New Jersey Bankers Association
10/30/19

Industry News

The Federal Reserve and the FDIC are seeking feedback on the consistency and ratings assigned to financial institutions under the Uniform Financial Institutions Rating System. In particular, the agencies are seeking comments on how CAMELS ratings are assigned and the implications of these ratings in the enforcement action processes. The agencies noted that they are not proposing to modify the CAMELS rating definitions, which are issued by the Federal Financial Institutions Examination Council.

The OCC has finalized the first changes in two decades to its regulations on other real estate owned, or OREO. The rule—which is being adopted substantially as proposed in April—seeks to streamline and clarify OREO rules for national banks, while updating the framework for OREO activities at federal savings associations.

The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country.
 
In a significant move that could encourage more banks to engage in Federal Housing Administration lending, the Department of Justice and the Department of Housing and Urban Development announced that they have signed a memorandum of understanding on how they will address potential violations under the False Claims Act.

The Consumer Financial Protection Bureau will hold a symposium on Section 1071 of the Dodd-Frank Act, which amended the Equal Credit Opportunity Act to require financial institutions to collect and make publicly available data on credit applications by women-owned, minority-owned and small businesses.
 
With synthetic ID fraud—a tactic by which fraudsters use a combination of fake and legitimate information to create new identities—on the rise, a new white paper from the Federal Reserve’s FedPayments Improvement initiative examines how to detect and prevent it.  
 
The Labor Department has issued its much-awaited proposal that would modernize retirement disclosures by providing a new safe harbor for employee benefit plan administrators to use electronic delivery for participant notices and disclosures.
 
A federal judge in New York has blocked the OCC from issuing charters to non-depository special-purpose national banks, as the agency first proposed to do in 2016. The so-called fintech charter would have provided fintech firms with a consistent nationwide regulatory framework and would have imposed bank-like standards for capital, regulatory compliance and financial inclusion.

 


Member News

Ryan Greer Has Joined Lakeland Bank as VP, Commercial Relationship Manager

Greer has 18 years of lending experience and will be responsible for driving new business within the commercial real estate lending division.

URSB Hires Two Senior-Level Executives

Carlo R. Pascetta has joined URSB as Vice President – Lending, CRA Officer, while David P. Van Steyn is the Bank’s new Vice President – Chief Risk Officer. Van Steyn brings over ten years of experience in the banking sector, including tenure as a Chief Operating Officer. Pascetta brings over 45 years of banking experience, specializing in auditing and lending.

Provident Bank Promotes Three Executives

Provident Bank has announced the promotion of three executives. Robert Vivo has been promoted to Senior Vice President, Regional Director and Darleen Gillespie and Paula Palermo will now both serve as First Vice President, Regional Manager and report to Vivo.

 


Endorsed Service Provider News

Pentegra Appoints Matthew Mintzer Executive Vice President

Mintzer will head Pentegra Sales and Marketing, Client Services and Operations.

PMC's Fall 2019 IRA Workshops - Register Today!
November 20 - 21, 2019 - NJBankers Office, Cranford
Get Prepared Now!

Information about IRAs (and HSAs) can be a lot to digest for the banker and the customer! You need to be ready with up-to-the-second information about the advantages and potential setbacks of contributions, distributions, rollovers, conversions, transfers and inherited IRAs.

Whether you are new to the industry or a seasoned professional, NJBankers Endorsed Service Provider PMC, a leader in  banker education for IRAs, guarantees that their 1 or 2-day workshops will build the confidence and ability to understand these valued products so attendees can provide the best service and expertise to your customers and prospects, especially the Baby Boomers who are nearing retirement.

 


Associate Member News

November 6 - 2:00 pm or November 12 - 11:00 am
The webinar will review critical performance and trends of the nation's "true" community banks.
 
Barnett Einhorn, a partner with the firm, was recognized by Leading Women Entrepreneurs and Business Owners (LWE).
 
The addition of the attorneys marks the latest expansion of the firm in an array of focus areas.
 
Listen to the conversation with Trish Wellenbach, CEO, Please Touch Museum and Board Member , Thomas Jefferson University + Stonemor Partners 
 
Abe Kasbo, CEO of Verasoni Worldwide, presents his take in this short video "Failure of Organic Social Media: Time to get real.


EFLG Supports Grow a Row to Harvest Fresh Produce

On October 17th, 28 members of the EFLG (Emerging Financial Leaders Group), as their philanthropic activity, headed to a Pittstown farm to harvest and glean apples and hot peppers, and help pack up winter squash for the Grow A Row initiative.  The team had a great time working and accomplished everything that was asked and were so efficient that they were able to wrap up a little early. The team helped harvest 5,000 pounds of apples and hot peppers.  That will provide about 20,000 servings of farm fresh produce for so many of our neighbors struggling with food insecurity.  
 
