Legislature Passes Crossover Day - Several Bills of Interest Receive Action

The General Assembly passed the 30th legislative day of their session this week.  The significance of that day is that any bill which had not passed either the House or Senate is technically dead for the session.  We say "technically" because a bill could always get tacked onto legislation that is moving, so just about everything is still in play.  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's GREAT Plan Revived/Passes House

• Senate Passes Two Foreclosure Bills/Several Others Receive No Action

• Mortgage Satisfaction Bill Passes

• Lottery Annuity Assignments Authorization Bill Passes

Please contact GBA's Elizabeth Chandler at (404) 420-2027 with questions about any of these issues.

Credit Union Hearing Held in DC Last Week

The House Financial Services Committee held a hearing last week on legislation sponsored for the benefit of Credit Unions.  The misnamed Credit Union Regulatory Improvements Act, H.R. 1537, is certainly much more than a regulatory relief bill.  In fact, the legislation would allow credit unions to stray even further from their mission of serving low and moderate income individuals; expand credit unions’ ability to offer multi-million-dollar tax-subsidized loans to businesses and corporations, which was not Congress’ intent when it granted a taxpayer subsidy to these institutions; and would lower capital standards for credit unions, thus raising safety and soundness concerns.

Sen. Dole Introduces Sarbanes-Oxley Relief Legislation

Sen. Elizabeth Dole (R-NC) has introduced the Regulatory Relief and Fairness Act, S. 2703, that would allow qualified insured depository institutions to voluntarily opt out of preparing Section 302 certifications and Section 404 internal control management reports and auditor attestations required by the Sarbanes-Oxley Act. Dole said the costs of these requirements, while well intentioned, outweigh the benefits. GBA past-chairman, Dan Blanton, CEO of Georgia Bank and Trust Company in Augusta and Vice Chair of the American Bankers Association Community Bankers Council applauded the introduction of this legislation.  “These well-meaning regulations

The program will also include a summarization of the critical challenges and issues facing banks as well as a roadmap for addressing these issues in an orderly fashion.  Some of the topics to be discussed include:

• Retaining well-capitalized status

• Reviving compressed net interest margins

• Finding reasonable funding sources for adequate liquidity

• Dealing with significant amounts of foreclosed assets

• Handling impairment issues when stock values decline

• Maintaining balance between regulators, shareholders and other stakeholders 

With questions, please call Courtenay Pope at (404) 420-2015 or Susie McGehee at (404) 420-2010.  Please click here to register.

Annual Convention Rooms and Flights Going Quickly

Rooms for GBA’s 2008 Annual Convention are going quickly at the St. Regis, Monarch Beach in the Dana Point, California.  If you have not already done so, please make your reservations by calling the hotel directly at (800) 722-1543.  Be sure to let them know you are with the Georgia Bankers Association Annual Convention group to receive the discounted room rate.  For air travel information and reservations, please contact the Group Air Department of Age of Travel at (800) 578-7620 or (404) 591-7110.

Please click here
to register.

Just a reminder that GBA will offer the following webinars during the weeks of March 17^th and March 24^th.   

• Compliance Issues for Commercial Lending – March 18

• Opening Deposit Accounts I: Business Accounts – March 18

• The Art of Asking Questions: Your Key to Bank & Credit Union Sales, Part 1 – March 19

• Identity Theft and Data Security – March 25

• The Art of Asking Questions: Your Key to Bank & Credit Union Sales, Part 2 – March 26

• Detecting "Counterfeit" Scams: Cashier Checks, Online-Chex, Money Grams & More – March 27

• Lending to Self-Employed Individuals, Small Business Owners, Executives & Professionals – March 28

Complete details about the webinar, topics being covered and information about the presenter can be found on GBA’s Calendar of Events.  With questions, please call GBA’s Courtenay Pope at (404) 420-2015.

• 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.

GBA will host its Analyzing Personal Financial Statements seminar on Tuesday, April 1 at the Ramada Plaza in Macon.  The registration fee is $195 and Mike Allen, President & CEO of Georgia Trust Bank in Buford, is the instructor.  Designed for credit analysts, branch managers, consumer lenders and entry level commercial lenders, this one day seminar will cover step-by-step the process of analyzing personal financial statements and tax returns. 

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

• Identifying the borrower’s ability to repay your loan from a cash flow analysis

• Identifying  new cross-selling opportunities

• Spotting fraudulent tax returns

• Developing a pattern of logical, analytical thinking

• Examining a personal tax return for hidden information

• Developing an adjusted net worth

• Making valid credit decisions based on careful analysis

• Identifying if income is continuing, verifiable, and recurrent

GBA will host its Loan Documentation for Lenders seminar on Wednesday, April 16 at the Ramada Plaza in Macon.  The registration fee is $195 for members and Thompson Kurrie, Jr. and Harrison Coleman, partners with Coleman Talley, LLP in Valdosta and Atlanta are the instructors.  Designed for loan officers, loan administrators and credit administrators at every level, this essential one-day seminar will cover the basics of loan documentation and matters to consider before and after the loan closing, including the condition of the collateral, the condition of the title and the condition of the borrowers and guarantors. 

With questions, please contact GBA’s Courtenay Pope at (404) 420-2010.  Please click here to register.

Some of the topics to cover include: 

• The Loan Closing Checklist: what it will and will not do

  Condition of the Collateral: due diligence

• Condition of the Title: title commitments and endorsements

• Condition of the Borrowers and Guarantors: organizational documents, UCC searches, financial statements

• Loan Documentation: loan commitment letters, loan agreements, promissory notes, guaranties, collateral assignments, Letters of Credit, Credit Memos

Mark Your Calendar for Next Compliance Peer Group Meeting

The next Compliance Peer Group is scheduled for April 17 at the Idle Hour Country Club in Macon.  Roger Widdifield, Territorial Manager for the Region IV location of the National Flood Insurance Program, will join us to discuss the

Just a reminder that the following AIB online classes begin the week of April 7.  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

• Analyzing Financial Statements*, 16 weeks, $485

• Principles of Banking, 16 weeks, $385

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

There is still availability in the following AIB Online classes beginning March 31.  Please register as soon as possible to secure a seat in the class.

• Banking Today, 5 weeks, $295

• Understanding Bank Performance, 5 weeks, $295

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

Some of the Services Available Through GBA Services, Inc.

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Georgia Bankers Association • 50 Hurt Plaza, Suite 1050, Atlanta, GA 30303 • Phone 404.522.1501 • Fax 404.522.9848 • www.gabankers.com