eNews
May 2020
 

The Virginia Banking eNewsletter is a monthly supplement to Virginia Banking magazine, intended to help you stay on top of industry knowledge via current trends data and insights.

From the VBA

As businesses nationwide begin preparations for employees to return to the workplace, VBA is gathering information on how Virginia banks are working to restore normal business operations and how they will approach reopening branch lobbies and other facilities, employee health screenings and travel policies, among other things. We have developed a Return to Normal Operations resource webpage with new information and updates. Resources include:

  • Guidance from American Bankers Association, Council of State Governments, OSHA and more
  • Screening and temperature check information
  • Articles of interest
  • Information on teller guards, floor graphics and branch screen messages from VBA Endorsed Provider PWCampbell

You can explore those resources here. We will continue to update this page as more information becomes available. 

Beginning May 16, 2020, some VBA emails will be sent from a new IP address to our members. Currently, your firewall should be configured to allow traffic from IP: 66.192.199.137. Please engage your IT personnel who manage your firewall to get the following IP range added: 205.201.40.0 /29 (255.255.255.248).

Please contact Todd Hancock (thancock@vabankers.org) for more information or with questions.

Motleys Asset Disposition Group

Fortis: We've Been Here Before. We Can Help You.
Commercial and Residential Foreclosure Services for Noteholders

We Can Sell It For You. Learn More.
Advertisement
 
Bankers On The Move & Recent Promotions

CornerStone Bank
Zirkle Blakey – Senior Vice President & Chief Financial Officer

Delta Dental of Virginia
FHLBank Atlanta
Industry News & Trends
In this column, ABA President and CEO Rob Nichols shares the many ways that bankers' personal efforts, combined with banks’ institutional responses — waiving fees, offering low-rate personal loan programs, deferring payments and even effectively fronting customers their economic impact payments — demonstrate that banking is first and foremost about helping others through this pandemic. (American Bankers Association)
The Consumer Financial Protection Bureau (CFPB) has issued guidance that mortgage servicers should use to facilitate compliance and prevent harm to consumers during the transfer of residential mortgages. (CFPB Journal)
Fraudsters are attempting to intercept stimulus checks, set up bogus charities and defraud applicants for unemployment benefits. In this podcast, Mike Litt, consumer campaign director of U.S. Public Interest Research Group, discusses what can be done to stop them. (American Banker)
Many financial institutions are sitting on heavy concentrations of commercial real estate portfolios that are going to need significant assistance in the next six to 12 months. Without significant help, borrowers that were on the brink before COVID-19 will not survive. Borrowers that require a banner summer season to make their books tint green for the year are also in serious trouble. (Gonzo Banker)
Social engineering scams, such as fraudulent instruction, continue to affect consumers and businesses alike. In a bank’s case, fraudulent instruction occurs when an employee is tricked into transferring money from a customer’s account to somewhere else because a fraudster has stolen the customer’s identity. By following best practices, you can help prevent fraudsters from making your bank a victim. (Traveler's Insurance)
If you’re finding that you’re more exhausted at the end of your workday than you used to be, you’re not alone. Over the past few weeks, mentions of "Zoom fatigue" have popped up more and more frequently. Why do we find video calls so draining? There are a few reasons. (Harvard Business Review)
Welcome New Associate Members

VBA Announces New Endorsed Provider: Genesys Technology Group
Genesys Technology Group was founded in 2007 to be an advocate for the community bank and take the guesswork out of core contract negotiations. Genesys offers fully managed renewal negotiations as well as core vendor due-diligence services and also specializes in the evaluation of mission-critical fintech and third-party systems. Furthermore, Genesys provides on-going support such as invoice audit services, conversion management, new product installation, and project management. To learn more, visit vabankers.org/endorsed-provider/genesys-technology-group-llc.

New Associate Members

Correspondent Bank/Financial Institutions

Atlantic Capital Bank
Atlantic Capital Bank is a full service corporate and commercial bank that is based in Atlanta, Ga. In their Virginia market, they are focused solely on SBA Lending. For more information, visit www.atlanticcapitalbank.com.

Mortgage & Real Estate Services/Employee Benefits
Southern Trust Mortgage
A regional mortgage lender headquartered in Virginia Beach, Southern Trust Mortgage has been offering residential mortgage loans for the past 22 years to their communities. Sonabank is their banking partner and they are members of several associations in their communities, but in particular, they are a member of the Virginia Mortgage Bankers Association. They are looking to continue to build a strong presence in the industry as they grow and expand. For more information, visit www.southerntrust.com.

IT Consulting & Services/Security Services
Inceptus
Inceptus focuses on helping businesses deal with the increasing risks and impact of cyber attacks. By combining a proprietary blend of cloud-based technologies, advanced data analytics, exclusive threat intelligence and highly skilled security analysts, Inceptus offers 24/7/365 managed cyber services that are reasonably priced and can keep out even the most determined adversaries. They make cyber simple! For more information, visit www.inceptussecure.com.

Credit & Lending Resources/Mortgage & Real Estate Services
A&D Mortgage LLC
A&D Mortgage is a full-service lender, offering the wide spectrum of conventional and non-QM mortgage products. Their knowledgeable team of experts will constantly impress you with the first-class service that you have never experienced. At A&D Mortgage, their core strengths are personal touch and unique products. Their employees are their most valuable resource and their knowledge and expertise play an important role in achieving their client's goals. For more information, visit www.admortgage.com.

New Financial Services Associate Members

Law Firms

Gentry Locke
With over 60 lawyers practicing from its offices in Roanoke, Lynchburg and Richmond, Gentry Locke attorneys help companies and individuals meet legal challenges. They offer transactional services to help clients realize their financial goals and have a team of experienced trial lawyers who are driven to protect clients' interests. For more information, visit www.gentrylocke.com.

Compliance Services
AML Sentinel Corp.
AML Sentinel Corp. is a full service AML outsource provider that performs AML services, which include CTR, 314a, transaction monitoring, alert tuning, investigations and no-file and SAR documentation. Each bank gets the benefits of deep industry expertise, cutting edge technology and analytical capabilities. For more information, visit www.amlsentinel.com.

Virginia Small Business Financing Authority
SalesSource International