Tennessee Bankers

This Week Newsletter

July 11, 2016 - Issue No. 1628

TNBankers.org New Mobile Site Released

Connecting with TBA online from anywhere and everywhere just got easier with the launch of TBA's new mobile website. The new site is responsive to tablets, smartphones, and other mobile devices, making it easier to stay up to date with TBA's education calendar, register for programs, and follow This Week links from your mobile devices. Save TNBankers.org to your home screen and explore the new site!  We welcome your feedback and suggestions for improvement.

CFPB Proposes to Reduce Privacy Notice Requirements

The CFPB on July 1 issued a proposed amendment Regulation P, which requires, among other things, that banks provide annual privacy notices to their customers. The rule would implement a December 2015 statutory amendment to the Gramm-Leach-Bliley Act providing an exception to this annual notice requirement for banks that meet certain conditions, including that they have not changed their policies and practices on the disclosure of nonpublic information since the previous notice was sent and they do not share nonpublic personal information with third parties.
The CFPB's proposed rule also established a deadline for institutions resuming annual privacy notices if they cease to qualify for the exemption. Click here to read the proposed amendment.

Lawmakers Request Review of OCC's Role in 'De-risking'

Several Republican House members last week raised concerns about the OCC's role in encouraging de-risking—a practice that involves a bank terminating business to avoid regulatory scrutiny. The lawmakers called on the Treasury Department's inspector general to examine OCC's Bank Secrecy Act and anti-money laundering supervisory practices to determine the extent to which OCC staff have caused banks to de-risk their customers.

Lawmakers also expressed concerns that increasing supervisory expectations surrounding risk evaluation could lead to a greater compliance burden and that the increased regulatory pressure has increased the cost of account opening. Click here to read the letter.

TSSB Alumni Reception is July 18

Make plans to join TBA for The Southeastern School of Banking Alumni Night Reception, Monday, July 18, 6:15 – 7:15 p.m. at the Homewood Suites on West End Avenue. The annual Alumni Night reception is held in conjunction with the TSSB Students' Reception for 2016 first- and second-year students and faculty. This event celebrates past graduates of TSSB and brings former classmates together. It is a great opportunity to meet and interact with the alumni of the future, or to use it as an opportunity to support and visit a colleague who is a student in the school. Please RSVP so that we can plan for your participation, the deadline to RSVP is July 13. There is no cost to attend; Alumni Night is sponsored by HORNE LLP. RSVP today for TSSB Alumni Night.

SBS Institute: Certified Banking Security Manager

The SBS Institute: Certified Banking Security Manager seminar equips attendees with the tools and information to be successful in reporting, documenting, and creating proper assessments. Attendees will:

  • Develop an entire information security program framework to take back to their institution
  • Understand how to successfully implement and manage each component of the information security program
  • Boost their knowledge of layered security programs
  • Gain confidence in decision making with comprehensive cybersecurity knowledge
  • Dive into FFIEC cybersecurity guidelines

This seminar, which takes place July 27 and 28 in Nashville, offers an opportunity to work closely with a security expert and network with peers. The deadline to register is July 20. Click here to enroll. 

Deadline Approaching to Order Bankers Directory

The 2016/2017 Bankers Directory is a compact, handy reference that puts information about all of Tennessee's commercial banks and trust companies at your fingertips. The directory contains complete financial data for Tennessee institutions taken from the 2015 year-end FDIC Call Reports.

CEOs, out-of-county main office branches, and associate members each receive one complimentary copy of the directory. Additional copies are available for purchase.
The deadline to order this valuable resource is July 15. Click here to order your copy of the 2016/2017 Bankers Directory online, or download the order form and send the completed form to T'Lanie Luu.

Submit Your Bank's Community Involvement, News, and Promotions to TBA

We want to know the latest news about your bank for possible inclusion in The Tennessee Banker magazine. Please submit text and photos to Tyler Nelson about the following items: 

  • Job promotion announcements
  • Bank celebrates milestone or receives an award
  • Opening a new branch
  • Community involvement

TBA On the Road

  • TBA's government relations team travels to visit with bankers and local legislators, and deliver BankPac checks.