The FHLBNY enables local lenders to extend affordable credit to their communities. Thanks to the Federal Home Loan Bank System, communities across the country have access to more affordable housing, small business, and community development programs.
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Check them out today!
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Reminder:
Community Bankers Forum
Monday, January 23, 2012
9:30a-12:30p
One State Street
New York, NY 10004 |
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CONTEST!
Submit name ideas for our new magazine (out in July) and you could WIN a REGISTRATION FOR CONVENTION 2012!!!
E-mail us ideas before January 15th! |
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The new year is bright with new ideas.
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Send your newsletter suggestions today!
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Inside IBANYS
January 4, 2012
Happy New Year!
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| Governor Cuomo delivers the 2012 State of the State Address
Governor Andrew M. Cuomo delivered his 2012 State of the State Address in which he outlined a comprehensive agenda aimed at creating new economic development programs which will invest billions of dollars in key public-private sector partnerships to rebuilding infrastructure, create thousands of new jobs, reorganize state government, and strengthen New York's legacy as the progressive capital of the nation.
IBANYS looks forward to working with Governor Cuomo and the members of the state legislature to improve the manner in which community banks do business in New York State. The speech was light on banking issues and financial regulation however, it did include a piece on foreclosure prevention assistance through the creation of a Foreclosure Relief Unit. Governor Cuomo announced that the Department of Financial Services will create a Foreclosure Relief Unit to provide counseling and mediation services to help New Yorkers stay in their homes.
The following is a brief list of some of the highlights in the State of the State Address:
- New York Will Build the Largest Convention Center in the Nation at the Aqueduct Race Track venue in New York City. The 3.8 million square foot convention center would accommodate the nation's largest events, drive demand for hotel rooms and restaurant meals, and create new tourism revenues. The project would be a $4 billion private investment that is estimated to generate tens of thousands of jobs and create new economic activity throughout the state.
- $1 Billion Economic Development Package for Buffalo: Buffalo is the third poorest city in the nation with 28% of its residents living in poverty and chronically high unemployment. To combat this, the Governor announced that New York State will offer national and global industries up to $1 billion in multi-year economic development incentives to come to Buffalo.
- A Second Round of Regional Economic Development Awards: Building on the success of the Regional Economic Development Councils, Governor Cuomo announced that New York will keep the momentum going with a $200 million second competitive round of regional economic development awards in 2012.
- A Comprehensive Approach to Casino Gaming: Recognizing that New York is losing tax revenue, tourism dollars and jobs to neighboring states, Governor Cuomo announced that he will support a constitutional amendment to allow gaming in New York State. An estimated $1 billion in economic activity could be generated from gaming in New York State.
- Farm-NY: Strengthening New York's Agriculture Sector: Recognizing that agriculture contributes billions of dollars to New York's economy, Governor Cuomo announced a series of measures to support farmers and help the agricultural industry grow. To improve access to low interest loans that will assist farmers with infrastructure upgrades, the New York State Linked Deposit Program will be expanded to provide farmers in any part of the state with capital at affordable interest rates.
For a full press release, transcript or video with the PowerPoint presentation, please use the corresponding links provided:
2012 State of the State Press Release
2012 State of the State Transcript
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Sponsorship/Advertising Opportunities
IBANYS is set to launch a new set of special advertising and sponsorship opportunities for those businesses looking to appeal to our community bankers.
Within the coming weeks, be on the lookout for e-mails detailing opportunities in the coming year.
We have several Regional Meetings planned across the state, as well as multiple conferences, a 1st Annual Western New York golf outing, and of course our Annual Convention, held this year on September 9-11 at Turning Stone Resort!
You will not want to miss this chance to reach some of New York State's top banking leaders. Stay tuned for more information!
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NYS Department of Financial Services Report
Superintendent of Financial Services Benjamin M. Lawsky, submitted a report last week regarding the creation of the Department of Financial Services to Governor Cuomo, Speaker Sheldon Silver, and Majority Leader Dean Skelos. The report is required by the new Financial Services Law. It's purpose is to provide an update on the merger of the Insurance and Banking Departments into the new DFS. The report also discusses efforts under way to improve the efficiency and effectiveness of banking and insurance regulation in New York.
As specified in the Financial Services Law, a Working Group, chaired by the Superintendent, met with representatives from the banking industry and consumer groups to explore how best to ensure the new Department's effectiveness and efficiency.
The Report describes many of the Department's activities since its creation. It also highlights various initiatives aimed at modernizing and improving financial regulation.
Review the report here:
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Meet Occupy Wall Street's Favorite Banker By: Ryan Holeywell | www.governing.com | January 4, 2012
Try to find a bank president that's beloved by supporters of the Occupy Wall Street movement. It's not impossible. You'll just have to travel to North Dakota. Meet Eric Hardmeyer, who bears the unlikely distinction of being perhaps the only banker in America who, in addition to being embraced by Wall Street protesters, has been exalted by the likes of Michael Moore, Mother Jones magazine, and the Progressive States Network, among other progressive stalwarts. That's because Hardmeyer heads the Bank of North Dakota (BND), the country's only publicly-owned state bank. The institution, located ironically enough in a solidly red state, has become the darling of progressives who have become frustrated with corporate banks they say helped cause the financial crisis and resulting credit crunch. Now, state lawmakers nationwide are pushing for the North Dakota model to be replicated in their home states. Since 2010, state lawmakers in at least 16 states... read the rest here.
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IBANYS Webinar Schedule
Regulation E Legal Update: How to Properly Handle ATM & Debit Card Claims
Thursday, January 5, 2012
3:00 - 4:30pm ET
Commerical Lending Series: Required Compliance for Real-Estate-Secured Commercial Loans Tuesday, January 10, 2012 3:00 - 4:30pm ET
Director Series: Banking Out of Recession Thursday, January 12, 2012 11:00 - 12:30pm ET
Roadmap for Reporting to the Board Wednesday, January 18, 2012 3:00 - 4:30pm ET
Capital Stress & Capital Contingency: Their Role in Capital Planning Thursday, January 19, 2012 3:00 - 4:30pm ET
IRA/HSA Review & Update 2011 Tax Year
Tuesday, January 24, 2012 3:00 - 4:30pm ET
Understanding Borrowers' Tax Returns, Part 1:
Basics, Itemized Deductions, Interest & Dividend
Income & Sole Proprietorships (Schedule C)
Thursday, January 26, 2012 3:00 - 4:30pm ET
SBA Eligibility Hot Topics
Tuesday, January 31, 2012 3:00 - 4:30pm ET
To learn more or register for any of these events, click here. |
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Frank J. Capaldo
President / CEO
Victoria Miller
Director of Administration & Membership
Erin Clark
Director of Communications, Marketing & Development
Dan Valente
Director of Government Relations
William Y. Crowell, III
Legislative Counsel
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