About the GBA
I Professional Development I
Government Relations I
Services
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October 28, 2005 |
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Comptroller
Speaks Out on Credit Risk In a speech before an OCC Credit Risk Conference in Atlanta this week, Comptroller of the Currency John Dugan highlighted his concerns with commercial real estate and creative mortgage product risks. Speaking to examiners, the Comptroller said, “One of our primary goals is to ensure that no banker wakes up to discover that there is more commercial real estate credit on its books – or any other asset, for that matter – than the bank can safely handle. Our job is to help prevent such portfolio imbalances by bringing them to the attention of bankers as they develop, and to make certain that, once in place, concentrations receive the appropriate degree of management oversight…I know you will carry out your responsibilities with balance, discretion, and good judgment.” OCC-chartered bankers should read the Comptroller’s speech, so click here for the full text. Credit Unions Will Have to Defend Tax Exemption The House Ways and Means Committee has scheduled an oversight hearing on credit union tax exemption for Nov. 3. The committee has been reviewing the tax exempt status of a number of industry sectors and this hearing will begin to shed new light on whether credit unions should maintain their current status. Committee Chairman Bill Thomas (R–CA) stated, "When credit unions were granted their tax exempt status, they provided an important benefit to people of modest means.  Credit
unions have been statutorily tax-exempt for almost 70 years now,
and it is important that Congress understand whether there is a
strong justification for the tax exemption. Congress has an
obligation to ask questions to ensure that the country is
receiving something in exchange for the benefit of tax
exemption." In other credit union news, the
House Financial Services Committee has been pressured to
add credit union expansion language (H.R. 2317) to the bank
regulatory relief bill (H.R. 3505). The regulatory relief bill
was scheduled for markup this week, but was pulled from the
calendar. Time is of the essence for our members to write
letters to your member of Congress opposing the credit unions’
efforts. Click here to send your letter today. Below is the
chart showing how many new letters were written just last week –
we still have a long way to go to reach our goal of 2,990
letters. If you watched the
video we produced explaining the issue and showing the
letter-writing process, you will remember the ending statement:
If you don’t, who will?
Deposit Insurance Reform Passes Hurdle
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. With questions, please call GBA’s
Fran Williams at (404) 420-2015.
2006 Holiday Decals Selling Fast The 2006 Holiday Decals have arrived. Those on our standing order list should have received your order. If you are not on our standing order list and would like to receive a set, please call quickly; we have sold out over the last 3 years. The window decals not only provide a professional appearance but also contain the 10 holiday closings recognized by the Federal Reserve Bank in accordance with FDIC rules. To order, please call GBA’s Kenyetta Parks at (404) 420-2035. We will miss… Our sympathies to the family and banking colleagues of Sam C. Smith, President and CEO of Century Bank of Bartow County, Cartersville, who died this week after a brief illness. Congratulations to… Jim Blanchard, Chairman of Synovus Financial Corp., Columbus, has been elected chairman of the Financial Services Roundtable. |
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www.gabankers.com |