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Alyssa, don't miss these important MBA updates...
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PROFESSIONAL DEVELOPMENT
Register for the MBA Bank Management and Directors Conference
Michigan Bankers,
It is my pleasure to invite you to Rochester!
The Bank Management and Directors Conference gathers community bankers together from around the state to educate, engage, connect and inspire. We encourage you to bring members of your senior management team and board of directors at a special, discounted rate for multiple registrants. Whether they attend one day or the entire program, it is a valuable way to gain new insight.
I look forward to being with you!
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Roxanne M. Daust
MBA Chairman
President and CEO, Range Bank
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GRASSROOTS
Bankers Meet With Congresswoman Rashida Tlaib
MBA and bankers from across the 12th congressional district gathered in Dearborn to discuss pertinent issues affecting banking with Congresswoman Rashida Tlaib. The Congresswoman's service on the U.S. House Financial Services Committee makes her an influential member of the Michigan Congressional delegation.
The issues discussed included industry concerns regarding the current 1071 small business data reporting rule from the CFPB, Stablecoin legislation (H.R. 4766) that is currently before her committee, details on the FDIC deposit insurance rule, and financial services marketplace issues more broadly.
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WASHINGTON D.C.
MBA Chairman Roxanne Daust took a quick minute to respond to emails from her team between meetings on The Hill this week on behalf of the banking industry in the shadow of The Capitol.
"The Community banking system is the economic heart of this country.” - Jack Bergman
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FHLBI ELECTIONS
FHLBank Indianapolis 2023 Michigan Member Director Election
Eligible FHLBank Indianapolis members in Michigan will have the opportunity to elect two member directors in the upcoming election.
The candidates, in alphabetical order by last name are:
- Jacqueline Buchanan, President and CEO, Genisys Credit Union, Auburn Hills, Michigan
- William Hufnagel, President and CEO, Dart Bank, Mason, Michigan
- Kenneth Kelly, Chairman and CEO, First Independence Bank, Detroit, Michigan
- Margaret (Peg) Lamb, Senior Vice President and Chief Risk Officer, People Driven Credit Union, Southfield, Michigan
- Michael Manica, Vice Chairman and Director, United Bank Financial Corp., the bank holding company of United Bank of Michigan, Grand Rapids, Michigan
- Kelly Potes, CEO, ChoiceOne Bank, Sparta, Michigan
- Robert Worthington, Senior Vice President, Chief Risk Officer, Secretary and General Counsel, Mercantile Bank, Grand Rapids, Michigan
Kenneth Kelly, Chairman and CEO, First Independence Bank, Detroit and Michael Manica, Vice Chairman and Director, United Bank, are running for re-election.
In addition to the above, there are also two independent director seats that will be open for election district-wide. The slate of independent director candidates will be announced in early September.
Voting for the 2023 FHLBank Indianapolis Director Election will open Sept. 25, 2023, and close on October 26, 2023.
For questions or assistance with the election, contact FHLBank Indianapolis Corporate Secretary Lyndsay Miller at [email protected].
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DIVERSITY, EQUITY & INCLUSION
SAVE THE DATE: MBA INAUGURAL DEI Forum
FREE | Virtual
Save the date for November 15th for a virtual MBA Diversity, Equity & Inclusion (DEI) Forum at 11:00 a.m. This forum will give members a platform to discuss and share information about how they are implementing aspects of DEI in the workplace and at home, plus learning best practices.
Have questions? Contact Ashley Beesley at [email protected]. Stay tuned!
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OBITUARY
Past MBA Chairman Robert E. Picking Obituary
Past MBA Chairman, Robert E. Picking, 87, of West Olive (formerly of Hastings) died earlier this week. View obituary. Bob served as the MBA Chairman in 1997 and was a member of the Michigan Traveling Circus. Bob joined Hastings City Bank in 1975 and led the bank as President, CEO, and Chairman of the Board of Directors from 1979 until 2002. Please keep the Picking family in your thoughts and prayers.
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FINANCIAL LITERACY
Attend the Financial Literacy Tour With Representative Brenda Carter and Representative Stephanie A. Young
When: September 15 | 11:00 a.m. - 1:00 p.m.
Location: Our Gathering Place (Inside the Historic Pure Word MBC); 20011 Grand River Ave. Detroit
Join Representative Brenda Carter and Representative Stephanie A. Young for a Financial Literacy Meeting. This meeting will include resources and a community discussion on financial capability and literacy from experts from multiple state departments and Michigan organizations. Learn more.
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FINANCIAL LITERACY
Financial Literacy Webinar Series to Kick Off Sept. 20
With financial literacy reportedly declining in the U.S., the ABA Foundation will hold a free, two-part webinar series to examine the problem and to provide banks with ways to advance solutions in their communities. The first webinar on new research highlighting financial literacy problems will be held on Wednesday, Sept. 20, at 1 p.m. EDT. The second webinar on specific solutions for banks will be held on Wednesday, Oct. 4, at 1 p.m. EDT. Register for the Sept. 20 webinar. Register for the Oct. 4 webinar.
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ELECTRONIC, LEIN, AND TITLE
ICYMI: ELT Mandatory Enrollment Date- Oct 1, 2023
MDOS announced that October 1, 2023 is the mandatory ELT enrollment date for lenders who finance vehicles in Michigan. Lenders are encouraged to enroll well in advance of the 10/1/23 date to maximize the benefits of ELT utilization. Questions regarding Michigan’s ELT program may be submitted to the department by emailing: [email protected].
