Posted April 28, 2016
Phase 1 implementation of the Same Day ACH Rules change will take place Sept. 23, 2016. From that point forward, any current day or stale day date in the effective entry date field of a credit entry will, in most cases, activate same-day processing.
A Same Day Entry Fee of 5.2 cents per such transaction will be charged to the originating depository financial institution and credited to the receiving depository financial institution. Given the potential impact of the new fee on banks with sizable sale-dated transaction volume, the Federal Reserve Bank suggests that all originating depository financial institutions assess how much stale-dated transaction volume they currently originate—and recommends that they work with their originators to remedy the situation before the Same Day Entry Fee goes into effect.
A March 14 Federal Reserve Financial Services memo, as well as other information on this topic, can be found at frbservices.org.
Posted April 25, 2016
In the current environment of rapidly evolving regulation, staying current with ACH-related requirements can be a challenge. Regulators at the state and federal levels require board-approved policies to define the scope, strategy and risk tolerance of a bank’s ACH services.
Adhering to well-thought-out procedures can reduce your exposure to operating risk.
With this in mind, Bankers’ Bank of the West encourages you to take part in the next two webinar classes in the 2016 series open exclusively to BBW customers. Both of the 90-minute sessions, which will be led by the WesPay payments association’s professional trainers, will examine ACH policies and procedures from the perspectives of both the originating and the receiving financial institution.
Part One of the WesPay course entitled “ACH Policies & Procedures” is scheduled for June 7; Part Two will be held June 24. For complete information, including webinar times, content descriptions and registration form, email your request to firstname.lastname@example.org.
Posted April 2016
Registration and logistical details are available for the October 2016 two-day program known as Loan Officer Financial Management Training. The course has been sponsored annually since 2008 by Bankers’ Bank of the West to extend access to high-quality, job-specific education for community bankers in its service area.
The interactive, hands-on seminar focuses lenders on cultivating effective techniques, strategies and tools they can put to immediate use for the benefit of their bank as well as their commercial customers. The curriculum, with its emphasis on relationship-building, is geared toward experience business loan officers with portfolio, underwriting, or calling responsibilities. Download the course brochure to learn more.
Posted April 2016
Got motorcycle? The sponsors of the 12th Annual Bankers and Bikes Rally invites “anyone interested in a relaxed event with other bankers and business partners” to participate in the ride scheduled for June 4 through June 10, 2016. The tour starts in Jefferson City, Mo., and stops in Wichita, Kan., and La Junta, Colo., before reaching its destination: the Madeline Resort and Spa in Telluride, Colo.
The cost of $1,600 per couple includes breakfasts and other designated meals as well as two receptions. Visit bankersandbikes.com for more information.
Posted January 25, 2016
A January 21, 2016 news release indicates the Board of Directors of the Federal Deposit Insurance Corporation is seeking comment on an amended proposed rule that would change the way smaller banks’ assessments for deposit insurance is calculated. The revised rule would pertain to banks with less than $10 billion in assets that have been insured by the FDIC for five or more years.
The FDIC has requested comments from bankers and the public on the revised proposal. Feedback will be accepted for 30 days following publication in the Federal Register.