General

EGRPRA Meeting - Dallas

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On February 4, 2015 in Dallas, the Office of the Comptroller of the Currency (OCC), the Federal Reserve Bank (FRB) and the Federal Deposit Insurance Corporation (FDIC) - collectively, the agencies - will hold the second in a series of outreach meetings on the agencies’ interagency effort to reduce regulatory burden as required by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA). These federal banking agencies will hold the following additional outreach meetings throughout 2015: Boston on May 4, Chicago on October 19 and Washington, D.C., on December 2.

TechMecca 2015

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TechMecca 2015, IBAT's annual technology conference and expo kicksoff in just over a week. 

The current rate of change in technology influencing the operations and customer service of community banks is nothing short of dizzying. While everyone has an eye towards the future and “what’s next,” TechMecca 2015 will call attention back to the C-O-R-E areas of concern:

Basel III Capital Rules

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The new Basel III capital rules that went into effect for all banks on January 1, 2015 can be confusing. All Non-Advanced Approaches Banks (< $250 billion assets) are required to make a one-time, irrevocable election to opt-in or opt-out of the new accumulated other comprehensive income (AOCI) treatment for regulatory capital computations on their March 31, 2015 call report.

.bank Domain

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As has been reported over the past few months, the .bank domain will soon be available. While banks are not required to use the .bank domain, it is highly encouraged that you register and secure your bank’s name at the .bank domain. To assist with this process, the Independent Community Bankers of America has created a “How to Register for .Bank” webpage that includes links and deadlines for registering domain addresses, pre-approvals for .bank designations and additional information.

Debit Interchange Rules Untouched

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Yesterday, the United States Supreme Court declined to hear a case from retail groups seeking to overturn the Federal Reserve’s rule that established debit card interchange fees.

The decision of the Supreme Court to decline hearing the case effectively solidifies the March 2014 decision by the U.S. Court of Appeals that affirmed the methodology used by the Fed to establish interchange fees. Retailers have maintained that the Fed interpreted the statute too broadly when establishing the fee and ultimately settled on a maximum fee that was too high.

TILA Right of Rescission

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Last week, the United States Supreme Court held in the case of Jesinoski v. Countrywide Home Loans, Inc., that a borrower seeking to rescind a loan pursuant to the Truth In Lending Act’s (TILA) extended right of rescission need only submit notice to the creditor within three years to comply with the three-year limitation on the rescission right. TILA gives select borrowers a right to rescind their mortgage loans.

January Dell Sale

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Ready to start spending your 2015 technology budget? Dell's sale is still going on! 

Dell’s starting the year with a bang! Current discounts include:

  • 40% off Latitude Laptops;
  • 40% off Optiplex Desktops;
  • 40% off Precision Workstations; and
  • 35% off PowerEdge Servers.

Each of these special discounts are available until January 31, but IBAT member savings are available from Dell all year long. On average, IBAT members enjoy savings of approximately 30% on each order.

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