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FRANKLIN
The Franklin Club 

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Everyone receives a Franklin Club lapel pin and recognition at IBANYS events. We're also adding a part of ww.ibanys.net dedicated to Franklin Club members. 

 

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October 24, 2012

MEMBER SERVICES &  EDUCATION

IBANYS Regional Meeting A Major Success!

IBANYS' Regional Meeting in Geneva for Western New York  & the Finger Lakes on October 18  was a big success.  More than 25 bankers representing 12 banks --  and over 33 total attendees -- gathered to hear updates on corporate governance, regulatory changes and employment law issues by Cliff Weber & Miriam Schindel (Hinman, Howard & Kattell)...and, a presentation by Bharat Nair (WolfPAC) on operational risk. The program was extremely well received, and the fellowship/networking time was invaluable. Those who missed the meeting can access the presentations here  as well as on our website. The Geneva session concluded a very successful year of our re-instituted regional meeting programs. IBANYS will hold more joint regional programs for 2013. Stay tuned!

IBANYS members at Geneva Regional meeting October 18th.

And...Have You Registered for These IBANYS' Webinars?

Commercial Lending Series: Analyzing Ratios & Cash Flow in Commercial Lending

Thursday, October 25, 2012

3:00 - 4:30pm ET

Learn more here!

 

Managing E-Sign, E-Statements & E-Disclosures

Tuesday, October 30, 2012

3:00 - 4:30pm ET

Learn more here!

 

Visit our website and sign up today: http://financialedinc.com/IBANYSwebinars.html 

GOVERNMENT RELATIONS 

New York DFS Superintendent Lawsky: Basel III Would Place "Undue Burden" on Community Banks

NYS Financial Services Superintendent Benjamin Lawsky wrote federal bank regulators incorporating proposed Basel III capital rules to urge that capital ratios being considered should be eased for community banks with less that $10 billion in assets.  He stated that smaller banks should be allowed to keep the risk-weighting calculations allowed by Basel I instead of adopting the more stringent calculations of Basel III. 
 
The Superintendent cautioned: "Implementing the proposals as they stand now would place regional and community banks at a further competitive disadvantage, with potential ripple effects on the local markets, small businesses and consumers. . . .
 
We believe that vibrant community banks are essential to small business development and the health of the U.S. economy."  Here's a link to Superintendent Lawsky's letter: http://dfs.ny.gov/reportpub/prlt121022.pdf

 

NYS Court of Appeals Rules that Federal Credit Unions Are NOT Exempt from State Mortgage Recording Tax

The New York State Court of Appeals handed down its decision in the case of Hudson Valley Credit Union v. NYS Dep't of Taxation & Finance. The Court held that mortgages issued by federal credit unions are subject to the New York State mortgage recording tax.  The decision concluded:  "In sum, based on principles of statutory interpretation and the legislative history of the FCUA, we hold that federal credit union mortgages are not exempt from the State's MRT. Accordingly, the order of the Appellate Division should be modified, with costs to defendants, by declaring that federal credit unions are not exempt from the New York State mortgage recording tax and, as so modified, affirmed." The decision may be read in full here:  

 

Regulators Will Consider Community Bank Basel Concerns
Comptroller of the Currency Thomas Curry said regulators plan to take a close look at community bank concerns with proposed Basel III regulatory capital guidelines.Although he did not commit to an exemption, Curry did indicate that calls to exempt community banks and thrifts from the proposals raise valid questions. IBANYS has joined ICBA in urging federal regulators to exempt community banks and thrifts from the higher capital standards. Meanwhile,the community banking industry's in support of the exemption made news this week, as the American Banker noted hundreds of comment letters on the proposed capital standards have been submitted.

 

How New Mortgage Regs Could Impact Community Banks

Karen Thomas, ICBA's top regulatory attorney in Washington, authored an op-ed on the American Banker's BankThink site on how new mortgage regulations could impact community banks. 

Read more here.

 

CFPB Now Accepting Credit Reporting Complaints
The Consumer Financial Protection Bureau announced that it has begun accepting consumer complaints about credit reporting, and is encouraging consumers who believe there is incorrect information on their credit reports, or who have an issue with an investigation, to first file a dispute from the consumer reporting agency itself. 

INDUSTRY INSIGHTS

  

Economic Updates

 

Economic Confidence Index Declines

Gallup's U.S. Economic Confidence Index declined to negative 19 this week, down from negative 17 a week ago. The index has not seen sunstantial change since the week of September 3rd, when confidence  improved significantly from one of the lowest points of the year. Read more.

 

POLITICAL ANALYSIS

With the presidential election incredibly tight according to all the polls, statistician and analyst Nate Silver provides an in-depth look at the current situation and notes why results from Ohio will likely decide the election. Read the analysis here:

 

DID YOU KNOW. . . In 2000, Al Gore (D) won the popular vote by 543,816 votes (.5%), but lost the presidency to George W. Bush (R) by five Electoral Votes? And, did you know it was not the first time in our history the winner of the popular vote lost the election? In 1876, Rutherford Hayes (R) of Ohio defeated Samuel Tilden (D) of New York by 1 Electoral Vote, but lost the popular vote by 3%. Imagine: Even before we had daily tracking polls, 24-hour cable and the internet and minute-by-minute tweeting!!

Frank J. Capaldo              
President / CEO
  
Victoria Miller
Director of Administration & Membership

Steve Rice
Director of Government Relations, Policy & Services Development 

William Y. Crowell, III
Legislative Counsel