Legislature Has Busy Week - Several Bills of Interest Receive Action

GBA publishes a weekly Legislative Update giving our members the latest information about the legislation we are monitoring on your behalf.  Today's edition covers action in the Legislature this week:

• Speaker Richardson's Tax Plan Moving Through Process

• Foreclosure Bills Introduced - No Action Scheduled So Far

• Senate Passes File Freeze Bill

• Home Inspector Board Proposed

• Motor Vehicle Seizure Bill Reported from Committee

• Original Georgia Fair Lending Act Reintroduce

• Appraisal Bill Introduced

• New Financial Licensee Proposed

• Uniform Investment Act Passes Full Committee

• Kessel Stelling Recognized by Senate

Please contact GBA's Elizabeth Chandler with questions about any of these issues.

Comptroller Supports Broadening Community Reinvestment Act

In a speech to a national affordable housing lender conference, Comptroller of the Currency John C. Dugan called for an amendment to the Community Reinvestment Act regulation to provide CRA consideration for community development investments in middle-income communities that are distressed as a result of mortgage foreclosures and related economic factors affecting the area.  “With this change, we would give favorable CRA consideration for – and encourage – loans, services, and investments in more communities suffering from the consequences of foreclosures,” Mr. Dugan said.  The Comptroller also raised the possibility of broadening CRA to cover many of the same financial services which played a significant role in the subprime crisis. 

Mortgage Satisfaction Litigation Proliferates

A number of our members have reported being the subject of litigation by plaintiffs using an obscure change in the Georgia mortgage satisfaction law from several years ago as the basis for their case.  Currently, a lender has 60 days from the date a borrower pays off a mortgage to send the notice of cancellation or satisfaction to the clerk of superior court to authorize and direct the clerk to cancel the instrument of record.  For many years, there has been a liquidated damages provision in the statute giving the borrower the right to demand a $500 payment if the satisfaction notice is not sent timely.  In a classic “gotcha” kind of lawsuit, nine cases are pending in both state and federal court here in Georgia seeking class action status for claims against lenders for failing to file cancellation notices timely.

Family Medical Leave Act Broadened

The Family Medical Leave Act (FMLA) has been expanded providing for two additional categories of leave, both involving family members of the armed forces. First, spouses, parents, children, or next of kin are allowed up to 26 weeks of leave during a 12-month period to care for recovering military service personnel who develop a serious injury or illness while serving in the armed forces (Caregiver Leave). 

Annual Convention Brochures to be Mailed Next Week

Brochures announcing the 2008 Annual Convention at the magnificent St. Regis, Monarch Beach in Dana Point, California will be mailed in the next week.  “At this outstanding location packed with a great lineup of speakers and plenty of other activities, we know everyone attending will have a wonderful experience,” said GBA Chairman Jim Williams, President and CEO of Citizens Bank & Trust Company in Eastman.

Collections and Recovery Seminar Scheduled

GBA will host is Collections and Recovery seminar on Thursday, March 6, at the Ramada Plaza in Macon.  The registration fee is $195 for members and Gary Moser with Moser, Rose & Cox in Valdosta is the instructor.  Designed for personnel responsible for recovering money or collateral on behalf of the bank, this one-day seminar will provide a comprehensive overview of the fundamental legal principles involved in the collection process. Topics to be discussed include:

• Collateral Documents

• Litigation Process

• Borrowers Defenses

• Judgments

• Levies

• Garnishments

• ALLL Methodology changes

• Sample calculations

• Qualitative and quantitative factor discussion

• Consultation on implementation issues

With questions, please contact GBA’s Courtenay Pope at (404) 420-2015. Please click here to register.

Bank Security Conference Program Agenda Finalized

GBA’s 2007-2008 Security Committee has planned an exciting agenda for this year’s Bank Security Conference scheduled for April 3-4 at the Savannah Riverfront Marriott.  The conference brochure is included with this mailing.  A block of rooms has been reserved at the hotel until March 9.

