If this page doesn't display properly in your email, click here. November 15, 2017
New Jersey Bankers Association
NJBankers in the News

McWeeney Quoted in Asbury Park Press Article "Amazon HQ: What will Phil Murphy mean for NJ's economy?"
New Jersey's bid to attract Amazon's new headquarters — and any other company, for that matter — faces its first question mark: the election of Phil Murphy.

Caruso’s decision to push for pot could pay off if it’s legalized - McWeeney Quoted
Bill Caruso was throwing away his career; he was doing something silly; why wasn’t he being a good lawyer and just sticking to representing client interests? He was being reminded regularly by colleagues, mentors and the rest that he was reckless for volunteering so much of his time to advocating for marijuana reform.

Affuso Quoted in NJSpotlight Article "Can Gov.-Elect Murphy Make a Go of His Public Bank?"
Gov.-elect Phil Murphy often told a story on the campaign trail about how, as a relative newcomer to statewide politics, few people in New Jersey had even heard of him before he jumped into this year’s governor’s race. After his victory last week, the same could be said about one of Murphy’s core fiscal-policy proposals — a plan to launch a state-run public bank in New Jersey.

Public banking: The other winner in 2017 elections - Affuso Quoted
With the election of Democrat Phil Murphy as its next governor, New Jersey inched closer to becoming the second state in the country to establish a state-run, taxpayer-owned bank.

Affuso Quoted by 101.5 - "A public bank for New Jersey: Groundbreaking idea — or just wacky?"
Democratic gubernatorial nominee Phil Murphy in most ways adheres to the standard progressive political platform of 2017. But he’s got one major, unique policy proposal – the creation of a public bank into which New Jersey state government would deposit all its tax collections and from which it would make loans.

*click on headline for details

 
Members of Congress
Michael P. Affuso, Executive Vice President/Director of Government Relations, NJBankers

This week Senate Banking Committee Chairman Crapo and Senators Tester, Heitkamp, Donnelly and Warner announced an agreement on a package of regulatory reform proposals. While the proposal is not perfect and does impose additional thresholds, the bill is a positive first step in the direction of providing relief to a number of our member institutions and advancing a number of NJBankers advocated provisions. Notably, the measure provides QM relief and other mortgage reforms, provides charter flexibility for federal savings associations, broadens the 18-month examination cycle to additional institutions, provides needed relief on stress testing and increases the SIFI threshold.

The Committee announced the agreement with eight Democrats and one Independent (Joe Donnelly (D-Indiana), Heidi Heitkamp (D-North Dakota), Jon Tester (D-Montana), Mark Warner (D-Virginia), Tim Kaine (D-Virginia), Angus King (I-Maine), Joe Manchin (D-West Virginia), Claire McCaskill (D-Missouri), and Gary Peters (D-Michigan) joining as original cosponsors of the bill. With that level of support the Committee will try to move the measure quickly through the Committee to obtain time on the Senate calendar.  

As we receive legislative text, we will provide additional information to you. We will be working with members of the New Jersey delegation to garner support for the legislation. We will alert you as to the most opportune time for you to also contact your members in support of the bill. Read More

 
Industry News

CFPB Seeks Comments on Free Access to Credit Scores
The Consumer Financial Protection Bureau is requesting information on consumers’ experience with access to free credit scores as well as information about the experience of companies and nonprofits that offer their customers and the general public free access to their credit scores.

Consumers Expect Higher Spending Growth
Americans’ expectations for how much more they will spend in the next year rose slightly in October, reaching 2.8 percent, according to the Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations.

Fed’s 2018 Fees Expected to Rise 1.4 Percent

The Federal Reserve System’s 2018 fee schedules for priced services that go into effect Jan. 1, 2018 are expected to be 1.4 percent higher on average than in 2017, and according to the Fed, the system projects that it will recover 100 percent of its priced services costs.

GOP, Democratic Senators Strike Bipartisan Reg Relief Deal
On November 13, 2017, the Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Banking Committee members Joe Donnelly (D-Indiana), Heidi Heitkamp (D-North Dakota), Jon Tester (D-Montana) and Mark Warner (D-Virginia), along with other senators, announced an agreement on legislative proposals to improve our nation’s financial regulatory framework and promote economic growth. 

