ABA Banking Journal
March 12, 2021

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.

Industry News
The banking industry can be proud of how it stepped up—virtually overnight—to keep society moving in the face of perilous uncertainty.
 
Ensuring that your bank stays up to date with current digital trends, especially when it comes to marketing and communications, matters more than ever.
 
The Consumer Price Index increased 0.4% in February on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the all items index increased 1.7%.
 
Data Center, Inc. (DCI)
Computer Services Inc
When Gilda Nogueira’s family immigrated to the United States, East Cambridge Savings Bank in Cambridge, Massachusetts, helped them land on their feet and begin their new life in America. Today, Nogueira pays this opportunity forward through community banking as president and CEO of ECSB.
 
Banking regulators have increasingly used offsite examinations procedures for certain types of monitoring and examination work. During the COVID-19 pandemic, nearly all supervisory events have become virtual. A few tips on how to enhance your bank’s virtual exam approach.
 
Earlier this week, President Biden visited W.S. Jenks & Son, a D.C.-area hardware store that—according to Small Business Administration data—received a Paycheck Protection Program loan from Truist Bank in April 2020. That loan helped keep employees on the payroll during the pandemic.
 
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.
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Policy News
As Congress passed the $1.9 trillion COVID-19 relief bill—which includes an additional round of economic impact payments for eligible taxpayers—ABA joined a coalition of financial and consumer advocacy groups urging Treasury Secretary Janet Yellen to support standalone legislation to ensure that these payments are shielded from assignment and garnishment.
 
ABA  has written to the National Credit Union Administration seeking a 60-day extension to the 30-day comment period on a proposal to amend NCUA’s credit union service organization regulation.
 
In two comment letters to the Federal Housing Finance Agency, ABA weighed in on proposed changes to liquidity requirements for Fannie Mae and Freddie Mac, as well as proposed changes to resolution planning requirements for the two GSEs.
 
First Source
Naylor Association Solutions
In response to concerns raised by industry stakeholders including ABA, the Department of Labor will revisit its recent final rules regarding environmental, social or governance investing and a fiduciary’s proxy voting activity under the Employee Retirement Income Security Act.
 
The Federal Reserve, FDIC and OCC have announced an interim final rule allowing Treasury investments made to community development financial institutions and minority depository institutions under the newly established Emergency Capital Investment program qualify as regulatory capital. Comments are due 60 days after publication in the Federal Register.
 
The Federal Reserve has clarified its guidance on how it defines minority depository institutions, and expanded its definition to include women-owned financial institutions.
 
Columbia Business School Executive Education®
Driving Strategic Impact (Live Online)
This five-day virtual program will enable you to acquire tools used by top-tier consulting firms to become more effective at analyzing and resolving strategic problems for your organization and clients.

The program is organized around the core skill of structured problem solving, which takes participants through five phases: defining the problem, structuring the problem, conducting analysis, developing recommendations, and communicating for impact.

The program begins May 3.

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Training

March 15 - July 2
Facilitated Training: General Accounting

March 16 - 17
Virtual Conference: Washington Summit

March 17
Webinar: CECL in 2023: Best Practices Learned from SEC Filers

March 17 - 26
Virtual School: Compliance School – Intermediate

March 18
Webinar: How to Boost Your Business Customers

March 22 - April 16
Facilitated Training: Marketing Management

March 22 - April 23
Facilitated Training: Managing the Bank's Investment Portfolio

March 22 - June 4
Facilitated Training: Legal Foundations in Banking

March 23
Virtual Conference: American Mortgage Conference

March 23 - 25
Virtual Conference: ABA Risk 2021

March 24
Webinar: Teach Children to Save eLearning Resources for Grades K-8

March 25
Webinar: Explore ABA's Tax & Accounting Resources

March 29 - April 8
Virtual School: Wealth and Trust School – Foundational

March 30
Webinar: One Year On from COVID-19: The Dramatic Changes Occurring in the ATM Distribution Channel

 
 

 

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