December 1, 2011 Issue 23

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  CBA Responds to AJC "Truth-O-Meter” Article
  
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  Massachusetts Democratic Rep. Barney Frank to Retire
  
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  Waters Seen as Early Front-Runner to Succeed Frank
  
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  10 Years of Success Stories from Money Smart
  
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  FDIC Institutions Report $35.3B 3Q Profit 
  
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  OCC Releases Status Report on Fixing Deficient Foreclosure Practices 
  
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  Marranca Urges Support for Reg-Relief Bill in Testimony
  
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  Communities First Act Earns Growing Support
  
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  FDIC Research Symposium Examined Consumer Financial Behavior in Difficult Times
  
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  Major Change in the Delivery of Projected Social Security Benefits Information
  
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  Black Friday Retail Sales
  
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  Fine: Article Exposes Enforcement Double Standard
  
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  Banking Trade Groups featured in American Banker
  
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  Consumer Financial Protection Bureau Seeks Input on Streamlining Inherited Regulations
  

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  Powerful, Unified Voice at CBA Day at the Capitol
  
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  Minnie Pitts Voted Best Teller and First State Bank named Best Bank in Jefferson County
  
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  Community Bank Service Award Deadline
  
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  "Like” the CBA on Facebook
  

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  4^thAnnual Bank Directors' & Executive Management Conference - December 5 - Atlanta 
  
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  4^th Quarter Compliance Program - Five Convenient Locations
  
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  Community Banking - Changing Environment, Changing Strategies - December 13 - Atlanta
  
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  Group of Asset Servicing Professionals (GRASP) Luncheon Forum - January 12 - Atlanta
  
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  Consumer Lending School - February 27 - March 2 - Atlanta
  

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Longtime Democratic Rep. Barney Frank of Massachusetts will announce on Monday that he will not seek a 17^th term in Congress next year, according to a statement from his office. Frank will make his announcement at the Newton City Hall in the afternoon. The Massachusetts Democrat, first elected in 1980, serves as the ranking Democrat on the House Financial Services Committee. During a four-year stint as chairman of the panel, he helped shepherd the Dodd-Frank overhaul of the nation's financial regulations. He won a closer-than-expected re-election bid in 2010, taking 53 percent of the vote, his lowest total since first winning his Newton- and Tauton-based district in 1980.

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Waters Seen as Early Front-Runner to Succeed Frank
According to American Banker, within minutes of Rep. Barney Frank's surprise announcement that he planned to retire next year, industry insiders and political analysts were focused on who would take his place as lead Democrat on the House Financial Services Committee. Read more.

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As the FDIC prepares to celebrate the 10^th anniversary of our financial education program, we asked 10 long-time Money Smart partners to share with us why and how they continue to reach out to the underserved communities they serve. Also, Luke W. Reynolds, Chief of the FDIC's Outreach and Program Development Section, offers 10 lessons learned from the past 10 years to take into consideration as the Money Smart program builds on its second decade. Read the stories and tips.

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FDIC Institutions Report $35.3B 3Q Profit

FDIC-insured institutions reported an aggregate profit of $35.3 billion in the third quarter, an $11.5 billion improvement from a year ago and the ninth consecutive year-over-year increase. Lower provisions for loan losses were again responsible for most of the year-over-year improvement, with third-quarter loss provisions totaling $18.6 billion. Read more.

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OCC Releases Status Report on Fixing Deficient Foreclosure Practices

The Office of the Comptroller of the Currency (OCC) issued a report on the actions by 12 national bank and federal savings association mortgage servicers to comply with consent orders issued in April 2011 to correct deficient and unsafe or unsound foreclosure practices. The report, "Interim Status Report: Foreclosure-Related Consent Orders,” summarizes progress on activities related to the independent foreclosure review announced November 1, 2011, as well as other activities to enhance mortgage servicing operations, strengthen oversight of third-party service providers and activities related to Mortgage Electronic Registration Systems (MERS), improve management information systems, assess and manage risk, and ensure compliance with applicable laws and regulations. Read more.

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Marranca Urges Support for Reg-Relief Bill in Testimony

Independent Community Bankers of America (ICBA) Chairman Sal Marranca urged members of Congress to support ICBA-advocated legislation to provide regulatory and tax relief to community banks. Testifying before the House Financial Services Subcommittees on Capital Markets and Financial Institutions, Marranca said the Communities First Act (H.R. 1697) would help community banks boost the economy. Read more.

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Communities First Act Earns Growing Support

The ICBA-advocated Communities First Act (H.R. 1697) enjoyed widespread support at this week’s congressional hearing on the legislation. In addition to ICBA Chairman Sal Marranca’s testimony advocating the measure, other witnesses and members of Congress expressed their support for the ICBA-backed legislation. Read more.

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FDIC Research Symposium Examined Consumer Financial Behavior in Difficult Times

Financial education researchers and others may be interested in reviewing papers and presentations on consumer finance topics from the FDIC's Consumer Research Symposium entitled "Financial Behavior in Turbulent Times," which was held on September 15, 2011. Panels focused on a series of papers centering on two major themes: "Lessons and Limits from Behavioral Economics" and "Economic Decisions of Financially Constrained Households." Read more.