House Passes Five-Year Flood Insurance Reauthorization
In a bipartisan 237-189 vote last night, the House passed H.R. 2874, which would reauthorize the National Flood Insurance Program for up to five years. In addition to extending the NFIP before it expires next month, and thus providing greater certainty to lenders and borrowers, the legislation also includes updates to interagency guidance and mandatory staffing that will facilitate compliance.

N.Y. Fed: Household Debt Nears New Record of $13 Trillion
Outstanding household debt increased by 0.9 percent in the third quarter, rising by $116 billion to total $12.96 trillion according to the Federal Reserve Bank of New York. The quarterly increase set a new record and is now 16.2 percent higher than its most recent low point in 2013.

*click on headline for details

 
 






SAVE THE DATE

Board & Management Summit
March 9, 2018

Womens Leadership Bootcamp
April 9, 2018

114th Annual Conference
May 16, 2018

Women in Banking Conference
June 13, 2018

See njbankers.com for details.

Other Industry Meetings
View Other Meetings
Mark Your Calendar
View Upcoming Events
 
Member News

Unity Bank Receives Prestigious 5-Star Rating from BauerFinancial
Unity Bank has received the prestigious “5-Star Rating” from BauerFinancial, Inc., the nation’s leading independent bank and credit union rating and research firm. The 5-Star rating is the highest ranking the banking industry research firm can assign a financial institution.

Valley National Bancorp Announces the Retirement of Gerald H. Lipkin and Appointment of Ira Robbins as CEO
Valley National Bancorp, the holding company for Valley National Bank (“Bank”) announced the retirement of Gerald H. Lipkin as Chief Executive Officer, effective December 31, 2017. Ira Robbins has been selected by the Board of Directors to assume the position of Chief Executive Officer of both Valley and the Bank. Robbins will also become a member of the Board of Valley National Bancorp. Robbins will continue to serve as President and a Director of Valley National Bank.

*click on headline for details

 
Industry Benchmarks and Insights for Compensation, Benefits, and Incentives

We are pleased to offer the results of our NJBankers and Crowe Horwath 2017 Bank Compensation and Benefits Survey. This survey represents our commitment to providing you with information to help you gain a competitive advantage within your banking segment. 

Get the latest benchmarks for salary and bonuses for 263 job positions and also useful information on:
> Projections for salary raises
> Benefit programs
> Incentive programs
> Directors’ compensation
> Employee turnover
> Training programs
> Top human resource concerns
> Other human resource practices
The reports have breakdowns by asset range and are available for certain regions and states.

Purchase Survey Report
https://www.crowehorwath.com/compsurvey-njba

Order your copy today!

 
Registering for an NJBankers Seminar Has Never Been Easier!
Registering for an NJBankers seminar or conference has never been easier! At checkout, registrants can now pay by credit card or even select a “pay later” feature! Credit card checkout is easy and we safeguard your information. Pay later allows for payment under separate cover or we can send an invoice.
 
Just two more ways to ensure that your professional development needs are met. Take a look at the many seminars and conferences available to you by visiting www.NJBankers.com.
 


Don’t miss out on the chance to develop new business leads, meet, and network with the Garden State’s leading decision makers. For the seventh year in a row, the Economic Leadership Forum will be an opportunity to hear from key thinkers on the issues that shape our great Garden State. Our impressive roster of speakers will provide an in-depth view of New Jersey’s current and future business issues. Several sponsorship levels are available. Read More

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

Directors College with FDIC
Friday, December 1, 2017
Pines Manor, Edison, NJ
A bank’s board of directors serves a critical role in the successful, healthy operation of the bank. The Directors Certification Training Program validates that board members for financial institutions located in New Jersey are well trained for understanding the issues that mitigate risk in order to lead their bank with prudent corporate governance practices.

Operations & Technology Roundtable
CYBER SECURITY SUMMIT
Thursday, December 7, 2017
Ocean Place Hotel, Long Branch, NJ
Enjoy a session that will review the differences in policies, how to respond to a breach, and the new cyber attacks bankers should be aware of and more. The Framework is voluntary guidance, based on existing standards, guidelines, and practices, for organizations to better manage and reduce cybersecurity risk. A discussion about NIST and the forthcoming cyber regulations is a presentation not to be missed! Your afternoon will consist of a Data Breach Case Study where you will experience a response to a data breach from the beginning. Rather than a lecture from 20,000 feet, this interactive presentation will take information down to the ground level and walk through the various decisions that your bank might need to make along the way.

