Tennessee Bankers

This Week Newsletter

March 13, 2017 - Issue No. 1710

Majors, Amos Speak to American Banker Regarding PACE Loans

TBA-opposed legislation enacting a Property Assessed Clean Energy (PACE) program in Tennessee gained some national attention last week with a March 6 article in American Banker titled Tennessee is latest battleground for controversial energy loan program (subscription required). TBA's Chairman Gordon Majors and EVP/General Counsel Tim Amos were both quoted in the article reinforcing the association's opposition to the program, which at the most basic level interjects local governments into the lending process. Introduction of the PACE legislation has been a regular occurrence over the last several legislative sessions, but has failed to advance or receive a positive reception among Tennessee lawmakers.

Trump Meets with Leaders from Banks Under $1 Billion

Bank leaders of nine banks under $1 billion in assets and representatives of the ABA and ICBA last Thursday met with President Donald Trump and other senior officials at the White House to discuss targeted regulatory relief needed to unleash the full economic potential of community banks. In the meeting with President Trump, Treasury Secretary Steven Mnuchin, National Economic Council Chairman Gary Cohn and White House Chief of Staff Reince Priebus, the bankers shared specific examples of how excessive regulatory burdens affect their ability to serve their customers, make loans, and create jobs at the local level.

Tennessee's Longest Serving Senator Passes; Honored at Capitol

The last week at the General Assembly began and ended by honoring Senator Douglas Henry, who passed away March 5, at age 90. Sen. Douglas S. Henry III served longer in the state legislature than anyone in Tennessee history and in doing so gained a reputation as the epitome of a Southern gentleman, statesman, and a staunch fiscal conservative. The Monday evening House and Senate floor sessions served as an opportunity for members to share memories from Senator Henry's long and lasting legacy. In addition, the legislative week closed on Thursday as Senator Henry's body was laid in state at the Capitol building, an honor last granted in 1927 to Gov. Austin Peay who died in office.

General Assembly News from the Week

During the committee work week, the Administration's fuel tax legislation cleared its first Senate hurdle with the Transportation Assessment Subcommittee returning the bill to full committee with a positive recommendation and an amendment that establishes a priority list of projects for the tax revenue allocation. You can view the TDOT list of planned projects across the state by clicking here.


Another of the Governor's priority initiatives advanced last week when the House Business & Utilities Subcommittee recommended and amended the Broadband Accessibility Act by allowing Tennessee's rural electric cooperatives to offer video to customers as well as broadband services. Also in political news last week was the announcement by former ECD Commissioner Randy Boyd declaring for the Governor's race in 2018.

TBA Elder Protection Legislation in Committee This Week

The House Subcommittee on Consumer & Human Resources, meeting Wednesday, March 15, is scheduled to hear TBA's legislation aimed at providing bankers additional tools to protect Tennessee's elderly and vulnerable adult population against financial exploitation. Sponsored by Rep. Kevin Brooks, the subcommittee will serve as the first hurdle for the bill, which stems from over two years of research and roundtable discussions into the issue. TBA's legislation would primarily allow for: the option for a bank or other financial service provider to delay or refuse to conduct suspicious transactions; the ability for the bank to contact family members or friends to provide notification when the bank suspects exploitation of the elderly customer; and the option to refuse a suspicious power of attorney for vulnerable adults. All with explicit liability protections for banks and employees for exercising, or not exercising, one of these protection measures.

Governor's Rural Task Force Launches Website for Rural Community Leaders

The Governor's Rural Task Force has launched a new website, and resource database for Tennessee's rural communities, featuring comprehensive information about task force and a searchable database that catalogs available programs and resources. The website includes information from nine state departments and six task force community partners. It is designed to provide Tennessee's rural community leaders and citizens with a single source for information about grants, loans, technical assistance, and other community development programs.

Day on the Hill a Success for the TBA Young Bankers Division

Last Wednesday, more then 50 bankers joined TBA's government relations team for an annual advocacy event of the TBA Young Bankers Division, Day on the Hill. The bankers traveled in from across the state for a day-long event featuring presentations by the legislative leadership including Lt. Governor Randy McNally, Speaker of the House Beth Harwell, Senate Majority Leader Mark Norris and the chairmen of the relevant banking committees, Sen. Jack Johnson and Rep. Ron Travis. The day also featured a luncheon and legislative panel on hot topics such as healthcare, infrastructure, and broadband with House Minority Leader Craig Fitzhugh, Rep. Pat Marsh, Rep. Cameron Sexton and Amanda Martin of ECD hosted by Bone McAllester Norton PLLC.


