January 16, 2007
Vol. 2, No. 1
Upcoming NYBA Opportunities for Service Members
NYBA’s
2007 calendar: great opportunities for Service Members – Plan Now!
With the new year underway, it’s time for NYBA’s Service Members to
plan their participation in the many sponsorship, exhibiting and
programming opportunities available through the Association. 2007
offers a broad and busy menu of meetings, conferences and special
events that can help our Service Members take full advantage of
important networking and business development opportunities with New
York banks. Remember to mark
your calendars, and plan your budgets accordingly, so you don’t miss
out:
4th
Annual Technology & Risk Management Forum
May 14-15, 2007
The Saratoga Hotel & Conference Center
Saratoga Springs, New York
Exhibitors: Sign up now –
www.nyba.com/education/meetings.html
Senior
Management Conference
June 20-22, 2007
The Otesaga
Cooperstown, New York
61st
Annual Trust & Investment Conference
October 2-4, 2007
The Saratoga Hotel & Conference Center
Saratoga Springs, New York
2007
NYBA Annual Convention
October 24-27, 2007
The Breakers
Palm Beach, Florida
Annual
Retail & Small Business Banking Conference
November 28-30, 2007
The Saratoga Hotel & Conference Center
Saratoga Springs, New York
Service Members: To
learn more about sponsorship and/or exhibitor opportunities for all
NYBA programs, contact Mary Robb (212-297-1662,
mrobb@nyba.com) or Bill Foley (212-297-1675,
bfoley@nyba.com). Visit NYBA.com for a complete listing.
Professional Development
The NYBA
January – June
Professional Development Catalog
is now available, and provides a comprehensive
look at all the schools, seminars, conferences, webinars, telephone
seminars, online programming and continuing education opportunities
through NYBA. Call 212-297-1666 or email
rmurjani@nyba.com
for a copy. Extra copies are available to distribute to branches or
other departments. Remember to bookmark NYBA’s
Online Calendar of Events.
Consider providing a link directly from your bank’s intranet. Visit
www.nyba.com for details.
Telephone Seminars and Webinars Bring Updates to Your Desktop or
Conference Room
NYBA is pleased to offer “one-stop shopping” for a comprehensive
catalog of
telephone and webinar programs, as well as programs on CD,
through BankersEd and ABA. Check back frequently as programs are
added regularly.
NYBA
is Your Resource for the AIB Curriculum
AIB Online courses
are the fastest growing way to access the AIB curriculum, and offer
the same high quality curriculum, textbooks and instructor guidance
that you find in the classroom, with the added convenience of
frequent start dates and flexible scheduling. The January-August
schedule is available at NYBA.com..
Online
Training Helps Your Employees Understand Banking
Training via the Internet, online training, or e-learning, is
gaining rapid acceptance by all types of organizations. It increases
your firm’s productivity. With distance learning, your employees can
avail themselves of broad-based training and education, delivered
anytime and anywhere. NYBA has partnered with some of the leading
developers of online training to bring you banking-specific
self-paced and instructor-led courses. One such program is
“Principles of Banking,” which teaches the impact of banking on the
economy, as well as the trends, business and environment of
commercial banking today. The course provides a “big picture”
perspective of the financial services industry and banking. After
completing this course, your employees will better understand how
banks operate. To explore options in online training, please visit
www.nyba.com, or contact Elisa Legg (elegg@nyba.com)
or Fred Corden (fcorden@nyba.com).
For further
information, contact Elisa R. Legg, Senior Vice President,
Professional Development, at (212) 297-1679 or
elegg@nyba.com. Don’t forget to sign up to
receive updates on all of NYBA’s educational programs by e-mail at
www.nyba.com/education.
What’s New From NYBA Profit Solutions
NYBA’s Workers Comp Group Invites Service Members
Arthur J.
Gallagher & Co., administrators of the NYBA Workers Compensation
Safety Group, offers NYBA Service Members non-binding quotes to
compare your current coverage. In addition to attractive cost
benefits, the Safety Group makes it much easier for the HR
professionals at participating clients to keep track of claims and
the status of injured employees. Underwritten by the PMA Group, the
NYBA plan provides all participants with state-of-the-art on-line
claims tracking and monthly reports. PMA also provides – free of
charge – an integrated disability management program that delivers
quality managed care for injured employees.
PMA medical professionals monitor the
treatment of injured employees to help minimize medical and lost
time expenses by returning employees to work as soon as possible.
The NYBA Workers Compensation Safety Group offers significant
up-front discounts off state mandated rates. For more information on
this valuable program, please call Lynn Cagnetta of Arthur J.
Gallagher & Co, at (914) 697-6023 [e-mail lynn-cagnetta @ajg.com].
Be sure to identify yourself as a NYBA Service Member.
