| | |
Regulation
New ICBA Webpage Details New Mortgage Rules
ICBA launched an educational webpage
to provide details of the Consumer Financial Protection Bureau’s new rules on mortgage lending. The webpage includes summaries of the final rules and links to the rules themselves. It also links to a proposal to amend the final qualified mortgage rule to add a special QM category for community bank portfolio loans.
ICBA developed the resource page to help community bankers understand the rules released in January 2013 and prepare for implementation. The rules released last month cover:
- qualified mortgage standards
- appraisals for higher-priced mortgage loans
- escrow requirements for higher-priced loans
-
high-cost mortgages regulations
- mortgage loan originator compensation and qualification standards
- mortgage servicing requirements.
ICBA will continue to update the page as more information and clarification of the rules is available. Please email questions about the rules to info@icba.org. Visit the ICBA Webpage.
Congress
Fine: Stage Is Set for Congressional Battles
With committee assignments and leadership structures in place, ICBA is poised to advance its legislative agenda for the 113th Congress, ICBA President and CEO Cam Fine wrote in his latest blog post. Relieving the nation’s community banks from undue regulatory burdens and advancing campaigns against favorable treatment for government-supported competitors will continue to be top priorities, he wrote in Finer Points.
“As
the clear and uncompromised voice for community banks, ICBA looks forward to continuing to work with the nation’s community bankers and our affiliated state and regional community banking associations on behalf of this great industry,” Fine wrote. “With the legislative wheels beginning to turn, now is the time to continue our push for fair and sustainable regulations through the 113th Congress.” Read the Blog Post.
In Depth
Vigilant Advocacy the New Normal
As
the nation continues to right itself from one of the worst financial crises in decades, increasingly vigilant advocacy among the nation’s community banks has become a core business practice, according to a new exclusive on the ICBA Independent Banker website.
The industry needs to begin thinking about advocacy in a new light, as more than an incidental, reactionary response, ICBA Director of Congressional Advocacy Brian Anderson writes. “It is incumbent on community bankers to recognize and develop ways to incorporate advocacy into their daily bank operations at all levels, and ICBA is here to assist you,” he writes. Read
the Article.
ICBA NewsWatch Today is sponsored by QwickRate:
Stop by booth #256 to enter a free iPad mini-drawing and to check out our new Bank Performance Report Card at ICBA’s convention. Also, be sure to attend our workshop, “Basel III: What Does it Really Mean to Community Banks,” at 11:15 a.m. Tuesday in room Mouton 1. Contact us for more information at www.qwickrate.com.
Advocacy
ICBA Supports House Reg-Relief Measures
ICBA expressed its support for recently introduced legislation to provide regulatory relief for community banks. In letters to members of Congress, the association wrote that the following ICBA-advocated measures would help remove excessive regulatory burdens from the nation’s community banks:
- H.R. 797, sponsored by Reps. Steve Stivers (R-Ohio) and Gwen Moore (D-Wis.), would prevent community banks and their employees from having to register as municipal advisors with and be examined by the Securities and Exchange Commission.
-
H.R. 801, sponsored by Reps. Steve Womack (R-Ark.) and Jim Himes (D-Conn.), would allow thrift holding companies to deregister under Title VI of the JOBS Act in the same manner as bank holding companies.
- H.R. 749, sponsored by Rep. Blaine Luetkemeyer (R-Mo.), would eliminate a provision requiring financial institutions to provide annual privacy notices to customers even when their policies have not changed.
Personal Finance
ICBA Encourages Americans to Save During “America Saves” Week
ICBA announced it is proud to add community bankers’ voices to the nearly 2,000 organizations nationwide that are encouraging Americans to save as part of America Saves Week.
In a national news release that community bankers can customize for their communities, ICBA encouraged Americans to build their savings by setting goals, creating a spending plan, and making automatic savings deposits. ICBA Senior Executive Vice President and Chief of Staff Terry Jorde reiterated the tips in a post on ICBA’s Go Local blog.
Running through March 2, the nationwide campaign features a broad coalition of nonprofit, corporate and government organizations that are committed to raising awareness of the importance of saving and paying off debt. Read ICBA Release. Access Customizable Release.
