If this page doesn't display properly in your email, click here. July 22, 2020
New Jersey Bankers Association
NJBankers Board of Directors Nominate Kemly to FHLBNY Board

Thomas Kemly, President & CEO of Columbia Bank was selected by NJBankers board of directors as the recommended candidate for the upcoming election to fill the open seat on the board of directors of the Federal Home Loan Bank of New York.  We encourage all members to support Mr. Kemly in the upcoming election.

NJBankers in the News

Coin shortage: COVID-19 stole our change, and this is what stores are doing to get more
In the midst of a nationwide coin shortage, some retailers are asking for customers to use exact change, if possible, or even better, use a credit or debit card for payment.

Industry News

OCC Issues Long-Awaited ‘True Lender’ Proposal
In a long-awaited move, the OCC yesterday issued a proposal establishing a “clear test” to determine when a bank making a loan is considered the “true lender” in the context of a partnership between a bank and a third party. Under the proposal, a bank makes a loan if, as of the date of origination, it is named as the lender in the loan agreement or funds the loan.

Federal Reserve Bank of New York Business Leaders Survey
Activity in the region’s service sector held fairly steady, according to firms responding to the Federal Reserve Bank of New York’s July 2020 Business Leaders Survey. The survey’s headline business activity index climbed thirty-eight points to -1.8. The business climate index rose seven points, but at -75.4, it indicated that the vast majority of firms still viewed the business climate as worse than normal. Employment levels continued to decline, though at a significantly slower pace than last month, and wages held steady.

Fed to Hold Payments Services Fees Steady for 2021
The Federal Reserve announced yesterday that it will maintain its current fee schedules for priced services for most payments services in 2021. The Fed acknowledged the uncertainties created by the coronavirus pandemic and said it intends to hold most prices steady “in order to support the business planning of users and providers of payment services.” The Fed said it will publish a final list of 2021 fee schedules in the Federal Register later this year.

ICBA pushing stimulus recs as Senate debate nears
With the Senate expected to begin debating the next economic stimulus package this week, ICBA is calling on community bankers to weigh in with recommendations that support local communities. Community bankers can use ICBA's Be Heard grassroots action center to urge Congress to advance needed Paycheck Protection Program reforms as well as capital, accounting, and tax relief.

ABA Publishes Guide to Help Banks Implement, Enforce Mask Policies
With ABA earlier this week encouraging banks to adopt and publicly announce a policy requiring anyone entering a bank branch to wear a mask or face covering, the association has published a list of suggestions for putting such policies successfully in place 

ABA Continues Grassroots Call: Support PPP Forgiveness Legislation
ABA continues urging bankers to use the Secure American Opportunity grassroots platform to ask their senators to support legislation that would significantly streamline the forgiveness process for loans made through the Paycheck Protection Program.

Fed Expands MSLP to Serve Broader Range of Nonprofits
The Federal Reserve on Friday expanded the Main Street Lending Program to permit access for a broader range of 501(c)(3) and 501(c)(19) nonprofit organizations.

Spotlight your Frontline Bankers

Show off your frontline bankers and the tremendous work they are doing around the clock to serve their customers and communities. Send us a short write-up and feature your frontline bankers in NJBankers Connections. Our industry should be very proud of our accomplishments, let's tell our story! Send your write-up to: Erin Attilio at esuckiel@njbankers.com.


Other Industry Meetings
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Upcoming Webinars

Understanding NJ’s Executive and Reopening Orders
July 29, 2020 

See njbankers.com for details.

The Bankers Cup

August 11, 2020
Fiddlers Elbow Country Club

Join NJBankers for a day of networking and making connections at The Bankers Cup!

To learn more about sponsorship opportunities, contact Jenn Zorn at jzorn@njbankers.com

For event information contact Jess Furino at jfurino@njbankers.com

For registration information contact Cindy Zaccaro at czaccaro@njbankers.com

Click here to Register!

Click here for Sponsorship information

Virtual Senior Management Conference

September 21st – 22nd, 2020

Save the date for NJBankers virtual Senior Management Conference. This year’s conference offers an innovative learning and networking experience.

Experience everything that makes our Senior Management Conference unique- all from the comfort of your own home!

More information will be forthcoming. Please check www.njbankers.com for updates


• Custom Logo Face Masks (joint sponsorship with The Bankers Cup) - $9,000
• Custom Logo Hand Sanitizers (joint sponsorship with The Bankers Cup) - $9,000

For early sponsor inquiries contact Jenn Zorn at jzorn@njbankers.com or 908-272-8500 ext. 611
For event information contact Jess Furino at jfurino@njbankers.com or 908-272-8500 ext. 641

Webinar Wednesdays

In an effort to preserve the continuity of learning and to keep our members engaged and connected during this time, NJBankers is delighted to announce the below upcoming Webinar Wednesdays. Our webinars will feature renowned speakers and experts on a range of relevant and hot topics.  Be on the lookout for emails from NJBankers regarding upcoming webinars as well as a schedule of webinars below:

Understanding NJ’s Executive and Reopening Orders
Wednesday, July 29 2020
10:00 am – 12:00 pm

CLE and CPE credits will apply
Attendees of this webinar will learn New Jersey executive orders and reopening orders related to COVID-19, as well as relevant aspects of federal statues such as Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Check njbankers.com for more upcoming webinars!




