ABA Banking Journal - May 2014 - (Page 40)
AMERICAN BANKERS ASSOCIATION
At Your Service
Banker Advisory Council Formed
The Corporation for American Banking, a subsidiary of the American Bankers Association, recently formed a Banker Advisory Council. Its mission is to provide strategic
guidance regarding ABA-endorsed solutions and to assist with identifying product solutions that address key industry issues.
"This advisory council will use our first-hand experience of what is happening in our
banks when speaking with third-party providers," says Ken Burgess, Banker Advisory
Council chairman and FirstCapital Bank of Texas chairman. "It is an exciting time to
advise on solutions that can help both our banks and our customers."
Learn more about ABA-endorsed solutions at aba.com/Endorsed. n
ABABJ: How are BankPac and FEAI
Elizabeth Coit: BankPac and the Financial Education and Advocacy Initiative,
Inc., are separate entities that play a
mutually supportive role in advancing
banking's policy priorities. BankPac,
which works closely with state associations, allows bankers to support candidates with personal contributions. It's
consistently one of the top 10 PACs.
FEAI can be funded with corporate contributions, and as a 501(c)(4), it spends
its money two ways. It supports public
education and advocacy through, for
instance, informational brochures for
Congress and industry image ads. FEAI
also makes "independent expenditures," which provide indirect support
for campaigns through Get Out the Vote
and similar efforts.
Compliance Information Exchange Saves Banks Time
Banks using VendSure Compliance Information Exchange by Fortrex Technologies are
reporting that the ABA-endorsed solution is saving them time and improving the efficiency of their due-diligence documentation exchange with vendors.
The secure, online central repository provides one place to view third-party due-diligence information. It also includes automatic document tracking, mapping, and notifications capabilities that facilitate immediate access to up-to-date compliance information and expert analysis reports 24/7.
"We are minimizing the amount of time spent requesting information from vendors
by using Vendsure. IT [risk management] is now more digestible to people in our organization from the service delivery side," explains Donald Rome, vice-president and senior risk officer of First Interstate Bank. "Plus, I am able to use their reports to red flag
Learn more about Vendsure at aba.com/Endorsed. n
ABA Public Relations' Top Interview Topics
ABABJ: Why do banks need both?
EC: Bankers need as many ways to be
active in public policy debates, politics,
and the legislative process as possible.
BankPac and FEAI, together, cover the
bases. It's like having a smartphone and
a computer-they may use similar technology, but have different functions.
Questions? Send an email to Elizabeth
ABA BANKING JOURNAL
Source: ABA Public Relations Quarterly Report
(Volcker TruPS proposal, flood performance,
insurance bill) FCA meeting)
Table of Contents for the Digital Edition of ABA Banking Journal - May 2014
Who will fill the chair?
Pass the Aspirin
Doing well by doing good
ABA At Your Service
ABA Banking Journal - May 2014