If this page doesn't display properly in your email, click here. July 24, 2019
New Jersey Bankers Association
NJBankers in the News

NJBankers President/CEO John McWeeney, Jr. was recently on Jersey Matters to discuss elder abuse and the efforts banks make for protecting senior citizens against financial fraud. John quoted some statistics noting that 3.5 million seniors have fallen to some type of elder abuse with $2.9 billion in losses. He also cited that only 1 out of 44 cases are ever reported.

With that, John explained that bankers are often the first to recognize signs of elder financial abuse. He discussed some of those signs and highlighted member efforts to educate seniors and the public about recognizing elder abuse. He also noted that many members have joined the ABA’s initiative “Safe Banking for Seniors”,  a program that provides bankers with the tools and resources necessary to help older adults, their families and caregivers to prevent elder financial abuse and exploitation.

To view the segment, click here 

 
NJBankers is excited to announce a new scholarship, created to support our industry's next generation of community bankers from our great state!
Must be a member of the ICBA

The NextGen Scholarship will provide one community bank member from New Jersey the opportunity to attend the ICBA LEAD FWD Summit Sept. 16‐17 in New Orleans for FREE! That’s registration, airfare, hotel, travel expenses and more, all provided to the scholarship recipient!

The Summit will provide training and insights rooted in leadership development, marketing, personal growth, and a multitude of hot‐topic banking issues including faster payments, cybersecurity, cannabis banking, and succession planning.

To apply, please complete the NextGen Scholarship Form and submit it to Lauren Barraza at lbarraza@njbankers.com by Wednesday, Aug. 14. We have just one scholarship to award to the Summit, so it’s important to apply today!

Click here for more information and application 

 
New York Fed to match financial institutions with CRA-eligible projects

The New York Fed announced that it is launching its Investment Connection program to boost investments in regional community development financing. The program will help match banks with organizations whose needs qualify for credit under the Community Reinvestment Act (CRA). The program’s first phase will begin in Fall 2019 in Puerto Rico, where the New York Fed is working to rebuild the island’s economic resiliency in the aftermath of Hurricane Maria.

Read More 

 
Register Today! Rider University to Host Career Fairs

Members welcome to attend to showcase their bank
September 26 and October 1

NJBankers is engaged in an initiative to establish relationships with New Jersey universities and colleges to support member efforts to recruit and retain highly motivated talent.  The goal is to show the upcoming generation in the workforce that careers in banking are fulfilling and diverse. Bankers can explain that the industry holds positions that support the frontline and include careers in IT, HR, marketing and so many more. 

Register Today for the Fall Accounting & Finance Career Fair on September 26th and the General Career Fair on October 1st. 

Click here for details

 
Industry News

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector grew modestly, according to firms responding to the Federal Reserve Bank of New York’s July 2019 Business Leaders Survey. The survey’s headline business activity index rose four points to 9.7. The business climate index climbed to 4.7, indicating that, on balance, firms regarded the business climate as better than normal.

Joint Agencies Emphasize a Risk-Based Approach to BSA/AML Exams
The Federal Reserve, FDIC, OCC, NCUA and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) have issued a joint statement to emphasize their risk-focused approach to examinations of banks’ Bank Secrecy Act /anti-money laundering (BSA/AML) compliance programs.

CFPB, FTC and States Announce Settlement with Equifax Over 2017 Data Breach
The Consumer Financial Protection Bureau, the Federal Trade Commission, and 48 states, the District of Columbia and Puerto Rico announced a global settlement with Equifax that would provide up to $700 million in monetary relief and penalties. In a complaint and proposed stipulated judgment filed in federal district court in the Northern District of Georgia, the CFPB alleges that Equifax engaged in unfair and deceptive practices in connection with the 2017 data breach of Equifax’s systems that impacted approximately 147 million consumers.
 
FinCEN Warns Banks of Business Email Compromise Scams
Business email compromise schemes, where fraudsters target businesses and their fund transfers, generated more than $300 million a month in illicit revenue during 2018 according to the Financial Crimes Enforcement Network. As it works to combat this type of fraud, the agency issued a trend analysis of BEC schemes, as well as an updated advisory for financial institutions.

CFPB Issues Advisory on Reporting Elder Financial Abuse
The Consumer Financial Protection Bureau has released an advisory to financial institutions for reporting suspected elder financial exploitation. The document updates the CFPB’s 2016 recommendations for preventing and responding to elder financial abuse, and urges financial institutions to report suspected exploitation to the appropriate local, state and federal authorities.

Beige Book: Economic Activity Continues at Modest Pace
Economic activity continued to expand at a modest pace overall from mid-May through early July, with little change from the prior reporting period. In most Districts, sales of retail goods increased slightly overall, although vehicle sales were flat. 

