ABA Banking Journal
October 9, 2020

This ABA Banking Journal newsletter is a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news. You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.

SAR Writing: Using Purpose and Clarity to Aid Law Enforcement
SAR writing is easier said than done. BSA officers often ask, “What happens to our SARs once submitted? Is anyone even reading this information? How do I alert law enforcement to COVID-19 related fraud?”
Click here to learn MORE
Industry News
ABA congratulates the women named to American Banker magazine’s “Most Powerful Women in Banking,” “Women to Watch in Banking” and “Most Powerful Women in Finance” lists for 2020. (ABA Banking Journal)
Commercial real estate has faced substantial headwinds from stay-at-home orders and changing consumer behavior, and in many cases CRE has not received the same level of support available to consumers and small businesses. (ABA Banking Journal)
Now is the time to fully embrace and engage not just the online account opening process but smart digital marketing to support it. (ABA Bank Marketing)
Streamlining the process of managing disclosures will make it easier to stay compliant and reduce costs and timelines significantly, all while improving customer experience. (ABA Banking Journal)
Data Center, Inc. (DCI)
Computer Services Inc
Jack Henry & Associates, Inc.
New Deposits at a Fraction of the Cost
By utilizing two key Jack Henry solutions, the SilverLake System® core processing platform and the Banno Digital Platform™, St. Louis-based Midwest BankCentre launched a separately branded digital institution (Rising Bank) in only six months. In its first year, Rising gathered over $130 million in new deposits at a fraction of the cost of traditional branch banking.

Read the Celent case study.
Policy News
In a letter to the Internal Revenue Service, ABA and several insurance trade groups requested that the IRS make permanent temporary relief from the physical presence requirement for spousal consent. (ABA Banking Journal)
The OCC has released its bank supervision operating plan for fiscal year 2021, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year that started Oct. 1. (ABA Banking Journal)
The OCC, the Federal Reserve and the FDIC have adopted a final rule that codifies temporary changes to changes to the community bank leverage ratio and addresses the transition process for banks using the CBLR framework. (ABA Banking Journal)
ABA joined a broad coalition of advocacy groups from different industries in a letter urging House and Senate Armed Services Committee leaders to include the Corporate Transparency Act in the final National Defense Authorization Act for fiscal year 2021. (ABA Banking Journal)
Appraisal Institute
Cummins Allison
Columbia Business School Executive Education®
The Strategic Leader Program (Live Online): How to Excel as Your Responsibility Increases
Designed for leaders transitioning to senior executive roles, this six-day program from Columbia Business School Executive Education broadens your knowledge, perspective, and understanding of strategic leadership, equipping you to deal with the demands of the more complex and disruptive environment of tomorrow.
The program offers concepts and tools that will enable you to enhance your personal, strategic, and interpersonal effectiveness.
The program begins October 4.

Learn More

October 12 - November 6
Facilitated Online Training: Bank Lines of Business

October 14
Webinar: Emerging Claims in a Pandemic Environment

October 15
Webinar: Motivating Teens and Young Adults to Save for the Unexpected

October 19-20
ABA Unconventional Convention

October 19 - January 22, 2021
Facilitated Online Training: Commercial Lending

October 21
Webinar: Holiday Shopping During COVID: Protecting Your Customers and Your Bank

October 22
Webinar: Next Generation Digital Lending in a Post-COVID Era

October 22
Webinar: Document Review Trends and Leading Industry Practices for Corporate Trustees

October 26 – November 6
Virtual Online School: Wealth and Trust School – Intermediate

November 30 – December 11
Virtual Online School: Wealth and Trust School – Advanced

Decemebr 8-10
Virtual Conference: ABA/ABA Financial Crimes Enforcement Conference

Coronavirus News
Among a variety of potential outcomes suggested in a recent survey, development of a COVID-19 vaccine was the most likely to influence consumers to return to normal spending levels. (ABA Banking Journal)
Mortgage lenders said their biggest challenges due to the pandemic include the health and safety of their staff, supply chain disruptions and a lack of clarity on loan eligibility and forbearance programs, according to a new report by Fannie Mae that surveyed more than 250 senior mortgage executives. (ABA Banking Journal)
The Federal Reserve, the FDIC and the OCC have finalized two rules intended to help banks respond to the challenges of the coronavirus pandemic. (ABA Banking Journal)
The Small Business Administration and Treasury Department have recently updated the Paycheck Protection Program FAQs to address the deferral period extension granted by the PPP Flexibility Act of 2020.
By implementing a few changes, banks’ financial crime and compliance teams can become more agile, efficient and effective in a challenging time. (ABA Risk & Compliance)
Banks are trying new ways to inspire their communities to bring in coins, which are not circulating as much as usual because of the coronavirus shutdown. (ABA Banking Journal)



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