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Your Weekly MBA Bank Beat!

Michigan Business Network
July 31, 2020 11:00 AM

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MBA Highlights

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Friends of Banking Guide

Don't forget to get out and vote August 4th! Friends of Banking Voters Guide now available!

Your MiBankPAC has released a list of candidates who are truly Friends of Michigan Banking. We evaluated the answers submitted from the MiBankPAC Candidate Survey and interviewed a number of candidates. Based on those interactions, and discussions with Michigan bankers from across the state, determinations were made on which candidates are or will be friends of the banking industry. The candidates included in this document demonstrated through their answers and past votes that they possess a comprehensive understanding of the industry and grasp the complex regulatory and legislative environment that banks operate under.

MiBankPAC will also provide a similar listing after the August primary prior to the November general election. Bank leadership is encouraged to share this listing with other stakeholders, bank employees and board members so they may better understand where candidates stand on banking issues.

We urge members to review the list and take it into consideration when going to vote or mailing in ballots for the Michigan Primary on August 4.

Download the Friends of Banking Voters Guide
mbaBanking July/August Issue

Read the new mbaBanking July/August issue - Leading the Way

The July/August issue is one of the MBA's largest issues of the year. Learn about the new MBA board leadership, how to volunteer with the association, and review advertisements from MBA Associate Members and Endorsed Partners.

Articles include:

* 10 Best Practices to Ensure the Integrity of Remote Ink-Signed Notarizations by Bill Anderson, Vice President of Government Affairs, National Notary Association

* Connecting with the MBA by Stephanie Fisher, SVP – Education

* Get to Know Grant Smith by Alyssa Harasim, Director of Communications and Public Relations

* Your 2020-21 MBA Board of Directors

* Why Conscience Capitalism by Gene Pickelman, Co-Founder, President & CEO of Tri-Star Trust, Conscious Capitalism Great Lakes Bay Region Chapter, Board Chair

* And more!

Read the mbaBanking July/August Issue

ABA Unveils Revamped America’s Banks Campaign - MBA Members Dart Bank and Grand River Bank Highlighted

ABA has launched a newly revamped website for its America’s Banks campaign. The site—aba.com/AmericasBanks—features real stories and fresh data about banks’ efforts to support the people and places they serve. The website highlights the industry’s role in building careers, providing loans to individuals and small businesses and making a difference in their communities through philanthropy, investment, innovation and personal service. Visit the site.

MBA Website

mibankers.com Has A New Look

MBA website, mibankers.com has a new home page to make it easier for members to navigate through hot topics relevant to the association. The home page consists of COVID-19 news, featured/upcoming educational events, MBA Advocacy efforts, and MBA Service Corporation products and services.


Click here to view the new page.


LJ Ross Ad

Under the Dome

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Encourage Your Representative To Vote Yes On Legislation That Simplifies PPP Loan Forgiveness

Since April 3, bankers across Michigan have assisted small businesses in their communities by providing loans through the Paycheck Protection Program. Small businesses have received over 4.8 million loans through the program. This bill will simplify the forgiveness for PPP loans of a de minimis amount if the borrower submits a simple, one-page attestation form to the lender and is similar to S. 4117 with the intent of achieving the same purpose. As the Paycheck Protection Program enters the forgiveness phase, the process should be easy, simple and less technical for less sophisticated borrowers who received small amounts of proceeds through PPP.

You have asked your Senator to support this legislation a few weeks ago. Now, ask your Representative to support legislation that expedites the forgiveness process for borrowers and their banks!

Take Action

MBA Virtual Banker Roundtable Congressional Grassroots Series

Join the MBA for the Virtual Banker Roundtable Congressional Grassroots Series. The meetings include brief discussions regarding cannabis banking, CECL stop and study legislation, tax and conduct equity in the financial services marketplace, and cybersecurity issues. If you are interested in participating, please register here.

Next Week's Agenda:

  • Tuesday, August 4 - Go Out and Vote
  • Thursday, August 6, 7:30 A.M. – Congresswoman Debbie Dingell

Watch this week's roundtable meetings with Congressman John Moolenaar and Congressman Fred Upton.

