, Springfield, IL 62703, through CBAI in the future, please click here. - OR - If you would like to be removed from the CBAI e-mail database, please click here.

    © 2008 Community Bankers Association of Illinois. All Rights Reserved.