BankHorizons
Thursday-Friday, December 7-8, 2017

Ocean Place Hotel, Long Branch, NJ 
BankHorizons is right around the corner. Attendees will once again have the opportunity to network with peers, discover one-of-a-kind solutions from leaders in the banking community, and learn about the latest products and services revolutionizing the industry! This year Holly Hoffman, the last woman standing on Survivor: Nicaragua, will join us and sign her book, Your Winner Within.

 
NJBankers Leadership Academy

Unlocking Your Leadership Style with DISC
November 16, 2017
NJBankers Office
Cranford, NJ
The foundation of effective leadership lies in understanding self, understanding others and realizing the impact of personal behavior on the people around you. The DISC Assessment® has unlocked the door to productive communication and relationships for over 20 million people, worldwide.

Advanced Leadership:  Leading Your Managers
December 5, 2017
NJBankers Office
Cranford, NJ
Leading your managers who have direct reports requires a very different skill set than managing a team of individual contributors. To be effective in that role, leaders need to move beyond making sure that work expectations are met and focus more heavily on coaching their managers to support and develop their teams.

Emerging Bank Leaders Program
The Emerging Bank Leaders Program is designed to enhance the organizational, performance, and leadership skills of highly motivated managers who have the potential to become future leaders in the banking industry. The program’s content is designed to develop emerging bank leaders in the areas of leading change, maximizing team development, talent development/performance management, communication effectiveness, strategic banking, and individual development planning.

Directors Training Web Seminars
The Webinar Package offers all of your directors and staff approximately 25 one-hour web-seminars (a year) that can be viewed live or at any subsequent time on an unlimited basis.  

 
Associate Member News

BFS Group Announces the addition of Tara Bianchino as Director of Compliance & Operations
Tara Bianchino joins BFS Group with over 15 years of insurance & financial services experience.  Prior to joining BFS Group, Bianchino served as the Director of Network Office Supervision for Northwestern Mutual Life Insurance Company in Princeton, NJ.  She brings along her knowledge of compliance with Northwestern Mutual's policies and procedures to BFS Group. 

CFT Presents 2017 Fall Commercial Lending School

The Commercial Lending School curriculum is used by banking schools across the United States.  It delivers in-depth training in all facets of commercial lending, with an emphasis on financial analysis, cash flow versus profit, and loan structure.

*click on headline for details

 
What are you going to do about it?
Patrick Dix, VP Public Relations, SHAZAM

Thank you Associate Member SHAZAM for this content.

Just last month, in thousands of places across the country, on roads crowded with commuters, listening to the morning news on the radio … thousands of accidents nearly happened simultaneously. As they enjoyed a few sips of their morning coffee and tried to prioritize the day, bankers on their way to work heard a voice come over the speakers they recognized immediately.  The Head of the Consumer Financial Protection Bureau (CFPB) was being introduced by the NPR host.  It was day after the Senate repealed a CFPB rule that would limit companies’ ability to use arbitration in agreements and make it easier for consumers to sue banks. Read More

 
Register Today for NJ Bank Marketing Seminar: Forecast 2018

Thursday, December 7, 2017
8:30 a.m. - 11:30 a.m.
Holiday Inn Express, Clark, NJ
Traditionally, the Forecast Meeting draws the largest audience and this one should be no exception. In fact, it promises to be one of the best with three outstanding professionals from banking, business and journalism presenting their views and predictions for New Jersey in 2018. Each has been recognized by their peers for leadership and outstanding achievement in their respective disciplines. Don't miss this one, register today!

Read More

 
Save the Dates for this spring's NJ March for Babies

Each week in NJ, 227 babies are born too soon. As a result, they can face serious health complications, physical and learning disabilities and some will not reach their first birthday.  March for Babies is the number one fundraising event for the March of Dimes that brings walkers, volunteers and sponsors together to celebrate their community. Coworkers, families and friends participate to fight premature birth and give more babies a healthy start. It’s never too soon to begin planning for this initiative. Here’s how you can get involved. Click here.

 
Individual Seeks Employment

Compliance Officer with CPA | CAMS | MBA monitors business activities and regulatory compliance for U.S. operations of an international bank. Ensure that U.S. offices remain in compliance with regulatory guidelines. Key skills include:  Transaction Monitoring; OFAC Sanctions Screening; KYC | CDD | EDD; BSA-AMLTraining; SAR’s; Quality Control reviews; Risk Rating; Audit.

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

 

        

 
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