 
 






UPCOMING EVENTS

The Bankers Cup
August 6, 2019

2019 Compliance University
September 11-12, 2019

Annual Senior Management Conference 
September 22, 2019

Cybersecurity Incident Response Planning Seminar 
October 3, 2019

Regulatory Visit to Washington, DC
October 3, 2019

See njbankers.com for details.

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

RSI Bank welcomes Nicholas Ketcha, Jr. to its Board of Directors
RSI Bank is pleased to welcome Nicholas Ketcha, Jr. to its Board of Directors. Mr. Ketcha is well known within the banking community for his career in financial institution oversight and regulation at the Federal Deposit Insurance Corporation and the New Jersey Department of Banking & Insurance.

Cross River names Ballenger its new CFO

Cross River Bank, a provider of banking services for technology companies, has announced it has appointed Melissa Ballenger as its executive vice president and chief financial officer, effective immediately.

Northfield Bank names NJ West Region commercial, industrial lending VP
Northfield Bank has announced the appointment of Doreen Goch as vice president of commercial and industrial lending for the state’s West Region.

Survey finds retirement is top financial concern for N.J. residents
An online survey of New Jersey residents, conducted by Kearny Bank, discovered that more than 25% of respondents’ financial concerns include having enough resources for retirement. Among the youngest adult residents, finding affordable housing was a concern.

As smaller banks make M&A waves, technology is emerging as key to deals
The fanfare of a newly announced merger or acquisition in the banking industry usually provides scant insight into what conversations led to the deal. By then, the details are marketing writ large.

Spencer inks director of commercial, industrial lending
Elmwood Park-based Spencer Savings Bank announced recently it has named Juan H. Oelofse as senior vice president and director of commercial and industrial lending.

Valley Bank Rebrands and Reworks
Wayne-based Valley Bank has been undergoing substantial organizational changes, with its long-time iconic president and CEO Gerald H. Lipkin having retired toward the end of 2017 following a 42-year career at the financial institution. He was then immediately succeeded by the new president and CEO, Ira Robbins. Also, last fall, the bank re-branded from “Valley National Bank” to “Valley Bank.”  Additionally the bank announced it had appointed a new senior vice president and chief financial officer, Michael D. Hagedorn.

 
It's time to nominate your bank's up-and-coming leaders for an NJBankers Rising Star Award!

 

NJBankers Rising Star Awards recognize the up and coming, energetic new leaders of the banking industry. You know who they are at your bank so nominate your rising stars for an award! Let us spotlight their success!

Take advantage of this opportunity to show them that you applaud their achievements, value and service to your bank, the banking industry and the communities they serve with this prestigious award.

It’s simple! Just tell us why you feel your Rising Star deserves an award. Complete a Nomination Form and submit your nomination(s) by Friday, September 6, 2019. A panel of independent judges will review all entries and select the winners who will be notified on Thursday, September 19, 2019 along with the nominator.

All winners will be recognized at the Awards Dinner to be held at the Stone House at Stirling Ridge in Warren, NJ on November 7, 2019.

 

 

 
Endorsed Service Provider News

Community Banking Matters
ICBA Securities Corporation has partnered with Vining Sparks as an exclusively endorsed broker. Save the dates for their webinar series, Community Banking Matters. Take a look at the 2019 webinar dates.

 
Associate Member News

Genova Burns promotes two to counsel
Employment attorney Erica Clifford and commercial litigator Maria Fruci have been promoted to counsel at Genova Burns LLC in Newark.

Plymouth Rock acquires NJ-based motorcycle insurer
Plymouth Rock Assurance announced Tuesday an expanded investment in a specific segment of coverage with its acquisition of the state’s largest – and only exclusive – provider of motorcycle insurance. 

 

 

 
Volunteer Today! NJBankers Continues Philanthropic Parternership with Eva's Village

NJBankers is excited because we will be continuing our philanthropic partnership with Eva’s Village this year. Together we led a highly successful first year with Eva’s Village by donating a total of $30,000 which provided 51,600 meals to homeless and indigent individuals. Members' generosity has been noted and you’ve made a huge difference in people’s lives. We encourage your participation. Volunteer spots fill up fast. Please contact Erin Suckiel at esuckiel@njbankers.com or 908-272-8500 ext. 629 to participate.

 

 

Click here to Register! 

 
The Bankers Cup Golf and Networking Outing
Sponsorships Available!

Tuesday, August 6, 2019 - Fiddlers Elbow Country Club
Join more than 200 NJBankers members for a day of networking and connections at The Bankers Cup. Gain visibility and recognition at our premier golf outing through a sponsorship. Contact Jenn Zorn at 908-272-8500 ext. 611 or jzorn@njbankers.com.    