Register Here

MBA Supported Bills Introduced to Protect Businesses and Banks from Liability During and After COVID-19

This past week in the Michigan House, a package of three bills dealing with employer liability was introduced by Representative Thomas Albert, Graham Filler, and Tommy Brann, HB-6030, 6031, and 6032. The Senate - introduced version of this package led by Chair of the Senate Insurance and Banking Committee includes Senator Lana Theis, Ken Horn, and Wayne Schmidt. Bill numbers are SB-1022, 1023, & 1024.

The package lays out specifics regarding what must be present or absent for an employee to have standing for a cause of action should they contract COVID-19 at work. The MBA has engaged for a number of weeks on a coalition of wide ranging business interested trade association partners to push this package. Last week a letter was sent to the Governor and all members of both legislative chambers to urge their support and communicate the importance of this package to the Michigan Economy.

Michigan Legislature Passes Budget and Gov. Signs EO With Cuts, Shifts, Federal Dollars

Last week, legislative chambers and the Governor took a significant step to fill a $2.2 billion hole in the state's current year budget with mostly federal money, $350 million from the Rainy-Day Fund, fund shifts and $483 million in hard cuts. HB-5265 & SB-0373 were passed by the legislature, and the Governor has agreed to sign both appropriations bills.

The House and Senate Appropriations committees signed off on a budget-cutting executive order and the legislature made some cuts with a scalpel, instead of an axe, to a number of state departments.

Some creativity was used with the federal coronavirus relief money since the state is not able to use it to plug holes in the budget. Michigan officials cut funding for schools, universities, State Police, colleges, local governments and the Department of Corrections and then used the federal money for, technically, new programming. Read more.

Governor Whitmer Amends MI Safe Start Order to Limit Indoor Gatherings, Save Lives 

Governor Gretchen Whitmer signed Executive Order 2020-160 and Executive Order 2020-161, amending Michigan’s Safe Start Order and issuing revised workplace safeguards. Under the Safe Start Order, starting July 31, 2020, statewide indoor gatherings will be limited to 10 people and bars will be closed for indoor service across the state, including in Regions 6 and 8. Read more.

SBA Paycheck Protection Program

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  • Today, the Committee on Financial Services will convene for a hearing entitled, “Protecting Consumers During the Pandemic? An Examination of the Consumer Financial Protection Bureau.” The hearing will convene in a “hybrid” format, which provides for remote Member participation or Member participation from the Committee hearing room. Watch the hearing.


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  • The FDIC last week formally rescinded its 2013 guidance on deposit advance products after announcing the move last May. The action, which ABA had long urged, removes a key barrier that had discouraged banks from entering or establishing small-dollar credit products that are economically sustainable while meeting the needs of bank customers. Read more.
  • The OCC will take a “serious look” at certain bank decisions not to lend to oil and gas projects in the Arctic, Acting Comptroller of the Currency Brian Brooks said in a letter to Sen. Dan Sullivan (R-Alaska) last week. The letter, which was reported by Politico yesterday, came in response to concerns by Sullivan about financing for Alaska petroleum projects. Read the letter.
  • Upcoming FDIC Webinar:
    • August 5: FDIC promotes improved availability and access to affordable mortgage credit for low- and moderate-income households in Southeast Michigan. Learn more.
  • Federal Reserve issues FOMC statement. Read more.
  • Fed Extends Temporary U.S. Dollar Liquidity Swap Lines. Read more.

Economy/Housing Finance

  • Comerica Bank's Michigan Economic Activity Index declined in May to a level of 90.3. May's reading marks a new historical low for the index. The index averaged 117.7 points for all of 2019, 0.9 points below the index average for 2018. April's index reading was revised to 102.4. Read more.

Professional Development/Online Learning

View Webinar Calendar. Search by topic.


