Take Advantage of Top-Notch Compensation and Benefits Consulting

Bank compensation is a big issue. If you're evaluating your compensation policies, consider touching base with the Holmes-Shaw Agency, a GBA Strategic Partner. Holmes Shaw has entered into a partnership with Comprehensive Corporate Strategies (CCS) to provide a full array of employee benefit solutions for attracting and retaining the best employees and executives. More about compensation and benefits consulting...
 

REO Insurance - Get Great Rates with Online Program

The expense to insure foreclosed properties and time spent reporting them has grown significantly during the past year. Most banks are paying a much higher premium for this coverage than they should and are using out-of-date reporting systems. Learn how you may be able to save 25 percent or more with GBA Strategic Partner McEver & Tribble, Inc. More about REO insurance...
 

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Legislative Update:
General Assembly Passes Halfway Mark of Session
The Georgia General Assembly passed the mid-point of its 40-day session this week. All eyes are on the budget process as many legislators are working nonstop to find ways to meet the revenue shortfalls. We told you last week that the Governor signed our priority bill, HB 926. The new law helps some state-chartered banks renew loans that would have been above their legal lending limit because of capital erosion. Banking Commissioner Rob Braswell sent an e-mail to state chartered banks telling them of the immediate applicability of the change. Because of the straight-forward language in the bill, we understand no further guidance will be forthcoming other than general information in department publications. Check out our full legislative update for news about a trust code revision, an appraisal management company bill and a full list of all the bills we're tracking and working on. More about the Legislative Session...

GBA in the News:
Lending Limit Bill and Check Fraud Coverage
Once again, GBA was the go-to resource for journalists covering important banking topics this week. President and CEO Joe Brannen was quoted in a Wall Street Journal story about Georgia's Legal Lending Limit legislation passed last week. "The key messages that the bill brings Georgia's laws in line with those governing national banks, prevents good customers from having to look elsewhere for credit and prevents banks from having to sever ties with performing borrowers were all prominent," Brannen said about the story. "Unfortunately, the headline and lead mischaracterized the intent of the legislation..." More about the lending limit bill and check fraud...

Banks Now Subject to HIPAA Info. Breach Rules
Many banks are now subject to certain privacy and information security rules covered by the Health Insurance Portability and Accountability Act (HIPAA). Part of last year's stimulus bill extended the privacy and security provisions to business associates of covered entities. Many banks and financial institutions fall into this category if they provide medical banking services to healthcare providers or other HIPAA-covered entities that require the bank to handle personal health information. More about HIPAA security breach rules...

News from the Bench:

Federal Court Rules on Loan Participation Case
Loan participants will find interesting a recent federal district court ruling out of Macon. On Feb. 9 the court ruled on a disputed participation agreement case in which it found the lead lender to have breached the agreement and ordered the lender to repurchase an interest from a participating bank at the original purchase price of $1.9 million plus interest. More about the participation case...

Customer Satisfaction for Banks Holds Steady
New data from the American Customer Satisfaction Index (ACSI) shows customer satisfaction with banks continued to be stable in 2009 despite a bad economy and a drumbeat of negative media coverage of the industry. Just as it did in 2008, the banking industry received a score of 75 out of 100.  Smaller banks, combining regional and community banks, maintained an average score of 80, while credit unions held their score of 84. More about the quarterly ACSI survey...

Teach Children to Save Day is April 27
Many Americans have traded in their spending habits and are making saving for a rainy day a top priority. To help ensure this trend continues, the ABA Education Foundation and Leadership GBA will take steps to lead kids down the path to a positive financial future. On Tuesday, April 27, bankers nationwide will use their expertise to inspire students to become life‐long savers on National Teach Children to Save Day. "It's so important to start teaching children personal finance skills at an early age," said Leadership GBA President Kelly Yielding with McIntosh State Bank in Jackson. More about Teach Children to Save Day...

Make Sure You Aren't Missing Out!
You've probably noticed some recent changes to the look of GBA publications. We are certain you will find the layout more reader-friendly and handy for accessing specific articles you're interested in. To ensure that you are receiving everything we provide, take a moment to check that the Georgia Bankers Association is on the safe sender list for e-mails. Your e-mail program should have an option for adding the @gabankers.com domain as a safe sender. And you can always check with your IT specialist to adjust the permission settings if you are finding our transmissions anywhere other than your inbox. The GBA is the best resource for important industry information in Georgia and we want you to be fully connected. With questions for us, contact Lydia Thomas by e-mail.

Newsmakers More people news...
 

Read All About It -- Send Us Your News
Please remember to include the Georgia Bankers Association on the list of recipients for announcements about promotions, new employees and special recognition your bank has received. We want to share your news with your colleagues across the state. Please forward your announcements and photos to GBA's Lydia Thomas.

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