August 24, 2023

MBA Releases 2023 Edition of ‘These Laws Affect You’

As a service to our members, MBA publishes “These Laws Affect You” each year. This publication summarizes all legislation signed into law that may affect the banking community and/or customers. MBA encourages bank leaders to distribute this report to their compliance, operations and lending staff for review.

“The 2023 session was another successful year as MBA helped steer several member-driven priorities through the legislative process,” said Keith Thornburg. “In total, seven provisions supported by MBA were signed into law by Gov. Parson. On behalf of the MBA, we thank our bill sponsors, leadership and, most importantly, our members for their help in ensuring these important measures became law.”

Among the highlights are Senate Bill 13, which includes provisions that protect banks from potential lawsuits by clarifying current credit card lending law and makes several updates and reforms for the Missouri Division of Finance. Senate Bill 186 is intended to curtail ATM smash-and-grab thefts and skimming device crimes by enhancing state penalty provisions.

MO Farm Bureau Director to Discuss Current Ag Conditions at Regional Meetings

Davin Althoff, director of marketing and commodities with the Missouri Farm Bureau, will join MBA’s regional meetings to discuss the current conditions facing Missouri’s agricultural community.

“This summer’s drought has had a tremendous impact on Missouri farmers,” said MBA Senior Vice President David Kent. “Farmers also are combatting higher inflation and rising costs to run their operations. Davin will provide bankers with an overview of Missouri’s ag industry and what to expect in the coming months.”

The regional meetings also feature an opportunity for bankers to ask questions of both state and federal regulators. Representatives from the Missouri Division of Finance, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and the Federal Reserve will be in attendance.

MBA is offering discounted pricing for NextGen members attending the regional meetings. For each fully paid registrant from a bank, a NextGen Banker from the bank may attend at half price. This individual must be a member of MBA's Next Generation in Banking. MBA also is hosting networking events for NextGen members following the regional meetings.

Bipartisan Support Grows for ACRE Act

Nearly two dozen lawmakers from both political parties have signed on as co-sponsors to legislation that would make it easier for farmers, ranchers and rural families to access affordable real estate credit. The Access to Credit for our Rural Economy Act was introduced earlier this year in both the U.S. House and Senate, with the number of co-sponsors of the House version having recently grown to 20 lawmakers.

The ACRE Act would give community banks the same tax-exempt status on certain earned interest that applies to farm credit institutions, allowing farm real estate borrowers and rural homeowners access to lower interest rates. The exemption would also apply to single-family home mortgage loans in rural communities with fewer than 2,500 residents and for mortgages less than $750,000.

“MBA sees real opportunity to move ACRE at the federal tax level,” said MBA President and CEO Jackson Hataway. “This will be a top priority we discuss with our congressional delegation during our Washington Visit in October.”

MBA encourages bankers to contact their U.S. senators and representatives to sign on as co-sponsors for the ACRE Act.

Robb, ABA to Preview Fall Advocacy Outlook

American Bankers Association Chairman Dan Robb with Jonesburg State Bank joins ABA President and CEO Rob Nichols and ABA staff for a free webinar highlighting the latest developments on the key issues facing the banking industry this fall. The webinar is scheduled for 1 p.m. Tuesday, Sept. 12, and will cover these topics.

• the outlook for post-Silicon Valley Bank regulatory changes
• the ongoing threat posed by the Durbin-Marshall credit card bill
• ABA’s ongoing legal challenges to the Consumer Financial Protection Bureau

“This ABA webinar is a great opportunity for MBA members to hear directly from ABA about significant issues affecting our industry,” said MBA President and CEO Jackson Hataway. “This provides a good preview of the legislation that will discuss with our congressional delegation during our Washington Visit this fall.”

Missouri bank leaders are encouraged to join Hataway for MBA’s Washington Visit scheduled Oct. 15-18. The visit includes visits with Missouri lawmakers on Capitol Hill and meetings with regulators.

MBA Encourages Donations to Assist in Maui Wildfire Recovery Efforts

The scenes of the devastating wildfires in Lahaina are simply heartbreaking. One can only imagine the overwhelming emotions consuming those mourning the loss of loved ones and their entire communities.

The Hawaii Bankers Association reported four of five bank branches in Lahaina were destroyed by the fires, and as many as 22 bank employees lost their homes. To assist with recovery efforts, MBA is donating to the Hawaii Community Foundation’s Maui Strong Fund. This fund provides financial resources that can be deployed quickly, with a focus on rapid response and recovery. 

MBA encourages its members to donate to the Maui Strong Fund to assist in recovery efforts; 100% of the funds will be distributed for community needs. Banks and their employees from across the nation assisted our state when an EF5 tornado struck Joplin in May 2011, and those resources were vital in helping to rebuild the community. 

Donations can be made online. For those wishing to donate by check, please send your check to MBA by Friday, Sept. 15, and MBA will submit one check to the Maui Strong Fund. If donating by check, please make check payable to the Missouri Bankers Association and write “Maui Strong Fund” in the memo. You also may mail checks, payable to Hawai‘i Community Foundation and “Maui Strong Fund” noted in the memo, to the following address.

Hawai‘i Community Foundation
827 Fort Street Mall
Honolulu, HI 96813

Thank you for your consideration to support the Lahaina community.

ABA Releases New #BanksNeverAskThat Toolkit

In preparation for the Oct. 2 launch of the next #BanksNeverAskThat anti-phishing campaign, the American Bankers Association unveiled a free, plug-and-play toolkit of campaign resources for banks that participate. The toolkit includes evergreen and holiday social media, including Spanish-language versions; digital signage and resources; and marketing and PR resources, including a new PowerPoint presentation on phishing. MBA encourages banks to register for #BanksNeverAskThat; registration is free for all banks.

FDIC Revises Fair Housing Poster

MBA was notified by the Federal Deposit Insurance Corporation today that the revised Fair Housing Poster for FDIC-supervised banks is available to order from the FDIC Connect online catalog. A bulletin is expected from the FDIC announcing the poster’s availability.