Xerox
Office Equipment Program
NYBA’s office equipment program provides NYBA members and Service
Members with additional discounts on purchased Xerox equipment. If
you buy Xerox equipment, tell the merchant you are a NYBA member and
you will receive a discount above and beyond what the dealer
provides. Call 1-800-275-9376, ext. “BANK” (2265). Important: You
must reference the contract number
0706438 when purchasing
or leasing Xerox machines to receive the discounted rate. The
discount applies to equipment, supplies training and systems
management. For further information on these NYBSCO products, please
contact NYBA’s Field Marketing Director Gus Kananis at (518)
434-3558: e-mail
gkananis@nyba.com.
NYBA
Offers Job Bank
NYBA Service Members are invited to utilize the Job Bank on our web
site at
www.nyba.com. Offered through CareerBank.com, the online job
bank offers assistance to job seekers and employers in the financial
services and accounting professions.
Government Relations Update
In
Albany: In his first
State of the State message to a joint session of the State
Legislature, Governor Spitzer outlined his broad goals for his first
term. Under the rubric “One New York,” he called for
Government Reform and Economic
Revitalization, emphasizing the need for ethics reform,
government restructuring, education reform and incentives for
revitalizing distressed communities. Regarding the economy, he
stated that New York could not remain competitive if it failed to
rein in its out-of-control spending and excessive cost structure.
Among specific recommendations were reducing workers’ compensation
premiums, improving access to affordable housing and cutting health
care costs. Governor Spitzer also committed that “the budget I will
submit on January 31st will not raise taxes.”
NYBA kicked off its year in Albany
with a highly successful and well-attended
Annual Meeting and Legislative
Conference this week.
Tom O’Brien, President of State Bank of Long Island, was
elected Chairman for 2007, succeeding
John Zawadzki, President
and CEO of Partners Trust Bank, who had served for two years, first
as Chairman of CBANYS and then as Chairman of the newly combined New
York Bankers Association. John M.
Scarchilli, President & CEO, Pioneer Savings Bank, was
elected Vice Chairman, and John
F. Stewart, Managing Director, National Distribution,
Citibank, N.A., was chosen as Treasurer and Chairman, New Century
Investment Fund. After an update on NYBA’s government relations
goals for 2007 by NYBA President Mike Smith, the group was joined by
Assemblyman Ron Canestrari
(D-Albany), who had just been selected as Assembly Majority Leader.
In a candid assessment of New York’s political, ethical and economic
challenges, the Majority Leader stressed the need for upstate
economic development and emphasized his belief that Governor
Spitzer’s commitment to no new
taxes is hard and fast and that the State budget can be
enacted without breaking the pledge.
Senate Majority
Leader Joseph L. Bruno
(R-Saratoga) emphasized his support for Governor Spitzer’s entire
agenda, stating that the Senate would go further than the Governor
has proposed by reducing property taxes by $6 billion in two years,
rather than 3 years, by leading the way on government reform, and by
proposing a package of $1.3 billion in small business incentives.
State Banking Superintendent
Diana Taylor concluded the luncheon program by describing
the Department’s continued commitment to the State banking charter
and to reforming outmoded budget and personnel policies that have
made staffing and modernization difficult.
The afternoon session was highlighted
by a panel on economic
development. M&T Executive Vice President
Brian Hickey, a founder
of Unshackle Upstate New York, a group dedicated to improving the
upstate economy, described the goals of the organization which
supports a relaxation of some of the current impediments to growth.
Among these are tax reductions, workers’ compensation reform, a
reduction in artificially high energy costs and unraveling of
regulatory restrictions such as the Wicks Law, Triboro Amendment,
scaffolding law, brownfields reform and tort law liability relief.
Assemblyman Robin Schimminger
(D-Erie), Chairman of the Economic Development, Job Creation,
Commerce and Industry Committee, stated his support for the goals of
Unshackle Upstate, and highlighted ways in which overall reform
plans could be tailored to the needs of the upstate economy. The
afternoon session concluded with presentations by the Senate and
Assembly Banks Committee Chairs.
Sen. Hugh Farley (R-Schenectady) expressed concern that
Governor Spitzer’s opposition to any new taxes might not extend to
elimination of the REIT deduction
and described the proposal by the credit unions to gain access to
municipal deposits as a
very difficult issue. Assemblyman
Darryl Towns (D-Brooklyn) stated his continued support
for the State’s role as the financial capital and urged continued
attention to financial literacy.
Later, bankers went to the Hill to meet with their legislators on
the industry’s agenda for 2007.
The next morning,
New York Post Albany
Bureau Chief Fred Dicker
presented an overview of the State political situation, emphasizing
the critical importance of many of the themes woven by Governor
Spitzer in his State of the State message. The program concluded
with a presentation by newly selected Deputy Secretary of State for
Public Protection Michael Balboni
talking about the need for a public-private partnership to address
security issues such as terrorism, avian flu and disaster
preparedness.
