March 21, 2024
MBA Capitol Hill Visits Focus On ACRE, Credit Unions, Regulatory Burden
Thirty bankers from throughout Missouri joined MBA President and CEO Jackson Hataway in Washington, D.C., this week for the Washington Summit hosted by the American Bankers Association. Bankers met with seven of Missouri’s House representatives and staff members from both senators to discuss banking legislation, including the bipartisan Access to Credit for our Rural Economy Act. This bill, which is co-sponsored by Reps. Sam Graves and Ann Wagner, would make it easier for farmers, ranchers and rural families to access low-cost credit.
“ACRE was received positively in every office,” said MBA President and CEO Jackson Hataway. “From our discussions with Ways and Means Committee Chair Jason Smith, we hope to see ACRE included in the committee’s tax policy discussions this year or in tax policy discussions next year.”
The recent news concerning Navy Federal Credit Union’s lending practices spurred serious conversations about credit unions than in previous meetings with congressional members. Hataway said bankers discussed the tax status of the largest credit unions — which pay no federal taxes — and the need to include them in following the same Community Reinvestment Act requirements as banks.
Bankers also discussed their opposition to the Credit Card Competition Act, which Sen. Josh Hawley is co-sponsoring. Although bankers only met with Sen. Josh Hawley’s staff, they voiced their disappointment to his staff.
“Sen. Hawley’s office is feeling the impact of co-sponsoring this legislation,” Hataway said. “The banking industry of Missouri is a critical part of his constituency, and we strongly expressed our desire to see better representation from Sen. Hawley.”
In addition to legislation, MBA members also shared the burdens they are experiencing as a result of aggressive regulations.
“All of our congressional offices support the need to simplify regulation and ease the burden on banks as they try to support their communities,” Hataway said. “The overreach by federal agencies must be stopped by the courts or by Congress.”
Bankers representing the Show-Me State in Washington included 12 members of MBA’s Banking Leadership Missouri class. They are the first class of Banking Leadership Missouri to receive stipends from The Max & Cindy Cook Endowment for Advocacy and Leadership Training.
ABA, U.S. Postal Inspection Service Launch Effort to Combat Check Fraud
The American Bankers Association and the U.S. Postal Inspection Service announced a new joint initiative to combat the rapid rise in check fraud. The effort will focus on four areas.
- educating U.S. Postal Service and bank customers about check fraud and what they can do to protect themselves
- addressing money mules and collusive accountholders
- collaborating with law enforcement
- training bank employees and postal workers on red flags and prevention
Check fraud has increased nationwide by 385% since the pandemic, according to the U.S. Treasury Department. ABA and the U.S. Postal Inspection Service released an infographic to educate consumers about check washing and what they can do to protect their mail and their checks.
Last fall, MBA published a one-page flyer and social media posts to assist its member banks in helping their customers protect their money.
At MBA’s website, bankers can download three options for the flyers. These options allow banks to use materials with MBA’s logo and contact information or to use a template that banks can brand with their logos and contact information. Another option is a co-branded flyer with MBA’s logo.
In addition to the flyer, MBA created three social media posts and graphics for banks to use. Graphics are available for Facebook, X, LinkedIn and Instagram.
A password to MBA’s website is required to access the documents. For more information, please contact MBA Senior Vice President Carol Barnett.
NextGen Announces 2024 Teach Children to Save Challenge
NextGen in Banking is excited to announce the Teach Children To Save 2024 Challenge! MBA member banks participating in the challenge could win $250 for local schools or organizations in their communities.
MBA’s Teach Children To Save Challenge celebrates National Financial Literacy Month in April. Throughout the month, Missouri bankers will teach basic savings principles to students in their communities.
Bankers who share photos of their presentations on their banks’ Facebook, X, LinkedIn or Instagram accounts and tag MBA (Facebook, X, LinkedIn or Instagram) will automatically be entered into a drawing to win $250 for a school or community youth organization from MBA.
“MBA will award four $250 prizes,” said MBA Vice President Emily Lewis. “We also encourage the winning banks to match this amount, giving a school or organization an opportunity to win as much as $500!”
The contest begins Monday, April 1, and ends Tuesday, April 30. Photos must be posted on social media channels, as well as tagging MBA, by 5 p.m. Wednesday, May 1. Additional details are posted online.
MBA To Host ‘She Gets It’ Leadership Series
MBA is partnering with state banking associations across the country and noted leadership speaker AmyK to bring a special online leadership program specifically designed for women bankers.
The “She Gets It Mastermind – Learn the Language of Self-Leadership” is a foundational, six-week program that will help attendees regroup, recenter and reset.
“This series provides tools and resources to focus on your priorities, fuel your energy and align your actions with your ideal life and career,” said MBA Senior Vice President Cheri Messerli.
The program begins April 9 and concludes May 14. Each 90-minute session begins at 11 a.m., and sessions will be recorded.
Additional details are posted online.