VACB Chairman 2009
John Neal
President & CEO
Union Bank & Trust
Bowling Green, VA
Chairman's Letter
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Urge Congress to Make Changes to Regulatory Reform Plan
Access Link to Contact Your Congressman
 ICBA has created a customizable letter to help community bankers contact Congress to voice concerns with the Obama administration’s recent proposal to restructure the financial regulatory system. Community bankers need to weigh in with their members of Congress to express their opinions on the president’s plan.
While ICBA supports provisions in the plan that address systemic risk, maintain multiple regulators and charter choice and close the ILC loophole, it will continue to urge Congress to maintain the thrift charter and ensure any new regulatory agency provides meaningful consumer oversight without unduly burdening community banks.
To access the ICBA site and use their link to email your congressional delegates, click HERE.
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2009 ICBA Washington Policy Summit Yields Success
Virginia Community Bankers Gather in Washington, DC
Nearly 700 community bankers from all across the United States descended upon the Nation's Capitol last week (May 11 - 14) for the annual ICBA Washington Policy Summit.
Virginia was represented by members of the VACB leadership including VACB Chairman John Neal, Union Bank & Trust, Bowling Green; ICBA State Representative, Charlie Collum, Burke & Herbert Bank & Trust, Alexandria; Former ICBA Chairman Pierce Stone, Virginia Community Bank, Louisa, Larry Lyons, Central Virginia Bank, Powhatan, and Pat Satterfield, President & CEO of VACB, Richmond.
The Virginia contingency carried the industry's top priorities to the offices of Senator Mark Warner and Jim Webb. Among the issues discussed with the elected officials and their staff members were making permanent the increase to $250,000 for FDIC Insurance, extending borrowing authority for the FDIC to $100 million ($500 million in an emergency situation) in order to reduce the 20 bps special assessment that has been proposed, expanding the assessment base to include all assets (minus tangible capital) in order to restore premium parity between large and small banks, and allowing banks to amortize any special assessment over an eight year period.
Regulatory Restructuring, credit card legislation and interchange fees were other main issues brought to the attention of the Virginia Congressional Delegation. VACB member bankers are encouraged to engage Virginia’s elected representatives in discussions of these important issues at any appropriate opportunity. Background materials are available from ICBA at www.icba.org.
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Bank Policies Available for Purchase
16 Policies Currently Availble to Member Banks
One of the continuous responsibilities of community bankers is to write policies. These policies must meet the regulatory requirements and describe how a community bank plans on complying with the requirements. And this takes TIME, a lot of time. The Virginia Association of Community Banks has a simple, value-added service for you. VACB in now able to offer sample policies written with our community bank members in mind; realistic policies that will meet your bank’s needs as well as save you the time in coming up with the “policy language” you were searching for...and it is offered at a very reasonable price.
The policies currently available are listed in a separate document. To see the list of policies available and to download an order form, please click HERE. We will be adding policies to the list of offerings as they become available. So, whenever you need a policy, think VACB...we can save you both time and money. If you have additional questions, email kgarner@vacb.org
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ICBA Offers Print Ads for Community Banks
Customize Them and Use Them in Your Market
 In a new campaign to promote the continued safety and soundness of community banks, the Independent Community Bankers of America has two ads available to banks. These ads can customized and used in local markets. For more information on the ad sizes and how to customize them for your bank, please click here.
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Determining “Mental Competence”: The Banker’s Perspective -
Determining the mental competency of a customer is a legally complicated and undesirable situation for the bank. Absent a court’s legal adjudication of mental incompetency, the law generally presumes every adult is legally competent to transact bank business. However, customers are able to void contractual obligations to the bank if they were mentally inco... [ MORE ]
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Shelly Simpson, AAP, Mid-America Payment Exchang - Shelly Simpson, AAP, is the Payments Education Director with Mid-America Payment Exchange (MPX). Her primary responsibilities include designing, planning, and implementing education programs in support of ACH, cards, and checks to over 2,000 financial institutions and corporate members. She also conducts training and is responsible for overseeing the creation and maintenance of payment systems publications published by MPX. Shelly received her Accredited ACH Professional designation in October 2006. Prior to coming to MPX, she spent 11 years with the Federal Reserve Bank of Kansas City.
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Sign up for the 08/04/2009 seminar by Shelly Simpson, AAP, Mid-America Payment Exchang,
entitled Payment Systems Update, or view all programs on the VACB Calendar of Events.
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VACB Annual Convention
32nd Annual Convention Headed to South Carolina
VACB will hold its 32nd Annual Convention and Trade Show October 18-21 at The Charleston Place Hotel, in Charleston, South Carolina. To make your reservations, contact the hotel at 800-831-3490 and reference the VACB Annual Convention. Look for more details soon!
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