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New Jersey Bankers Association
Legislative Update
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112th Annual Conference Wrap Up

This year’s Annual Conference in Scottsdale, AZ drew numerous representatives from 59 bank and more than 70 associate members. By all accounts, it was another successful conference which combined the beautiful landscape, a top notch resort and professional development sessions led by dynamic speakers.

NJBankers Board of Directors, members and staff extend their deep appreciation to the many sponsors and exhibitors for their participation in the Conference. The annual event would not be as successful as it was without their support!

Gerald L. Reeves, NJBankers Immediate Former Chairman, president/CEO, Sturdy Savings Bank presents the ceremonial gavel to NJBankers Incoming Chairwoman, Angela Snyder, chairwoman & CEO, Fulton bank of NJ. Read More

NJBankers in the News

McWeeney Quoted in "Wells Fargo Launches Online Business Loans; N.J. Banks to Follow" Article
Wells Fargo launched a new online small-business lending venture Tuesday, taking on nonbank lenders like On Deck Capital and Lending Club.

Industry News

ABA Foundation’s Community Commitment Awards: Call for Entries
The American Bankers Association’s Foundation is requesting submissions for its annual Community Commitment Awards to recognize banks' essential involvement in their communities. Deadline for entries is July 1. The awards will honor innovative, high impact contributions banks make to the customers and communities they serve.

Agencies Issue Guidance on Deposit Reconciliation
The federal banking agencies have issued guidance on how financial institutions are to handle deposit discrepancies. The guidance reminds bankers that they either must adopt deposit reconciliation policies and procedures designed to avoid discrepancies or policies and procedures that are designed to resolve discrepancies “such that customers are not disadvantaged.”

The New Jersey Department of Banking Make Change In Department Email Address
The email address of the Department of Banking and Insurance has been changed. Note that only the “domain name” (second part of email address) is changed. The recipient (first part of email address) remains unchanged.

The Department of Labor Final Overtime Rule Released
The Department of Labor released its final rule increasing the salary level for eligibility for exemption from overtime under the Fair Labor Standards Act (FLSA) effective December 1, 2016.

ICBA Presents National Community Service Awards Program
The National Community Bank Service Awards, presented by the Independent Community Bankers of America and sponsored by FIS, recognize community banks providing outstanding, hands-on volunteer community service efforts to their local communities. The 2016 National Community Bank Service Awards recognize all types of community service efforts. Entry is free for all community banks and multiple entries are encouraged. You may nominate your own bank. Deadline June 1, 2016.

FHLBNY Declares a 4.50% Dividend for the First Quarter of 2016
José R. González, President and CEO, Federal Home Loan Bank of New York announced that FHLBNY Board of Directors approved a dividend for the first quarter of 2016 of 4.50% (annualized). The dollar amount of the dividend will be approximately $61.5 million.

Federal Reserve Bank of New York's Business Leaders Survey
The Federal Reserve Bank of New York's May 2016 Business Leaders Survey  indicates that activity in the region’s service sector expanded modestly. The survey’s headline business activity index rose four points to 5.4. The business climate index increased six points but remained negative at -12.5, signaling that, on balance, respondents continued to view the business climate as worse than normal. 

OCC Issues Guidance on Handling Money Market Funds
The OCC has issued guidance on money market mutual funds for banks that offer them to customers or that automatically sweep funds between deposit accounts and MMFs, as well as banks that invest in MMFs. The guidance highlights compliance, liquidity, operational and strategic risks the OCC has identified.


*click on headline for details 




Commercial Real Estate Conference
June 7, 2016

Internet Profiling and Intelligence Gathering
 June 16 & 17, 2016

Annual Senior Management Conference
November 1-3, 2016

Sponsorship, Exhibiting
 & Advertising Opportunities
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Other Industry Meetings
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Member News

The Provident Bank Launches .Bank Website to Improve Online Security for Customers
As part of its ongoing effort to increase digital security, The Provident Bank has updated its website to www.Provident.Bank. Provident Bank is one of the first banks to launch a .Bank website address – the URL extensions are available exclusively to banks and financial institutions and require a rigorous set of qualifications to obtain.