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LANSING
Workgroup Updates on Garnishment and Rental Bill of Rights
The MBA has been engaged over the summer in conversations with bill sponsors and state agencies on both the garnishment legislation in the House (HB 4900) and the Senate (SB 408). Both of the sponsors, once educated on the concept that their bills would create an ungarnishable class that would then have reduced access and more expensive (riskier) credit, state they are willing to work on alternative language to protect the EITC, which was their primary intent. We continue to strategize, communicate and work with like-minded trades and other interested parties to manage the development of this and other caveats to the bankruptcy bills that accompanied the garnishment bills. More to come- thanks for the support of all the bankers at MBA Banker Day at the Capitol for their advocacy on this issue!
The Renters Bill of Rights continues to be of a working concept without actual legislation being introduced. However, the push for renter’s rights has been noted in a handful of rallies and promotions over the summer. The MBA continues to meet with housing, rental and rental management trades on strategy to ensure good and affordable rental housing stock while increasing the number rather than reducing stock and incentives for good landlords across the state.
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ECONOMY
Bank Economists: ‘Soft Landing’ Odds Have Improved but Recession Risks Remain
The U.S. economy is likely to dodge a recession despite an expected loss of momentum in economic growth over the next few quarters, according to the latest forecast of ABA’s Economic Advisory Committee, released yesterday. The committee, composed of 14 chief economists from some of North America’s largest banks, sees real economic growth slowing from 2.1% annualized during the first three quarters of 2023 to less than 1% annualized over the following three quarters. Momentum then improves slightly in the latter part of 2024, although the pace of activity remains below potential. View the forecast.
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CREDIT UNIONS
ABA Warns Credit Union Lending Bill Would Negate Existing Safeguards
Legislation to make it easier for credit unions to underwrite large-scale commercial real estate development projects undermines their congressionally mandated mission to serve people of modest means in underserved areas, ABA said last week in a letter to the bill’s sponsors. The Member Business Loan Expansion Act, sponsored by Reps. Vicente Gonzalez (D-Texas) and Brian Fitzpatrick (R-Pa.), would double the current exemption for small loans and expand credit union access to low-cost sources of funds for business loans. Read more.
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PROFESSIONAL DEVELOPMENT
Midwest Trust and Wealth Management Conference
October 11 -13 | Plymouth, MI
The annual Midwest Trust and Wealth Management Conference is a must for wealth management and trust professionals throughout Michigan and our neighboring states. Featuring top-notch speakers and materials, continuing education credit (CTFA, CFP, CPE) and valuable networking opportunities, the event is a do-not-miss event.
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PROFESSIONAL DEVELOPMENT
SSBCI Rollout Webinar Recording
Did you miss the SSBCI Rollout webinar? Click on the link below to learn about the following:
- Collateral Support
- LTV for fixed asset financing
- Increased working capital availability
- Loan Participation
- Speculative cash-flow
- Portfolio or legal lending limits
- Capital Access Program
- Risk mitigation
- Program Updates
- Expanded industry eligibility
- Expanded options for third-party debt refinancing
- Shortened MEDC underwriting and closing timing
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PROFESSIONAL DEVELOPMENT
Commercial Lending Workshops
Commercial Lending Workshop centers on Global Cash Flow construction case using a walk-through of a business tax return (Form 1120-S) and a personal tax return (Form 1040) with multiple forms of income.
Advanced Commercial Lending Workshop centers on quantifying the amount of Working Capital need and determining the real reasons for decreased liquidity. The program uses a multi-faceted commercial lending case to address declining cash flow and developing solutions that work for both the bank and the borrower, guarantors, and other creditors. This program has over an hour dedicated to Commercial Real Estate lending, providing Excel templates to underwrite all CRE property types.
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PROFESSIONAL DEVELOPMENT
Internal Audit School
October 2-3 - Virtual
This three-day course will discuss the establishment and execution of an effective and efficient internal audit program. Attendees will learn the objectives of internal audit, and helpful techniques to reach those objectives. Internal audit should be a value-added function and not just a “check the box” cost center.
This course will teach attendees how to create and maintain a value-added internal audit function.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Are you and your staff stretched between chasing growth opportunities and managing your day-to-day operation?
Bankers Alliance supports both with teams of seasoned experts working together to understand the regulatory landscape and give your teams the guidance you need.
It's no secret that community bankers have partnered with B/A for over ten years—the reason is simple—we’re the largest and the fastest. Compliance Alliance remains the very best solution if you need an operational compliance consultant—we have the tools, the online webinars, and the attentiveness you’ll need. Review Alliance is a top-tier audit group that manages your whole CMS, delivers a steady stream of special projects to conclusion, or guides your annual audit cycles with recommendations. To learn how to put them to work for your bank, contact Jill Verscheure, SVP, MBA Service Corporation here.
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MBA SERVICE CORPORATION ENDORSED PARTNER
Customer Cybersecurity Awareness - Creating a Culture of Security
While most organizations think through the direct risk of cyber threats to their business via cyber attacks, known vulnerabilities, and security flaws, not many organizations recognize the risk posed to their business by their customers. Read more.
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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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NEW Job Alert! Check out the latest job postings at BankTalentHQ, a MBA Service Corporation Endorsed Partner!
Apply today: https://conta.cc/30OAnLF
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Celebrating #MBAMemberMonday! Today, we shine a spotlight on our valued associate member, USDA Rural Development. USDA Rural Development is a federal agency committed to empowering Michigan residents on their journey towards rural prosperity. Discover more about their initiatives: www.rd.usda.gov/mi | |
#FrameOfMindFriday Preventing and managing stress can lower your risk for other conditions like heart disease, obesity, high blood pressure, and depression. https://conta.cc/3Era6VI | |
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