Thumb and Central Region Golf Outing - August 10, Bad Axe

Marketing Conference - August 17-18, Virtual

Ag Lending Conference - August 20-21, Virtual

View Fall Seminar Brochure


Risk, Reputation and Response Workshop - September 1, Bath, MI

Virtual Offerings:

Advanced Financial Statement & Cash Flow Analysis - September 9

Advanced Tax Return Analysis for the Banker - September 10

Emerging Leaders Conference – September 10

Advanced Commercial and Industrial (C&I) and Commercial Real Estate (CRE) Lending - September 11

Security Management: Trends that Impact - September 17


Supervisor Training - October 1-2, Marquette

Virtual Offerings:

Midwest Trust and Wealth Management Conference - September 30 - October 2

Opening New Accounts Documentation and Compliance - October 5

Breaking into Banking - An Introduction to Commercial Lending - October 8

Mortgage Lending Workshop - October 15-16

People, Performance and Profits - October 21

Power Prospecting with Jack Hubbard - October 27

Effective Business Development Calls - October 28


Introduction to Consumer Lending - November 12

Basic Cash Flow Analysis-Personal, Business, Real Estate - November 13

Universal Banker I – November 17

Universal Banker II – November 18

Branch Manager III – November 19

Branch Manager IV – November 20

The health and well-being of participants is our top priority. We are following guidelines set forth by state and federal health & human service agencies as outlined for Safe Meetings in Michigan. Your cooperation is greatly appreciated in following these guidelines before and during our events. Thank you for your support.

Click Here for Registration & Event Calendar

Human Resource Management School

The long-respected Human Resource Management School from the Graduate School of Banking is now being held October 26-30 in Madison, Wisconsin. We're planning a high-energy program that showcases the important linkages between HR best practices and bank profitability.

Learn More


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For more information on Endorsed Partners and Products, click here.


Top 5 Most Common Incident Response Scenarios

Whether it is phishing, malicious network scanning, or ransomware, cyber incidents can be overwhelming experiences. To help you be more prepared, let's discuss the five most common Incident Response scenarios, as well as how to Protect, Detect, and Respond to each one. Read the blog or visit https://www.sbscyber.com.


Follow the MBA on Social Media for MBWCF Tips - #WorkCompWednesday

Each week, the Michigan Banker Workers Compensation Fund publishes tips on how to be safe in the office. Read this week's tip here.

Past #WorkCompWednesday Tips:

Do you walk & talk?

It is a watch or a warning?

Working while Distracted

Giggling is good for you!


Join the Bankers Alliance!

Bankers Alliance offers the only banking industry compliance resource that is owned, operated and managed by State Banking Associations.  Based on the needs of community bankers, Compliance Alliance, Review Alliance and Virtual Compliance Officer provide its members an ever-increasing set of bank compliance tools and services that help them stay up-to-date with consumer and regulatory requirements. 

To become a member of Compliance Alliance and to learn more, contact Jill Verscheure.

Learn More

Promontory Network - New Podcast

MBA Endorsed Partner, Promontory Interfinancial Network has started a podcast, Banking with Interest, which is dedicated to talking directly with experts about the forces reshaping financial services—and what the industry should be doing to meet the challenges of the moment. Hosted by award-winning former journalists, Rob Blackwell and Barbara Rehm, the podcast features a wide variety of voices, including top executives at banks of all sizes, venture capitalists focused on the fintech space, and current and former regulators. Guests have included entrepreneur and Shark Tank co-star Mark Cuban, Lending Club Chairman and VC Hans Morris, Goldman Sachs’ Harit Talwar, ICBA Chairman Noah Wilcox, former CFPB Director Richard Cordray, influential community bank CEO Jill Castilla, and many more.

To subscribe to the podcast, please click here for iTunes, Spotify, Google Podcasts, or Stitcher. You can also find all episodes available on Promontory Interfinancial Network’s home page here.

BankRPA Website

Cherrywood Enterprises is a buyer of charged off loans. We buy charged off credit cards, consumer loans, auto deficiencies, commercial loans, judgments and over draft accounts.

To learn more, visit the Cherrywood Enterprises website.

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Michigan Business Network is an online broadcasting company that provides knowledge, news, and insights into Michigan’s businesses, industries, and economy.