Providing fresh fruits and vegetables to those who do not have access can be life changing.  The hard work and willingness to give up a day will help to provide a healthier life for those who do not have access to fresh, healthy produce.  Congratulations to the team!
 


2020 Economic Leadership Forum - REGISTRATION OPEN!

Friday, January 17, 2020
Don’t miss the Garden State’s Most Compelling Economic Conference!
The Economic Leadership Forum is an opportunity to hear from key thinkers and influencers on the issues that shape our great Garden State. The Forum boasts a line-up of Keynote Speakers not to be missed! 
 
Hear from Steve Forbes, Chairman/Editor-in-Chief, Forbes Media and Internationally Respected Authority in Economics, Finance & Corporate Leadership. Patrick Harker, President/CEO of the Federal Reserve Bank of Philadelphia and participant on the FOMC will discuss monetary policy. We also welcome Jelena McWilliams, the Chairman of the FDIC. And don’t forget Karl Rove, Former Deputy Chief of Staff and Senior Advisor to President George W. Bush Foremost Conservative Commentator & Strategist. 
 
We’ll also have Break-Out Sessions on topics that include D&I; Low Income Housing Tax Credits and Opportunity Zones; How Community Bank Data Reveals a Hidden Portrait of the U.S. Economy; and Explainable Artificial Intelligence (XAI) Based Credit & Fraud Risk Modeling.
 
Attendance grows with each year so register today so you can hear from the best and network with New Jersey’s influential business leaders. Don’t miss out on the chance to develop new business leads, meet, and network with the Garden State’s leading decision makers. Sponsorships are available.
 


116th Annual Conference - San Diego Here We Come! ROOM BLOCK IS OPEN

May 27 - 31, 2020 
Manchester Grand Hyatt San Diego
San Diego, CA
We mean it!
BOOK YOUR HOTEL NOW
 
The hotel expects to be sold out so don’t delay. On the fence? Just take a look at our slide presentation of what’s in store for you at the Annual Conference in addition to the expert speakers, timely topics and networking. There’re direct flights and May weather couldn’t be any nicer. Take a look at what’s in store (wait until you see the opening reception)! 
 


Leap into 2020: Demonstrate Directors are Informed and Take Advantage of a Fantastic Bonus!

Jointly developed by FinPro and NJBankers, the Global Webinar Package is a multifaceted program designed for Bank Directors to demonstrate that they are keeping abreast of industry developments and trends. Senior executives will also benefit from this package. 

 It is a series of 24, 60-minute webinars, offered throughout the year. All webinars are recorded should a director or senior executive be unable to attend a live webinar. CPE credits  apply to live webinars as well so ask for details. 

If you sign up by December 12th, you’ll receive, As A Bonus, access to all 2019 webinar recordings. Take a look at details of the package. For questions, contact Jenn Zorn, jzorn@njbankers.com or 908-272-8500 x611.

 

 


Emerging Bank Leaders 2020 Program- Apply Today

Emerging leaders are intelligent and talented high-achievers who consistently produce noteworthy and more work than their peers.  They initiate new ways of thinking and are proponents of taking risks and looking for opportunities to further their financial institution. Colleagues turn to them when they need information because they are trusted and knowledgeable. An Emerging Leader is driven to accomplish great things.
 
The Emerging Bank Leaders 2020 Program enhances the organizational, performance, and leadership skills of highly motivated managers. The program develops their talent so they will become a leader and an asset for your bank. Applications are now being taken. Don't miss this educational opportunity to develop from an emerging leader to a great leader! 



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

CFO Conference with  FMS - NY/NJ

November 14, 2019

Get deep insights and breaking-news updates delivered by industry experts at the NJBankers – FMS NY/NJ Chapter CFO Conference. Presented by the names you can trust for delivering effective programs, the CFO Conference offers relevant and tangible tools for bank CFOs.


Other Industry Meetings


Mark Your Calendar


JVSNJ Strictly Business 2019 Features the Honorable Jacob J. -Jack- Lew

Strictly Business is a breakfast and networking event for business owners and leaders in the Greater MetroWest community, including Essex, Union, and Morris counties.
 
On Friday, November 15, 2019, from 7:30 a.m. to 8:30 a.m., the Honorable Jacob J. “Jack” Lew, former 76th U.S. Secretary of the Treasury/White House Chief of Staff/Director of the Office of Management and Budget will address the attendees of Strictly Business 2019. Buy tickets by visiting https://jvsnj.org/event/strictlybusiness2019/. For information about becoming a Corporate Sponsor, Table Sponsor or Table Captain, contact Barbara Raynor at 862-704-2262 or braynor@jvsnj.org.


Motivated College Student Seeks Career in Banking

A motivated college graduate, team player and detail-oriented individual seeking a career within the finance industry where the candidate can utilize their education and analytical skills in a corporate environment. For a copy of the resume, email Emily DeMasi at edemasi@njbankers.com.



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