In
Washington: Four new
members of the New York Congressional Delegation who were elected
last November were sworn in. Democrats Michael Arcuri (24th
C.D., Utica), Kirsten Gillibrand (20th C.D., Capital
region), John Hall (19th C.D., Hudson Valley) and Yvette
Clarke (11th C.D., Brooklyn) joined the state’s
delegation. Meanwhile, with Democrats now controlling Congress, New
Yorkers move into important chairmanships of several key committees.
In the House: Charles Rangel (D-15th C.D., Harlem), the
dean of the Delegation, chairs the powerful Ways & Means Committee;
Louise Slaughter (D-28th C.D., Rochester) chairs Rules ;
Nydia Velazquez (D- 12th C.D., Brooklyn) chairs Small
Business. Several other New Yorkers are in critical subcommittee
positions. New Yorkers serving on House Financial Services Committee
are: Democrats Carolyn Maloney (14th C.D., Manhattan),
Nydia Velazquez (11th C.D., Brooklyn), Gary Ackerman (5th
C.D., Queens), Greg Meeks (6th C.D., Queens), Joe Crowley
(7th C.D., Queens) and Carolyn McCarthy (4th
C.D., L.I.), and Republican Peter King (R-3rd C.D., L.I.)
Also, Representative Carolyn Maloney
(D-Manhattan) has been elected Chairman of the House Financial
Services Committee’s Subcommittee on Financial Institutions and
Consumer Credit. She stated that some of her priorities include data
security legislation, regulatory relief and creating a level playing
field for banks and credit unions. She also expressed her support
for legislation to restrict the commercial ownership of industrial
loan companies and extend the Terrorism Risk Insurance Act.
Representative Jose Serrano (D-Bronx) has been elected Chairman of
the newly created House Appropriations Subcommittee on Financial
Services and General Government. The new Subcommittee will have
jurisdiction over funding the Treasury Department, the federal
banking regulators, Postal Service, Small Business Administration,
the Judiciary, the District of Columbia, Federal Communications
Commission, Securities and Exchange Commission, and Federal Trade
Commission.
Rep. Nydia Velázquez (D-Brooklyn)
introduced a bill (H.R. 41) that would permit
24-transaction sweep accounts
immediately upon enactment and repeal the prohibition on the payment
of interest on demand deposits two years after enactment. The
legislation is similar to a House-passed bill in the last Congress
(H.R. 1224), but does not contain language that would have prevented
industrial loan companies
owned by non-financial firms from offering business checking
accounts.
Also reintroduced was a bill, H.R.
111, prohibiting the Federal Reserve Board and Treasury Department
from authorizing financial holding companies and national banks to
engage in real estate brokerage.
Of the 80 co-sponsors, 5 are from New York.
House Financial Services Chairman
Barney Frank (D-MA) and ranking member Spencer Bachus (R-AL)
introduced a bill that would
eliminate Currency Transaction Reports for “seasoned customers.”
Under this legislation, which NYBA supports, banks would not be
required to file CTRs on transactions of more than $10,000 with
those customers or sole proprietorships that have been doing
business with the bank for 12 months or more. The House approved
similar bills last year both on a stand-alone basis and as part of
regulatory relief legislation. However, the Senate refused to agree
because of opposition from law enforcement.
New Members of the House of
Representatives from New York have been assigned offices and their
second committees. The contact information may be found on
www.nyba.com. Rep. Michael Arcuri
(D-Utica) will serve on the Science Committee.
Rep. Yvette Clark was
added to the Education and Labor Committee. Rep.
Kirsten Gillibrand joins
the Agriculture Committee. Rep.
John Hall becomes a member of the Veterans’ Affairs
Committee.
Meanwhile, in the U.S. Senate:
New York’s senior senator, Chuck Schumer, was elected Vice Chair of
the Conference, the third ranking member of the Democratic
leadership, and will oversee strategy and policy to keep and build
support for Democratic values. He also will also again serve as
Chairman of the Democratic Senatorial Campaign Committee (DSCC), and
serves on the Senate Banking, Finance, Judiciary and Rules
Committees. Sen. Hilary Rodham Clinton will serve as Vice Chair of
Committee Outreach, helping to coordinate the committee work of the
Democratic Caucus. She serves on Armed Services, Environment &
Public Works, Health, Education, Labor & Pensions and Aging
Committees.
Sara Kelsey, currently Deputy
Superintendent and General Counsel of the New York State Banking
Department, was named General Counsel of the Federal Deposit
Insurance Corporation.
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“First
Look” is published every other Monday by the New York Bankers
Association. Please send questions, comments or submissions to
Stephen W. Rice,
srice@nyba.com, Fax 518-434-1576, or call 518-434-3557.