Thank you to our Sponsors:
Arnold & Porter
Baker Tilly
BDO
Blue Foundry Bank
Boenning & Scattergood
The Bonadio Group
CenterState Bank
Crowe
CEIS Review
Cullen & Dykman
Federal Home Loan Bank of New York
Fiserv
Innovative Finance
Lakeland Bank
Manasquan Bank
The Mercadien Group
Mosteller
Newfield National Bank
Peapack-Gladstone Bank
Ramirez & Co
Riker Danzig
Roselle Bank
RSM
Smith & Wilkinson
Somerset Savings Bank
Two River Community Bank
Unity Bank
Valley
Village Office Supply
Western Technologies
Wolf & Company

Read More 

 
NJBankers Senior Management Conference

Sunday, September 22, 2019 – Tuesday, September 24, 2019

Registration is now open!
Your guidance drives the success of your bank. Your C-level and Senior management team put your vision into action. Your directors have the duty to govern your bank prudently.

At the Senior Management Conference, discover the top trends and topics that will help you guide your bank to excellence. Learn how AI isn’t science fiction but a solution. Explore if M&A is the way to drive deposits. Examine the most frightening cybersecurity threats. And that’s just the General Session. Take a look at the program and take advantage of a Conference combining the information you need with social & networking opportunities like receptions with savory and sweet treats, the acclaimed golf tournament & fishing excursion.

This year, take advantage of the early bird discount if you register by August 23rd

Make your hotel reservations NOW at https://book.passkey.com/go/GBNJA19.

Room reservations may be made by calling Borgata Hotel & Casino at: 609-317-1000 and identifying yourself as an attendee of NJBankers Senior Management Conference Group Code: GBNJA19 or online at:
https://book.passkey.com/event/49676682/owner/9863/home

Reservations must be received by August 26, 2019. Any requests for rooms after that date will be handled on a space-available basis only.

Check out the Program here! 

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

2019 Compliance Conference
Wednesday, September 11, 2019 - Thursday, September 12, 2019
The Sheraton Edison Raritan Center

Compliance managers must first identify the most significant compliance risks and then propose and maintain controls to mitigate those risks. Questions continue to emerge and Compliance University presents timely topics to ensure that you have the tools for a successful compliance program.

Cybersecurity Incident Response Planning Seminar
Thursday, October 3, 2019 
NJBankers Office, Cranford

In this highly interactive workshop, attendees will learn how to build and implement an incident response program. Participants will be taken through the six phases of the framework: Preparation, Identification, Containment, Eradication, Recovery and Lessons learned, to understand the practical application of each element.
Attendees will partake in real world scenario testing and work in teams to develop appropriate responses to attacks.

Regulatory Visit to Washington D.C.
Thursday-Friday, October 3-4, 2019
There’s empathy and movement in Washington regarding the regulatory burden on banks and the ability to address the needs of consumers and businesses in the communities they serve. Success on the regulatory front depends on action and NJBankers is providing the opportunity to be heard. The Regulatory Visit to Washington connects NJBankers members with the FDIC, OCC, Federal Reserve, CFPB, FHFA and Treasury for two days in the nation’s capital. Your participation is vital so regulators understand the concerns of the banking industry and incorporate them into their guidance. Join us!

 
FDIC and CFPB Host Webinar on Elder Financial Abuse Prevention

Encourages Collaboration between Financial Institutions and Law Enforcement
July 25, 2019 2:00 to 3:00 pm ET

The Federal Deposit Insurance Corporation and Consumer Financial Protection Bureau are co-hosting a webinar to outline strategies to address and prevent elder financial abuse. In particular, the webinar will focus on the benefits of appropriate collaboration between financial institutions and law enforcement regarding this issue, and will provide financial institutions with resources and strategies to develop strategic relationships. The webinar will take place on July 25, 2019 from 2:00 p.m. to 3:00 p.m. ET.

In addition, the webinar will discuss the unique challenges involved in detecting and preventing elder financial abuse, and will explain how Suspicious Activity Report (SAR) filings can be used to combat it. Registration is available online.

 
FMS NY/NJ Chapter announces East Coast Regional Conference

September 8 - 10, 2019
Long Branch, NJ

The Financial Managers Society New York/New Jersey Chapter invites you to attend the FMS East Coast Regional Conference designed to explore trending topics that can provide attendees with a competitive edge.

Read More 

 
2019 Director Webinar Package

Bank boards are under regulatory, economic and competitive pressures especially as the banking industry continues to innovate and evolve.  The 2019 Director Webinar Series, a partnership between NJBankers and FinPro, is a year-long series of educational opportunities designed to address prudent governance, mitigate risk, and develop effective supervision skills.

Whether a seasoned director or new to the responsibility, directors will emerge with a focused understanding and tools for providing prudent governance and independent guidance to bank leadership. Take advantage of this program and demonstrate that the Board is active and the bank compliant.

Read More 

 

        

 
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