Wells Fargo Launches FastFlex Small Business Loan

Wells Fargo announced the launch of FastFlexSM Small Business Loan, an online, fast-decision loan that is funded as soon as the next business day and offers a competitive interest rate to small businesses with short-term credit needs.

*click on headline for details 

Endorsed Service Provider News

New Pentegra Retirement Services Poll Reveals Most Common Retirement Savings Regrets and Advice
A survey commissioned by Pentegra Retirement Services and conducted online by Harris Poll in March 2016 among adults who are retired and who do not have a pension, shows 94% have advice about retirement to offer those younger than them, particularly stressing the importance of saving early and saving more throughout one's career.

*click on headline for details  

Compliance University

Wednesday through Friday, June 22-24, 2016
Crowne Plaza, Monroe Township, Monroe, NJ

Compliance University is designed with the flexibility to encourage a number of your staff to attend. Sign up for individual days, sign up one person for the entire three-day university or two people can split a day in half.  Ensure your bank is compliant! Read More

2016 Marketing Conference

Thursday, June 9, 2016
Crowne Plaza Monroe, Monroe Township

Every session is designed and planned so that you walk away with actionable insights, tools, and techniques that you can use right away to make better connections with your customers, communities and take your marketing and communications efforts to the next level. Unlike national conferences, the smaller, more intimate setting of this forum facilitates easy communication and networking opportunities. Read More

Upcoming NJBankers Conferences - Don't Miss Out on Opportunities for Professional Development!

Commercial Real Estate Conference - Tuesday, June 7, 2016
Join NJBankers for a seminar that will focus on the interplay between New Jersey’s economic and demographic conditions and its commercial real estate markets in 2016 and beyond.  Topics to be covered in this session include the sustainability of apartment rental demand, long-term consequences of an expanding eCommerce, the future of office buildings and the increasing probability of a next economic recession.

Operations & Technology Roundtable – Tuesday, June 14, 2016
The New Jersey Bankers Association’s Operations & Technology Committee is pleased to present the 11th in a series of interactive roundtable programs.  Topics covered will be: Mobile Payments; Bitcoin; Incident Reporting & Cyber Risk.

2-DAY SEMINAR Investigative Research Methods using Advanced Internet Profiling & Intelligence Gathering Through Online Resources
Thursday, June 16 & Friday, June 17, 2016
Brookdale Community College, Lincroft, NJ

This is a must see hands-on two-day interactive training seminar on the use of advanced internet research and intelligence gathering. This is a must see hands-on two-day interactive training seminar on the use of advanced internet research and intelligence gathering.  Additionally it will provide step-by-step in-depth researching techniques utilizing online and open-source databases located on the web. 

*click on headline for details  

2016 Mid-Atlantic Anti-Money Laundering Conference

The Tenth Annual Mid-Atlantic Anti-Money Laundering (MAAML) Conference will take place at the Ritz-Carlton, Pentagon City, Hayes Street, Arlington, Virginia,  July 26 through 28, 2016. This conference will focus on intelligence briefings from the sponsoring agencies related to significant criminal and terrorist threats, current money laundering trends, successful investigations, regulatory issues, cyber threats, as well as lessons learned. The conference will additionally serve as an opportunity for law enforcement and industry partners to network and establish working relationships that will help secure our country and shutdown vulnerabilities within the financial and economic sectors. Read More

Individual Seeks Employment

Senior Loan Officer - Bank training program M.B.A. graduate with over 30 years of experience.  Broad knowledge and experience with middle market, small business, asset based, factoring, commercial and residential real estate, marine and aviation credits over a wide variety of industries.  Experience and knowledge of banking regulations, compliance, loan documentation, EDA and SBA loan.  Experienced in new business development, cross selling of banking products as well as underwriting, building and maintaining banking and customer relationships.

Please contact Erin Suckiel (908-272-8500, ext. 629; esuckiel@njbankers.com) for a copy of the resume. 

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