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Major Change in the Delivery of Projected Social Security Benefits Information

Traditionally, financial educators have encouraged consumers to carefully review their annual statement of projected earnings and other benefits from the U.S. Social Security Administration (SSA), for financial planning and to look for discrepancies that could be signs of identity theft or other fraud. However, to save money as part of budget-related cutbacks, the SSA has announced that it has suspended these mailings. Instead, consumers should use the online Retirement Estimator at www.ssa.gov/estimator. Because the SSA is also phasing out paper checks by 2013, financial educators may wish to suggest that students who receive federal benefits should consider signing up for direct deposit into an affordable bank account. For more details, see the SSA's press release.

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Black Friday Retail Sales

According to ShopperTrak, sales on Black Friday were 6.6% above last year. According to the National Retail Federation, sales for the 4-day weekend put in a more impressive growth rate of 16.6% year-over-year. Consumers spent an average of $398.62, up 9.1% from last year. Online sales had a 26% growth from 2010 and accounted for approximately 38% of total sales.

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Fine: Article Exposes Enforcement Double Standard

A recent New York Times article exposes the double standard related to enforcement actions between community banks and too-big-to-fail institutions, ICBA President and CEO Cam Fine wrote in his latest blog post. The article finds that nearly all of the largest Wall Street financial firms have repeatedly settled fraud cases by promising to never again violate the antifraud laws, only to do so over and over again.

"Any community banker or director reading the article should be outraged,” Fine wrote. "What is that all about? Certainly not equal justice, I will guarantee you that.” Read Finer Points.

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A recent article on banking trade groups in American Banker noted Independent Community Bankers of America (ICBA) as the only national trade group that exclusively represents the interests of community banks. The article discusses how the numerous associations representing the big banks are often conflicted and divided. To read the entire article, click here. 

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Consumer Financial Protection Bureau Seeks Input on Streamlining Inherited Regulations

The Consumer Financial Protection Bureau (CFPB) today announced that it is seeking public input on ways to streamline the regulations under more than a dozen consumer financial laws that the agency inherited from seven different federal agencies under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Read more. 

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Powerful, Unified Voice at CBA Day at the Capitol

Wednesday, January 25, 2012 - Atlanta

The Community Bankers Association of Georgia’s (CBA) Day at the Capitol allows you the opportunity to meet with your legislators on a personal basis and discuss important banking issues which are affecting you and your bank. Sure you can always email or call your local legislator, but how often do you get to meet with them face-to-face? This is an excellent way to show the legislators how Georgia community bankers stand together with one powerful and unified voice. You are invited to make a commitment to send several representatives from your organization to ensure community bankers are able to have an impact on the 2012 Legislative session. The CBA Day at the Capitol will be held Wednesday, January 25, 2012, at the Georgia State Capitol and Georgia Railroad Freight Depot. This is an important event you will not want to miss. The more bankers attend, the stronger your voice will be. Your invitation will be arriving soon. Please complete the registration portion of the invitation and return it to the CBA office, or you may also register online by clicking here. Feel free to call the Association office by dialing (770) 541-4490 / (800) 648-8215 and speak with a CBA team member.

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It’s not too late to nominate your bank for the 2012 National Community Bank Service Awards from the Independent Community Bankers of America (ICBA). Every year, ICBA honors community banks and their employees who have gone above and beyond to improve their communities through their commitment of time and resources. If you are a community bank with a community service or volunteer program, no matter how big or small, ICBA wants to hear from you. Describe your bank’s program and how it positively impacts your community and the people involved. Help ICBA recognize your commitment to strengthening communities across the nation.

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 Become a fan of the CBA’s Facebook page for Association updates, discussions, networking, and more. Click here to "Like” us. CBA looks forward to sharing more "Facebook time” with you!

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4^th Annual Bank Directors' & Executive Management Conference

Monday, December 5, 2011
InterContinental Hotel Buckhead, Atlanta

It’s not too late to register for this Conference! This year's Conference will focus on the theme, "Building a Road for a Better Tomorrow,” and will show you ways to build a better board, manage emerging director insurance and liability issues, understand the Board's involvement in the policy setting, risk management, and compliance issues involving the investment portfolio. And, experts give you countless new ideas and strategies to lead your board and your organization through the difficulties of the past and down the road to a brighter future.

Featured speakers are Philip Smith, President and Jeff Gerrish, Chairman of Gerrish McCreary Smith Consultants & Attorneys; Jim Reber, President & CEO, ICBA Securities; Jim McAlpin, Partner, Bryan Cave LLP; and, Mark Kanaly, Partner, Alston + Bird LLP. And, CEOs & Bank Directors from across the state have been scheduled to participate in an engaging panel discussion regarding lessons learned during the financial crisis. Click here to review the brochure. Click here to register.

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The past year has confronted financial institutions with an unprecedented array of regulatory changes and developments with more still to come. Navigating these changes while implementing them to your institution's best advantage has never been more important. This one-day Compliance Update program provides the experienced compliance manager with a summary and explanation of regulatory compliance activity occurring during this past year, as well as a review of current "hot topics". The program analyzes the changes and offers guidance necessary to incorporate them into your institution. It is designed for the compliance professional that has a solid understanding of the basics, but needs to stay current on the most recent compliance issues. This program also provides an opportunity to discuss emerging trends with other compliance professionals. To register, please click the location below you wish to attend.