View the day in photos. View tweets from the day by following @TNBankers or #TNYoungBankers. To learn more about TBA's Young Bankers Division or the latest news from the General Assembly, contact Stacey Langford.

Executive Development Academy Builds Leaders, Enhance the Effectiveness of Their Banking Institutions

A real challenge, for real growth, that really matters. What could be more critical to your institution's long-term health than the choice and cultivation of its future leaders? The TBA's Executive Development Academy is a comprehensive 9-month program that equips participants with the tools to grow as leaders and to enhance the effectiveness of their banking institutions. The program is intense, demanding, and focused on the real levers of change—and is only offered and agreed to by managers who are committed to becoming the leaders of tomorrow.


The Executive Development Academy registration deadline has been extended to March 24. Click here to learn more and enroll.

2017 IRAs: The Basics Held in Three Locations

If you have been looking for a seminar that will answer all your simple and complex questions, IRAs: The Basics fits the bill. This comprehensive seminar will provide the new IRA banker and supervisor with a complete understanding of all areas of the IRA account, as well as the newly enacted regulations. All aspects of IRAs will be discussed thoroughly with emphasis placed on the responsibility of the financial institution versus the responsibility shifting to the account holder. Each participant will receive a completely updated 275-page IRA Training and Reference Manual. This program will be held in March 28 (Knoxville), March 29 (Jackson), and March 30 (Nashville). Click here to register.

Strategic Technology & Operations Conference Hotel Deadline March 13

For the 18th year in a row, the Strategic Technology & Operations Conference Exhibit Show is sold out, with 29 vendors sharing their products and services with attendees this year. You won't want to miss visiting with these vendors in the Exhibit Hall on April 4. This conference is designed for CEOs, CIOs, CFOs, COOs, senior operations officers, senior department heads, IT directors, and anyone responsible for making technology decisions within your institution.

Join nationally renowned speakers Jack Vonder Heide, Steve Stasiukonis, Chad Knutson, and Tim Leonard as they bring you the latest information on director responsibility for IT risk and strategy; digital kidnapping; strategic planning for 2017, and beyond; hacker hi-jinks; cybersecurity controls that banks should be doing but aren't; and more on the Dark net.

Additionally on the program, join a panel of three Tennessee bankers who will address how to build a high-touch culture in a data-driven bank; discussion on the top three critical incident response components; a demonstration on penetration testing; and a representative from FDIC on IT from a regulatory perspective.

Make your hotel reservation now before the March 13 deadline, and register for the conference before the March 21 early registration deadline. Click here.

Ncontracts Webinar: Revelations from the FDIC's OIG Vendor Management Report

The FDIC Office of Inspector General's (OIG) deep dive into the state of vendor management has revealed widespread deficiencies including business continuity planning, incident response, contract management, internal controls, and cybersecurity. Thursday, March 23 at 2 pm CT, join TBA's endorsed partner Ncontracts for a free webinar to review the FDIC's OIG evaluation of vendor management covering each of those five key topics addressed in the report. RSVP here for the free webinar.

FinancialPSI This Week: Have you reviewed your 401(K) plan recently?

Sponsoring your company's retirement plan, you have important duties and responsibilities as the plan fiduciary. While being a
fiduciary is probably not your primary job, you must ensure that your plan is in compliance with government rules and regulations. To meet your fiduciary obligations, it is prudent to review and evaluate your plan regularly.

FinancialPSI will put together a comprehensive fee analysis and plan benchmarking report at no charge. FinancialPSI is dedicated to helping its Association members with all things financial. We hope you take advantage of this and many more of the services we provide. Contact FinancialPSI's Ted Frizen and Jon Goodson for a review of your current plan. 

Welcome New Associate Member

TBA welcomes new Associate Member Metrostudy, a provider of primary and secondary housing market information for banks. Please thank this company for their support of the Tennessee banking industry through membership and when evaluating vendor partners review the list of all TBA associate members in our online directory.

TBA On the Road

  • HR professionals congregate in Murfreesboro for the Human Resources Conference March 14 and 15.

See where TBA goes while "on the road" by following @TNBankers.

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