Be
Our Expert
Volunteer for a GBA Committee
One of GBA's greatest assets is the more than 225
bankers who volunteer each year to serve on a committee or
board. Our volunteers are experts and leaders who help GBA
and its members better prepare for the rapidly changing political,
regulatory, and educational needs of today's banking
environment. Jim Edwards, GBA's Chairman-elect and Chief
Executive Officer of United Bank, Griffin, is starting
this year's committee appointment process by looking for bankers
who want to join their colleagues from across Georgia in service
to their industry.
Find out more about volunteering with GBA
here...
Legislative Update
Legislature Getting the Job
Done
The Georgia General Assembly is wasting no time taking on
significant issues this year, especially those GBA has been
following. This week we saw final action on our priority bill
that will allow bank staff to respond to certain garnishments
instead of having a lawyer do that. The Senate passed a bill
moving state bankruptcy exemptions closer to federal exemptions
and passed a bill related to how homeowners associations (HOAs)
are governed, but without GBA-opposed language creating a super
lien for past due HOA dues following a foreclosure.
Another priority bill was introduced this week.
Click here for more about that and all the weekly news from the
Gold Dome...
Exam Appeals Bill Front and
Center in Congress
A
hearing in the U.S. House Financial
Institutions Subcommittee this week focused on the
Financial Institutions Examination Fairness and Reform Act (H.R.
3461) we've been telling you about. Regulators testified
against the bill during the hearing, citing concerns about the
standards and appeals provisions and how those would muddle
their ability to require corrective actions to keep banks from
being closed.
You need to read the retort from Georgia's Lynn Westmoreland,
a co-sponsor of the bill, right here...
GBA to Attend FDIC's Future of
Community Banking Conference
The FDIC
will host a national conference on "The Future of Community
Banking" Feb. 16 to explore the unique role community
banks play in the country's economy and the challenges and
opportunities this segment of the banking industry faces. Ben
Bernanke, Thomas Curry and Martin Gruenberg are
scheduled to speak. GBA Chairman Rick Whaley, President &
CEO, The Citizens Bank of Americus, and GBA President & CEO
Joe Brannen have been invited to attend and will be there.
We'll let you know what they learn.
Get more details about
FDIC's Community Bank Conference here...
Obama
Announces New Housing Plan
President Obama
delivered details Wednesday of a new package of housing-relief
efforts he's urging Congress to pass. If enacted, which few
believe will happen, the plans would allow all borrowers who are
underwater on their homes to refinance at lower rates. Obama's
plan includes a $5-$10 billion tax to be levied against large
banks to pay for the program.
Learn more about the
President's refi plan here...
CFPB
Update
First Rule Issued, Credit Card
Complaints and Ability-to-Repay on Agenda
It's
been a busy couple of weeks for the Consumer Financial
Protection Bureau. The bureau has issued its
first official rule, inherited from the
Federal Reserve, that covers new disclosure requirements for
remittance transfers to foreign countries. While mostly
affecting wire service companies and nonbanks, there will be a
significant compliance burden on banks.
The bureau estimated the rule would
create an ongoing compliance burden of about 61,000 hours
annually for each of the 155 large banks and credit unions
directly supervised by the bureau. The rules would apply to all
institutions.
Read more about CFPB's first rule
here...
Access to Capital Study from GAO Carries Curious Results
The General Accounting Office (GAO) recently issued a study that
includes a survey about access to capital by smaller financial
institutions. The survey has some real head-scratching
conclusions to us. Of particular note, 65 percent of the banks
under $10 billion that responded to the survey have not raised
capital since 2008, and 88 percent of those did not need or want
to raise more regulatory capital. It also said that only three
percent of those that have tried to raise capital since Jan. 1,
2008, had not been able to do so.
See more here about the
GAO
study...
CPP Investment and Returns
Reviewed
We're
all still called on from time to time to help people understand
the investments in banks made by the government through the
Capital Purchase Program (CPP). We saw some interesting
statistics in a recent report and thought we'd share those with
you should you get similar questions. Under the CPP, Treasury
invested a total of $204.9 billion of TARP funds in 707
financial institutions. Investments in 26 Georgia institutions
totaled $6.2 billion. Through November, those institutions have
paid about $770 million in dividends, three have fully repaid
the funds ($4.6 billion) and Treasury has earned an additional
$31.3 million through the sale of warrants and preferred stock
in those institutions. Depending on who is reporting, the CPP
program has earned between $7-$17 billion for Treasury.
See
more CPP and TARP figures here...
GBA
Retirement Plans
Fourth Quarter Results Show an
Improved Market
Fourth quarter 2011 was a significant improvement
for investors in the stock market from the prior quarter. Though
2011 was a volatile year in the market, those who maintain
a long-term investment philosophy tend to have the best results
when investing for retirement. For GBA Retirement plan
participants, the investment returns of both investment
managers,
Reliance Trust Company
and
Atlanta Capital Management,
performed well against major market indexes and other
competitive funds and models.
GBA Retirement plan participants should click here to read more
about their plan returns...
February
GBAIT Health Focus
Love your Heart with New
Heart-Healthy Habits
Four
out of every 10 deaths in the United States are related to heart
disease. It's the No. 1 cause of death for men and women.
We've got links to an
educational article about
high blood pressure and a
good resource site
from the American Heart Association. These are among the
many GBA Insurance Trust resources also available through our
online
GBA Insurance Trust Desktop Doctor Health and Wellness Portal
that you can read more about here....
Key GBA Event
Reminders
Join the IT Exam Best Practice
Panel Discussion at GBA's Operations and Technology Conference
As a highlight of the two-day conference, this
session will present trends from recent examinations and cover
methods for staying ahead of the exam curve.
Get more details here and register...
Appraisal and Evaluation Seminar
Feb. 8
A panel of experts
will guide you through appraisal independence requirements and
offer practical compliance strategies for appraisals.
Get more details here and register......
How to Ensure Top-Notch Internal Audits Feb. 16
Basic concepts related to community bank internal controls and
internal audit techniques.
Get more details here and register......
Newsmakers
Read about all the Georgia bankers making news this week...
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
David Oliver and Bogan Brannen.
