ABA Banking Journal - May 2009 - (Page 12)

briefing ABA Chairman’s Position ABA Resources Continued from page 11 ARTHUR CONNELLY Chairman, South Shore Bancorp aconnelly@aba.com ABA’s amazing state partnerships WHEN A CRISIS UNFOLDS, IT DOESN’T take long to find out where your strength lies. That happened for me last September when I began getting calls on Sunday afternoons and at midnight to discuss damage control on the issues impacting our industry as the financial crisis intensified. The callers were ABA officials and state banking association executives from all over the country. I heard the passion and commitment and relied on the expertise of our state executives as we developed our response. ABA’s partnership with our amazing state associations is critical. They are the perfect complement to ABA. State associations provide the local connections our industry needs. They energize their members to write and call their representatives. Together, we cover the home front and the national scene. Both of us are essential to making a difference in supporting candidates who understand the role of banking in the economy and in encouraging Congress to support banking policies that promote and protect economic growth and job creation. State association executives play a vital role both statewide and nationally. I see that as ABA’s chairman, and I know that from my involvement in the Massachusetts Bankers Association and my work with our president, Daniel J. Forte. There’s an old saying: “It’s not who you know; it’s who knows you.” Dan knows every member of our state delegation in the House and Senate as well as anyone. And they know him. And that’s the point. Other state executives are the same way. That’s the key to making a difference in Washington. That’s why their calls are returned. And that’s why bankers coming to Washington can get an appointment to see their elected representatives and key staff operatives. Our state association executives are so important to ABA that a state association division representative sits on the ABA Board. I’m fortunate to have John K. Sorensen, president and CEO of the Iowa Bankers Association, fulfilling that responsibility this year. We saw the breadth and depth of John’s expertise several times during the Government Relations Summit in Washington in late March. State associations play many roles for us as individuals as well. For me, it was in education. The MBA’s Massachusetts School for Financial Studies combined with the National Graduate School, were co-equal in my banking education and industry maturation, as well as in developing my network. They were the greatest learning experiences of my career. Recently, while talking with a banker, a non-ABA member, and someone for whom ABA has delivered big time during this crisis, the conversation went like this: “So when are you going to join the ABA?” I asked. And he answered: “You know, my state trade association doesn’t do much for me. I need to re-allocate those dues to the ABA.” I reminded him that his state association delivers for him constantly. I cited several examples. Then I told him, “ABA is an investment in your bank’s future and the industry’s future. You can’t afford to be without ABA membership. As you know,” I reminded him, “the ABA dividend is enormous. ABA delivers!” In the coming months I will have the opportunity to visit a number of state banking association conventions across the country, and I’m looking forward to it. I want bankers from coast to coast to know that they should continue their affiliation with state banking associations, and invest in ABA because the returns from both are enormous. BJ Proceed Business Loan enables banks to offer access to risk-adjusted, fixed-rate, fixed-term loans of up to $100,000 to small business customers who do not qualify for traditional loans. Banks do not incur any credit risk or underwriting costs. Proceed Business Loan is underwritten by On Deck Capital, Inc. and endorsed by the ABA through its affiliate, Corporation for American Banking. For more information go to www.aba.com/CAB or call 1-800-BANKERS. New ABAWorks on Reg Z ABA’s newest ABAWorks, focusing on new Federal Reserve Regulation Z requirements, is available for bankers to download at www.aba.com. The effective date for compliance with the new Reg Z is October 2009, except for the early disclosure provisions, which must be implemented by July. In addition to new regulations that apply to all mortgage loans in areas such as appraisals, servicing, disclosure, and advertising, the new regulation also creates a subset of loans considered to be “higher-priced mortgage loans.” For many banks, this definition will include subprime loans as well as some loans previously considered to be prime loans. ABAWorks on Regulation Z is designed to help bankers decide whether and how to offer “higher-priced mortgage loans,” and to help them reorganize their compliance framework to take into account the new requirements that apply to all mortgages. To download a copy, go to www.aba.com/About+ABA/abatoolboxes.htm. Questions? Call 1-800-BANKERS. Subscribe at www.ababj.com 12 MAY 2009/ABA BANKING JOURNAL http://www.aba.com/CAB http://www.aba.com http://www.aba.com/About ABA/abatoolboxes.htm http://www.aba.com/About ABA/abatoolboxes.htm http://www.ababj.com

Table of Contents for the Digital Edition of ABA Banking Journal - May 2009

ABA Banking Journal - May 2009
Contents
Editor's Column
Special Briefing on the Mortgage Cleanup
Tackling the "End of the Beginning" of Mortgage Crisis
ABA Resources
ABA Chairman's Position
Banks Wade into Social Media
Pass the Aspirin
Part 1: Banks and Thrifts Over $3 Billion in Assets
Top 25 Ranked, With Key Performance Data
Summary Data for Top 25 and All Institutions Over $3 Billion
Mobile Banking: You're Either In, or You're Out
10 Steps to Defusing Loan-Mod Bombs
Mailbox
Banker's Mart
To Advertise/Index of Advertisers
The Economy

ABA Banking Journal - May 2009

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