February 6, 2019
New Jersey Bankers Association
Industry News

Fed and FDIC Issue Advisory on Education Loan Rehabilitation Programs
The Federal Reserve and FDIC have issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.

Senior Loan Officer Survey Finds that Banks Project Tighter Loan Terms and Standards in 2019
Modest net percentages of banks tightened terms and standards for business loans in the previous quarter, with standards for the most part remaining unchanged, according to the Federal Reserve’s latest senior loan officer opinion survey. For large and midsize firms, more banks offered larger credit lines with longer maturities, while also increasing costs, spreads and riskier loan premiums. For smaller firms, however, more banks on net also reduced credit line size and maturities, while they were more likely to cut credit line costs and reduce spreads.
OCC Releases Dodd-Frank Act Stress Test Scenarios for 2019
The Office of the Comptroller of the Currency (OCC) has released economic and financial market scenarios for use in the upcoming stress tests for covered institutions.

FinCEN Alerts Banks to Suspected 314(b) Phishing Attempts

The Financial Crimes Enforcement Network (FinCEN) is aware of a fraudulent email purporting to be from a financial institution regarding the 314(b) Information Sharing Program. The body of the email contains the following language: "We've got suspicions transfer from your client, and put it on hold. According section 314(b) of the USA PATRIOT Act we have to report you about potential money laundering. Please review the attached document with details of this case." If you receive an email with this text purporting to be from another financial institution, FinCEN asks that you disregard the email. 

J.D. Power Report: Consumers Seek Financial Advice from Their Bank
More than three-fourths (78%) of U.S. retail bank customers say they are interested in receiving financial advice or guidance from their bank. Nearly six of 10 customers (58%) say their preferred means of receiving advice is digital content delivered through a bank website or mobile app.
Waters Announces Subcommittee Assignments
Following the announcement of House Financial Services Subcommittee Chairs, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, announced Subcommittee assignments for the 116th Congress. 

Shared National Credit Review Finds Some Improvement in Credit Quality, Risk Remains Elevated in Leveraged Loans
Federal banking agencies find that risk in the portfolio of large syndicated bank loans has declined, due to improving conditions in most sectors. Despite the improvement, the dollar volume of loans rated below “pass,” as a percentage of total loans, remains elevated compared with levels experienced in prior economic cycles, according to the Shared National Credit (SNC) Program Review.

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 In This Issue...
Emerging Financial Leaders Group Kicks-off Really Tasty Event
A History of BCG - Still #1
BCG Distributes $300,000 in Patronage Dividends
Industry News
Member News
Associate Member News
NJBankers Welcomes New Member
Other Industry Meetings
115th Annual Conference
Upcoming NJBankers Conferences - Don't Miss Out on Opportunities for Professional Development!
Get Recognized For all you do in the Communities you serve!
NJBankers 2019 Service Award Program
Morris Habitat's Leadership Council is pleased to announce the 14th Annual hearts and Hammers Gala
FMS NY/NJ Chapter Releases Professional Development Opportunities for 2019
Bank Trainers 2019 Conference and Expo
PMC's 2019 IRA Reference Volumes & Upcoming Winter/Spring 2019 IRA Seminar Tour
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