HR Institute Next Month

Human Resources professionals from across Georgia will gather March 19-21 at the Savannah Riverfront Marriott for GBA’s annual HR Professionals Institute.  In addition to the new topic we told you about recently dealing with the emerging field of computer forensics, those attending will also learn how bank computer systems and the data contained in those systems can create substantial exposure for an organization.  Also discussed will be best practices available to community banks to avoid liabilities associated with email use, internet access, and other day to day tools used by employees. 

Leadership Conference Scheduled for July 13-16

Plans are well under way by the Leadership GBA Executive Committee for another outstanding conference scheduled for July 13-16 at the Ponte Vedra Inn & Club in Ponte Vedra, Florida.  Sponsored by the Leadership Development Section, the annual Leadership Conference is an event not to be missed.  The conference is designed to provide a forum through which younger career bankers from around the state of Georgia can meet and learn from each other and hear presentations from industry experts, regulatory representatives, and professional speakers.

Last Call for GBA's Popular Operations and Technology Conference

One of GBA’s most popular annual conferences is the Operations and Technology Conference.  This year’s conference is scheduled for March 5-6 at the Cobb Galleria Centre in Atlanta.  This year’s topics include emerging technology trends, mobile banking, remote

Back by popular demand, AIB Analyzing Financial Statements will be offered again beginning March 18 for 10 weeks.  This class will be taught by Peter Faser of Security Bank at CornerstoneBank, Atlanta.  Class will meet every Tuesday from 6 p.m.-9 p.m. ending May 20, 2008.

Just a reminder that GBA will offer the following webinars during the weeks of February 25^th and March 3^rd.  Webinars offer the opportunity and convenience of having a seminar at your bank.  All you need is a computer, Internet access and a telephone. 

• Employee Incentive & Motivational Strategies – Feb. 26

• Power of Attorney & Living Trust Documents – Feb. 26

• Basic Cash Flow Analysis – Feb. 28

• Advanced Loan Documentation – March 4

• Lending to Municipalities – March 5

• Implementing the New Identity Theft Red Flags, Part 2 – March 6

Just a reminder that the following AIB online classes begin the week of March 17.  Please register two weeks in advance to secure a seat in the class.  These courses are instructor-facilitated with weekly assignments.  They can be taken from the comfort of your home or the convenience of your office.  All you need is a computer, printer and Internet access.  (Classes with an asterisk * require Microsoft Excel Software.)

• ABA Online Review Course for the CTFA Exam (open enrollment), 12 weeks, $795

• Commercial Lending, 16 weeks, $385

• Financial Accounting*, 16 weeks, $485

• Principles of Banking Accelerated, 10 weeks, $315

• Today's Teller: Developing Basic Skills* (open enrollment), 8 weeks, $295

There is still availability in the following AIB online classes beginning March 10.  Please register as soon as possible to secure a seat in the class.

• Analyzing Financial Statements*, 16 weeks, $485

• Law & Banking:  Applications, 16 weeks, $435

• Managing Interest Rate Risk*, 8 weeks, $745

• Principles of Banking, 16 weeks, $385

Please see the AIB Online Course Schedule for a complete listing or call GBA’s Alison Moreau at (404) 420-2034 with questions.

You’re on Our List; Are We on Yours?

We are always pleased to let your banking colleagues across the state know about the news of your bank, employees and directors.  Please send your news releases to GBA’s Communication Manager, Lydia Thomas. 

The ABA-sponsored and GBA-endorsed insurance program this week began distributing $5 million in underwriting profits to insured member banks.  Checks were distributed during the association's National Conference for Community Bankers, and additional checks will be mailed to participating member banks between now and April 15.  Underwritten by Progressive Casualty Insurance Co., the program provides community banks with directors and officers liability, financial institution bond, Internet banking liability,

Welcome New Participant

The GBA Insurance Trust, Inc. Board of Directors welcomes to the Trust Foundation National Bank, I.O., Marietta, Michael Henderson, CEO.  This company joins more than 290 community banks and associate members in this unmatched member benefit.

The Board is overseen by a group of bank executives who understand the need to provide the best in employee benefits.  Please call GBA’s Susan Kelley at (404) 420-2017 for details.

GBA Job Bank

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