If this page doesn't display properly in your email, click here. December 21, 2016
New Jersey Bankers Association
 
Industry News

Agencies Finalize Rule Expanding Number of Banks and Savings Associations Qualifying for 18-Month Examination Cycle
The FDIC, Federal Reserve Board, and the OCC issued interagency final rules that increase the number of small banks and savings associations eligible for an 18-month examination cycle rather than a 12-month cycle. The interagency rules are intended to reduce regulatory compliance costs for smaller institutions, while maintaining safety and soundness protections. Under the final rules, qualifying well-capitalized and well-managed banks and savings associations with less than $1 billion in total assets are eligible for an 18-month examination cycle.

Federal Regulatory Agencies Issue CECL FAQs

The federal regulatory agencies have published an FAQ document on the Financial Accounting Standards Board's Current Expected Credit Loss standard. The FAQs summarize key elements of the new standard, highlight changes to U.S. generally accepted accounting principles, provide regulatory perspective on CECL processes and methodologies and outline steps banks can take to prepare for implementation. CECL will be effective in 2020 for Securities and Exchange Commission registrants and in 2021 for all others.

Fed Survey: Millennial Workers Optimistic About Jobs, Wages
Optimism about future job prospects is on the rise among young adult workers, according to findings from a survey released by the Federal Reserve. Sixty-one percent of workers between ages 18 and 30 said they were optimistic about future opportunities, up from 45 percent from the previous survey in 2013. Along with increased optimism, young workers also reported being more satisfied with their salary and benefits than in 2013, and overall, respondents said they prefer steady employment (62 percent) to higher pay (36 percent).

ICBA Guidelines for Responding to Americans with Disabilities Act Website Demand Letters
This year, many companies, including community banks, have received demand letters from plaintiffs’ law firms alleging the company is violating Title III of the Americans with Disabilities Act (“ADA”) because their websites are not sufficiently accessible to individuals with visual disabilities.

N.Y. Fed: Consumers Anticipate Higher Spending, Lower Income Growth
Americans’ expectations for how much more they will spend in the next year rose in November, landing at 3.6 percent from October’s 3.2 percent reading, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations. The outlook for household income growth declined, however, landing at 2.4 percent in November, down from October’s 2.5 percent figure. Credit availability expectations improved in November, with the number of households expecting an easier time obtaining credit rising to 22 percent from October’s 16 percent.

New York Fed Releases Business Leaders Survey
Activity in the region’s service sector held steady, according to firms responding to the Federal Reserve Bank of New York’s December 2016 Business Leaders Survey. The survey’s headline business activity index climbed six points to -0.6. The business climate index jumped 20 points to -3.8, signaling that respondents generally continued to view the business climate as worse than normal, though to a small degree compared with recent months. The employment index edged up to 11.2, pointing to a continued increase in employment levels, and the wages index moved down three points to 24.3, its lowest level in more than a year, suggesting that wages rose at a slower pace. The prices paid index held steady at 34.7, signaling that input prices continued to advance at a moderate pace, while the prices received index dipped below zero, suggesting a small decline in selling prices. Indexes assessing the six-month outlook increased significantly, and indicated that firms were much more optimistic about future business conditions than they had been in quite some time.

OCC Revises Guidance on Consigned Items, Services
The OCC has issued a revised booklet on consigned items and other customer services as part of the Comptroller’s Handbook. The new booklet provides updated guidance to examiners assessing the risks associated with consigned items -- such as travelers’ cheques, money orders and commemorative U.S. coins -- and other customer services, including safe deposit boxes and messenger services.

*click on headline for details
 

 
Associate Member News

COCC’s Betsy Didan Elected Chairman of NEACH Payment Group’s Board of Directors
Betsy Didan, First Vice President of Cash Management and Payment Services at COCC, has been elected chairman of the board of directors of NEACH Payments Group.NEACH Payments Group is a wholly owned subsidiary of NEACH, the New England Automated Clearing House Association. The goal of NEACH Payments Group is to help financial institutions, corporations and vendors solve operational and regulatory challenges, manage risk and drive financial or business improvement through a suite of audit, risk management and consulting services.

*click on headline for details 

 
 






Beneficial Ownership Web Seminar
Tuesday, February 7, 2017

ABA Government Relations Summit
Monday-Wednesday, March 20-22, 2017

7th Annual Women in Banking Conference
Wednesday, April 5, 2017

Accounting Seminar with FMS-NY/NJ
Friday, April 21, 2017

Annual Marketing Conference
Thursday, June 8, 2017

Operations & Technology Seminar
Tuesday, June 20, 2017
____________________

LEADERSHIP ACADEMY:

STEPS:
April 19, May 23, June 21

STEM:
 April 20, May 25, June 22

BOOTCAMP:
April 25

NJBankers Leadership Academy
See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
 
NJBankers to Host Program on Fiduciary Rule

NJBankers will be hosting a 90‐minute program on the Department of Labor’s final regulation redefining “fiduciary” under ERISA, which is scheduled to go into effect April 2017. This new rule impacts financial institutions and insurance carriers which manufacture and distribute financial products to the IRA and employee benefits plan marketplace. The presentation will cover: key potential pitfalls to compliance with the Best Interest Contract Exemption (BICE) requirements; how to best predict what compensation will be found “reasonable” under the new Rules; tips in evaluating the risks associated with compensation structuring issues; and an update on the pending Administrative Procedures Act litigation against the DOL. The program is being presented by Jim DelBello and Allison Sizemore of the law firm Reed Smith. There is no cost to attend.

