Convention 2012 breaking news: NYFD Lt. to speak at 9/11 tribute Tuesday 

As this year's annual convention falls on September 11th, we felt a tribute to that fateful day was in order. On Tuesday, we will hear from Lieutenant Bill Butler of FDNY's Ladder 56. Mr. Butler was inside the North Tower of the World Trade Center as it collapsed. You will hear the amazing story of how he and 12 others became trapped in a stairwell as the tower fell, and how life changed from that moment on.  

What: 9/11 Tribute

When: Tuesday, September 11, 2012 - 11:45am

Where: IBANYS 39th Annual Convention - Turning Stone Resort, Verona, NY

Lt. Bill Butler

Governor Cuomo recently signed S.219A (Maziarz)/A.9787 (Robinson), which relates to preauthorized electronic fund transfers. The legislation, now Chapter 403 of the Laws of 2012.

The Consumer Financial Protection Bureau (CFPB) proposed a rule to require lenders to offer a no-point, no-fee mortgage loan option to make it easier for consumers to compare loan term options. Lenders would also have to reduce interest rates when consumers chose to pay upfront points or fees. The proposal would also establish qualifications and screen standards for mortgage-loan originators, prohibit the payment of steering incentives to originators, and place restrictions on arbitration clauses and the financing of credit insurance. October 16 is the deadline for comments.

Don't miss the Monday morning, September 10 session of IBANYS' 39th Annual Convention. Featured will be a Regulatory Panel Discussion with representatives from the FDIC, OCC, Federal Reserve Bank of New York, NYS Department of Financial Services and Consumer Financial Protection Bureau...other speakers that morning will include ICBA President Cam Fine with an update from Washington, and NYS Superintendent of Financial Services Benjamin Lawsky.

Remember When...

As IBANYS members prepare to gather for our 39th Annual Convention (September 9, 10 and 11 at Turning Stone Resort in Verona, NY), it got us thinking about how our Association began. Did you know the 39 "founders" of IBANYS - sparked by their opposition to the proposed omnibus banking bill -  launched the new organization in 1974 to protect their interests?  

Republicans ruled the roost in Albany. Nelson Rockefeller was in his final months as Governor before being named Vice President. The Banking Superintendent was Harry Albright. NYS Senate Majority Leader Warren Anderson (R-Binghamton) and  Assembly Speaker was Perry Duryea (R-Montauk) were the legislative leaders. New York had 41 members of Congress (next year, we'll have 27), and our two U.S. Senators were Republican Jacob Javitz and Conservative James Buckley.

Remember some of the events and people "in the news" that year?

President Nixon became the first U.S. President to resign, and was succeeded by Vice President Ford - the only man in history to serve as an unelected Vice President and President.The Yearly Inflation Rate in the United States was 11.3%, the Year End Close of the Dow Jones Industrial Average was 616 and the federal debt was $483.9 billion. Unemployment was at  5.6%.  The average cost of a new house was  $34,900, while the average income per year was $13,900. A gallon of gas cost, on average, 55 cents, and the average cost of a new car was $3,750. The first issue of People Magazine was published, with Mia Farrow on the cover. "The Sting" won the Oscar for Best Picture. Patty Hearst, 19-year-old daughter of publisher Randolph Hearst, was kidnapped by Symbionese Liberation Army. Henry Aaron broke Babe Ruth's all-time Home Run record. Muhammad Ali knocked out George Foreman in 8 rounds to regain the Heavyweight Boxing Title in The Rumble in the Jungle in Zaire. Derek Jeter and Leonardo DiCaprio were born. Jack Benny, Ed Sullivan and Duke Ellington died. The Miami Dolphins and Oakland A's won the Super Bowl and the World Series, and Cannonade won the Kentucky Derby. 1974: All in all, quite a year!