FHLBanks
Community Banks Critical to Recovery, FHLBank Chief Says
Top
on the list of positive elements of the financial sector is the community banking system, Council of Federal Home Loan Banks President and CEO John von Seggern said. Discussing 2012 FHLBank operating data, von Seggern said that community banks and thrifts functioned efficiently during the financial crisis and continue to play a vital role for consumers and businesses as the U.S. economy recovers.
Community
financial institutions have a reliable and efficient source of funding in the FHLBanks, which focus on economic stability instead of short-term profits, von Seggern said. “Working together as the community banking system, local lending institutions and the Federal Home Loan Banks were there for the American people in the last crisis and will be there in the future,” he said.
Credit Unions
NCUA Updates Definition of “Rural District”
The National Credit Union Administration
board approved a final rule updating the definition of “rural district” to allow certain federal credit unions to expand services in rural areas.
The new definition sets the maximum population of a rural district at 250,000 or 3 percent of the population of the state in which the majority of the district is located, whichever is greater. Previously, the population limit was 200,000, regardless of the population of the state with the majority of the rural district. There are 43 federal credit unions with a rural district charter.
The
board also received an update on the performance of the National Credit Union Share Insurance Fund and the Temporary Corporate Credit Union Stabilization Fund. The Share Insurance Fund ended 2012 with a 1.30 percent equity ratio, and NCUA calculated the ratio on an insured share base of $839.4 billion, a growth of 5.5 percent. Additionally, the Share Insurance Fund increased by 4.6 percent to $11.3 billion at the end of 2012.
Regulation
CFPB Begins To Develop Student Loan Affordability Plan
The
Consumer Financial Protection Bureau announced that it is gathering information to develop policies to make private student loan repayment more manageable for struggling borrowers. The CFPB said it is looking for more flexible repayment options for private borrowers and is seeking input on issues such as the economic impact of student loan debt, options for lowering monthly payments and the most effective mechanisms for communicating with distressed borrowers. Comments will be accepted until April 8.
Regulation
FDIC Hosting Free Telephone Seminars
The
FDIC said it will hold 15 free telephone seminars on deposit insurance coverage for bank officers and employees between March 20 and Dec. 3. Of the 15 sessions, 11 will provide a comprehensive overview of deposit-insurance rules. The other four will focus on coverage for formal revocable trust accountholders whose trust deposits at one bank exceed $1.25 million.
Regulation
Fed Extends Comment Period for Foreign Bank Regs
The
Federal Reserve Board extended until April 30 the comment period on a proposed rule to implement enhanced prudential standards and early remediation requirements for foreign financial firms. The rules were established under the Dodd-Frank Act for foreign banking organizations and foreign nonbank financial companies supervised by the Fed. Comments previously were due by March 31.
Economy
Rural Economic Index Rises in February
The
rural economy expanded for the fifth time in the past six months, according to Creighton University’s monthly survey of bank CEOs in 10 states. The Rural Mainstreet Index increased to 58.2 from 55.6 in January, but was down slightly from a year ago. The farmland-price index declined for the third straight month, while the loan-volume index remained below growth-neutral.
Poll
This Week’s Quick Poll
Take this week’s Quick Poll
on in-school branches, and view results from the previous poll on microlending programs. View the Archive.
Education
ACH Risk Management Webinar Tomorrow
Banking
regulators and rule-making bodies are increasingly requiring financial institutions to develop documented policies and procedures related to ACH processing. The process of developing such documentation can be daunting. ACH Risk Management, an ICBA webinar slated for 11 a.m. (Eastern time) tomorrow, will provide a framework for building an effective ACH Risk Management Policies and Procedures manual for your financial institution. Register Online.
Products and Services
Article: Helping Small Businesses Understand Cash Flow
As community banks nurture their relationships with small-business customers, it is critical to understand their daily cash flow challenges. Even businesses reporting strong earnings and cash flow at year-end may experience stresses associated with payment collection, terms of sale and payables management on a day-to-day basis. “Three-Dimensional Cash Flow,” an article from ICBA Preferred Service Provider
ProfitStars, helps community bankers engage business clients in discussions on daily cash-flow challenges and enables community bankers to help small-business customers improve their daily cash flow. Read the Article.
|
| | | | | |