The program will be offered at the NJBankers office and via conference call on Thursday, January 26th at 9:30 a.m. Please email Lauren Barraza (lbarraza@njbankers.com) if you are interested in attending and if you plan to attend in person or by telephone. If you have any questions, please contact Jim Meredith(jmeredith@njbankers.com; 908.272.8500, ext. 614).

 
CRA Conference

Wednesday, February 15, 2017
Renaissance Woodbridge Hotel, Iselin, NJ
Join NJBankers, industry regulators and the nation’s leading CRA expert and author for an informative and lively discussion on compliance examinations, investigations and enforcement actions relating to the Community Reinvestment Act and the Fair Lending laws. Read More

 
WEBSEMINARS

NJBankers is pleased to announce our partnership with Total Training Solutions (TTS).  Starting on Monday, December 26th, our web seminars will be provided by TTS.  You will still have access to live web seminars, on demand web seminars plus have the enhanced option to package multiple web seminars.  For the new service you will need to create new credentials for log in.  Any questions on the new provider please contact Cris Goncalves at 908-272-8500 Ext. 630, CGoncalves@njbankers.com, or Diane Starr at 908-272-8500 Ext. 600, DStarr@njbankers.com

Click here for upcoming webinars

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

GUDPA
Thursday February 2, 2017
Crowne Plaza Monroe, Monroe Township, NJ
Don’t miss this half-day seminar to be presented by the New Jersey Department of Banking and Insurance on GUDPA Law & Regulations. From how you must calculate your participation numbers, to how determine and deposit the proper collateral and reporting data correctly. 

Advanced IRA
Monday-Tuesday, March 27-28
NJBankers Office, Cranford, NJ
Anyone can stand at a lectern and spout rules and regulations.  The challenge is to make sure people understand what the rules mean and how to apply them in everyday situations.  These workshops are an exceptional, hands-on workshop that will provide critical information on IRAs and tax-favored savings plans in terms you can readily understand.

Success Through Effective Practices of Supervision (STEPS):  April 19, May 23, June 21
NJBankers Office, Cranford, NJ
The STEPS Curriculum will cover topics such as:
Session 1: Critical Skills for Supervisors; Characteristics and behaviors of effective supervisors
Session 2:  Coaching for High Performance; Identifying coaching opportunities
Session 3:  Time Management & Delegation; Understanding your time management style

Success Through Effective Management (STEM):  April 20, May 25, June 22
NJBankers Office, Cranford, NJ
The STEM Curriculum will cover topics such as
Session 1:  Management Fundamentals; Understanding and Maximizing Your Management Style via DISC Assessment.
Session 2:  Coaching for Success; Using Effective Feedback to Address Performance Problems
Session 3: Planning & Conducting Effective Performance Evaluations; Understand the Components of Performance Management and the Manager’s Role in the Process

Women’s Leadership in the 21st Century: A Communication Boot Camp: April 25, 2017
NJBankers Office, Cranford, NJ
This intensive, practical, highly interactive boot camp will focus candidly and analytically on the communication challenges facing women in banking today.  This is a full-day program for women wishing to develop the ultimate career advantage, being a stronger communicator at work.

 
Directors Certification Training: Board & Management Leadership Summit

                      

March 10, 2017 - SAVE THE DATE
Renaissance Woodbridge Hotel, Iselin
Qualifies for 5 credits toward certification*

This new conference format will focus on current and upcoming issues and opportunities for community banks and provide advice & solutions geared toward enhancing value for all attendees. Read More

 
Register Today! Economic Leadership Forum


Confirmed! The fourth breakout session at the Economic Forum will feature Chester Mosteller, founder & president, Mosteller & Associates and Nicholas DeMedio, senior associate, Mosteller & Associates addressing Leveraging Human Capital in a Changing Workforce. The Economic Leadership Forum is an opportunity to hear from key thinkers on the issues that shape our great Garden State and the Nation. Experience a line-up of today’s thought leaders including Keynote Speaker, General Michael Hayden, retired four-star general who served as director of the CIA and NSA when the course of world events was changing at a rapid rate; Patrick Harker, president/CEO of the Federal Reserve Bank of Philadelphia who participates on the FOMC which formulates the nation's monetary policy; Dr. James Hughes, Distinguished Professor, Dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers, a nationally-recognized expert on demographics, housing, and regional economics; and many more experts and sessions, all while you network with New Jersey’s influential business leaders. Don’t miss out! This sell-out event attracts more than 500 attendees. Read More

 
Break out your flip flops - May 17 - 21, 2017 - for NJBankers Annual Conference
NJBankers is back at The Breakers in Palm Beach, FL for our Annual Conference & Market Showplace.  
 
The room block is open!  The Breakers anticipates a sell-out over our dates and encourages attendees to make their reservations early.  

Read more
 
Check out the NEW - Navigating Sponsorship, Exhibiting & Advertising Opportunities 2017

 
Show Off Your Stuff!
Get the Recognition you deserve

The Community Service Award program highlights the significant impact NJ banks have on their local communities.  Members are encouraged to submit information and photographs on initiatives that show how their financial institution makes New Jersey’s communities’ better places to live, work and play. We compile a book that includes the submissions and then distribute it to Legislators and Regulators. This book is shared with media outlets to prompt interest in your bank’s programs and reinforce the impact the banking industry makes on the communities that members serve. Join us in this initiative and benefit from the exposure! Please pass this information to the appropriate individual at your institution. Read More

 

        

 
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