July 8, 2005

Leadership Conference Begins Next Weekend
Over 200 Georgia bankers and their families will be gathering next weekend on Hilton Head Island for the annual Leadership Conference.  Sponsored by GBA’s Leadership Development Section, the conference is a time for the banking industry’s emerging leaders to gather to discuss current events, share in peer exchanges and establish networking opportunities for the future.  Since the Hilton Inn and Resort is sold out, a number of bankers are staying at the adjacent Marriott which is another excellent choice.  It’s not too late to register, so contact GBA’s Susie McGehee at (404) 420-2010 with questions.

Emergency Contact Numbers
The FBI has requested Georgia Bankers Association obtain emergency contact information for each bank and each location in the event of an emergency.  This information will not be shared nor used by GBA staff.  The information collected will be forwarded directly to the FBI and Homeland Security.  Please forward emergency contact information to GBA’s Renee Valdez for forwarding to the two agencies.  Information should be submitted for each branch.  The FBI is requesting:

Bank name:
Physical location:
City:                 State:     Zip:
Emergency Contact:  
Phone:
After hours phone:
Cell Phone:
Email:
Local Police Contact (if applicable):

Data Security Bills Get Attention on Capitol Hill
The latest in a series of bills addressing how private companies handle sensitive personal information has been introduced by the leading Democrats on the House Financial Services Committee.  Another bill is being circulated among the Republicans with the principal difference being that the Democrat’s bill would allow states to adopt stricter security and notification requirements.  Other bills are pending in the House and Senate with several different committees claiming jurisdiction.  The bills generally would require enhanced security measures for companies that hold personal consumer information and set guidelines for when consumers and regulators must be notified of security breaches.  It is too early to tell which approach or which bills will begin moving, but it will be important for the banking industry to be involved in the discussions.  GBA has already met with each member of the Georgia Congressional Delegation to discuss our support for the approach the General Assembly took when they passed legislation earlier this year, S.B. 230.  Recognizing the banking industry already had regulatory guidelines in place, the state legislation did not include banks in the new legislation, only those companies that traffic in the sale of data.

FASB Backs Down on Proposal
The Financial Accounting Standards Board (FASB) announced it was dropping its proposal regarding debt securities that are other-than-temporarily impaired (FASB Staff Position 03-1-a).  GBA had joined the American Bankers Association in expressing extreme concern about the proposal and this is indeed good news.  We understand the FASB will issue a report soon that simply codifies existing accounting guidance.  GBA had taken the position that the proposal would hamper banks’ ability to manage risks, and apparently FASB has agreed.  Please call GBA’s Elizabeth Chandler at (404) 420-2027 with questions.

Action Needed on Credit Unions’ Bill
H.R. 2317, the Credit Union Regulatory Improvements Act (CURIA) has again been introduced.  The GBA has requested the House members within the Georgia congressional delegation not to cosponsor this bill, but we need your help in giving our congressmen plenty of encouragement to stand with the banking industry on this important issue.  We are asking each bank CEO and the bank’s employees to access the ABA Action Alert which will guide you through very few, quick steps for a letter to be generated to your congressman asking for support of our industry.  The number of letters generated is critical and this is a simple way for all bank employees to be involved.  The GBA plans to further develop meaningful grassroots tools to make banker involvement easier and having every employee in each bank to utilize this quick system is an important step.  Please participate today by clicking on the Action Alert and following the simple prompts.  By way of background, the bill would expand credit union commercial lending authority, while simultaneously undercutting the capital regulation at federally insured credit unions.  While masked as a regulatory burden relief bill, the legislation would only further fuel the rapid growth within an ever-increasing segment of the credit union industry and thus increase the revenue shielded from taxation.  Should you have any questions, call GBA’s Elizabeth Chandler at the GBA at (404) 420-2027.

Reminder:  Banks Required to Post No Smoking Notices
Georgia's new Smokefree Air Act of 2005 went into effect July 1 and prohibits, with a few specific exceptions, smoking in all enclosed areas that any employee or member of the public would have occasion to occupy, such as common work areas, classrooms, private offices, meeting rooms, cafeterias, employee lounges, restrooms, stairwells and hallways. While the new law permits a private employer to designate an employee smoking area within an enclosed area and does not regulate smoking outdoors, it also permits an employer or other person in control of the premises to declare the entire premises nonsmoking. Private employers, including banks, are impacted in four ways:  (1) employee notification; (2) smoking area requirements; (3) ashtray removal; and (4) sign posting.  If you have not yet decided how to word the signage you will be posting, GBA’s Strategic Partner, Steve Greene with Helms and Greene, LLC, developed model language for you to use.  Click here to access that model language.  Please call GBA’s Renee Valdez at (404) 420-2036 with questions or if you need to purchase "no smoking" signs.
 

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