Member News

Lakeland Bank Promotes Thomas Stackhouse
Thomas Stackhouse has been promoted to Executive Vice President, Senior Credit Officer based in Oak Ridge, N.J. With more than 25 years of industry experience, Stackhouse will be responsible for asset quality and risk management for the Bank’s loan portfolio.

Valley Bank Partners with Vikar Technologies To Accelerate Loan Processing
Vikar Technologies (“Vikar”), a leading provider of Loan Lifecycle Management solutions announced that Valley Bank (Valley) has selected Vikar to automate their commercial loan onboarding process to improve cycle time, enhance data integrity and to reduce compliance risk.

Wells Fargo Launches $400 Million Small Business Recovery Effort
Following an April 2020 industry-leading commitment to donate all gross processing fees from the Paycheck Protection Program, Wells Fargo unveiled today the details of an approximately $400 million effort to help small businesses impacted by the ongoing COVID-19 pandemic keep their doors open, retain employees, and rebuild.

New Jersey Banker Magazine Digital Copy of Summer Issue Now Available. Be seen by Advertising!

The digital copy of New Jersey Banker magazine can be accessed by clicking here. If you want to reach the New Jersey banking community, you’ll want to advertise. The magazine is sent to bankers, service providers and to a wealth of readers interested in the banking industry.

Click here for advertising rates and get attention! For information about advertising or content submissions, please contact Emily DeMasi, NJBankers VP/Director of Communications at edemasi@njbankers.com. Enjoy reading and don’t miss a golden opportunity to make connections!


Endorsed Member News

ABA Insurance Services Resources to help transition your workforce
Financial institutions nationwide are re-opening to customers. ABA Insurance Services has compiled a list of links that provide suggestions to consider before and during re-opening. Please be sure to follow your local and state guidance from health authorities and your government agencies having jurisdiction. ABA Insurance Services encourage consulting your own national and state associations for resources specific to your situation and state.

Latest SRM Survey Confirms Forward Push in Digital and Payment Activity
SRM (Strategic Resource Management), an independent advisory firm serving financial institutions, has conducted its second diverse sampling among banks and credit unions to evaluate their ongoing response to the effects of COVID-19 in the United States, including observed trends across various consumer banking behaviors.

Navigating The New Credit Cycle - COVID-19 Loans and Emerging Credit Risk
by: David Ruffin, Principal, IntelliCredit 
The COVID-19 virus has brought on the advent of a new and likely treacherous credit cycle. Fortunately, the financial industry has much more capital, more liquidity and better risk management systems than when our previous economic crisis began. Nevertheless, this current sea change will not exempt banks and credit unions from potentially serious economic, operational and credit risks.


Associate Member News

Join Paladin for a ‘Fireside Chat’
Thursday, July 23rd, at 2:00 p.m. ET

Paladin is hosting a ‘Fireside Chat’ with experts from Capgemini, Digitas and Deloitte.  They will discuss how/why organizations are using data and analytics and why it is so important especially in the digital Covid-19 Era. This ties into the marketing strategy for all companies regardless of size.

Meet our Associate Members

Connections is highlighting Associate members and the services they offer to the Banking Industry in each issue


Click here to learn more about these companies services!



Virtual Information Sessions - Ready for the next step in your career?
Learn how Rider University’s graduate programs can help you get there.

July 21-23, 6:00 p.m.

Have questions about your tuition benefits?
As a New Jersey Bankers Association employee or member, you may qualify for a 20% tuition discount on
undergraduate, part-time graduate on-campus and select online programs at Rider University. Visit rider.edu/university-partners and contact Human Resources for details.

Have questions about your program options and admission requirements?
Visit rider.edu/gradstudy for a list of programs. Contact Jamie Mitchell, director of graduate admission at Rider University, at 609-896-5036 or gradadm@rider.edu with questions.

Click Here to Register

Individual Seeks Employment

Versatile Digital Transformation Executive with a proven track record of accelerating technology change for traditional Investment, Commercial, and Consumer banks. Highly effective at transforming Lending Operations, Loan Servicing, Liquidation, Mortgage Services, Digital Payments, Online Banking, Sales, Marketing, Customer Service, and Small Business Administration (SBA) Lending functions. Successful at delivering customer centric technology solutions, managing IT vendors, and establishing digitalization programs to drive significant growth. Consistently appointed to advise executives, partner with business stakeholders, collaborate with consulting firms, and federal regulators on mission critical remediation programs. Provide thought-leadership on the rapidly evolving FinTech landscape for revenue generation opportunities. Author of “How to Become a Digital Leader: A Roadmap to Success,” a guide to simplify emerging technologies and concepts to business leaders.  For a copy of the resume, please contact Erin Attilio, esuckiel@njbankers.com.



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