A vote for Senator Mark Udall's S.2231 is a vote against your Community Banks.
It's a scam. Just ask your Community Banker. ... More
Regulatory Feedback Initiative
The VBA is partnering with other state bankers associations to launch an important Regulatory Feedback Initiative (RFI) through an organization called the Alliance of State Bankers Associations. Click the link below for more information. ... More
9 VIRGINIA BANKS SHARE $53,321 IN PROFIT DISTRIBUTIONS
Virginia banks that purchase D&O and fidelity bond insurance from the ABA Insurance Program and are members of the American Bankers Association will share $53,321 in profit distributions this year from the program's reinsurer, American Bankers Mutual Insurance Ltd, which has declared a distribution of $4 million in underwriting profits to 995 banks nationwide that participate in the program. Insured banks that are members of the American Bankers Association are automatically owners of the company. ... More
Franklin Federal Savings Bank Hires Teachers to Instruct Children about Money
The Franklin Federal Savings Bank employee roster includes job titles you might expect – Teller, Loan Officer, Compliance Officer – and a position you might not expect – Elementary School Teacher. Franklin Federal Savings Bank employs 5 elementary school teachers with a plan to add more next year. The bank began teaching its proprietary financial literacy curriculum, Making Money Count™, at 10 Richmond public elementary schools last spring. The one-hour “edutainment” program reinforces second-grade SOLs in math, economics, civics and oral language. The positive response combined with the need for personal financial education and recent budget cuts in area schools drove Franklin Federal to expand the program significantly. It is now available – free of charge - to all elementary schools in the city of Richmond and surrounding counties of Chesterfield, Hanover and Henrico. A team of four experienced school teachers is led by Michelle Mogel, Franklin Federal’s Financial Literacy Program Manager and author of Making Money Count™. The Richmond Times Dispatch recently did a piece on Franklin Federal’s program. Click here to see it! ... More
Share the Wealth: A Financial Literacy Video Contest
Undergraduate students from the University of Richmond, Virginia Commonwealth University, Virginia Union University and Virginia State University were challenged by the Federal Reserve Bank of Richmond to create short, 30 second videos on a financial literacy topic of their choice for the Share the Wealth: A Financial Literacy Video contest. Each team consisted of three undergraduate students and a faculty advisor from their respective university. The Virginia Bankers Association helped judge the videos, and winning videos are featured on the Richmond Fed website and are being used to inform and provide an innovative financial resource to the public. The undergraduate students created the videos for a 16 to 25 year old audience, and they covered a variety of financial literacy topics. The winning videos of the contest are available for use free of charge. If you would like to request copies of the videos to play in your lobby or at special events, please contact Amanda Gibson at amanda.gibson@rich.frb.org or 804.697.8107. Click here to see the winning videos! ... More
Bankers Insurance Top 100 Broker in the United States
Bankers Insurance, LLC entered the Business Insurance publication Top 100 Agents and Brokers in the United States at #93. Congratulations to all that contribute to the success of the company. ... More
Financial Stability Oversight Council Holds First Meeting
The Financial Stability Oversight Council at its first meeting Friday issued an advance notice of proposed rulemaking on designating when nonbank financial companies would require heightened supervision. The proposal, which will have a 30-day comment period, consists of 15 questions, including what metrics the council should use in its determinations.
The council also issued a notice and request for information -- with a 30-day comment period -- on the council’s study on the Volcker Rule, which prohibits financial institutions from engaging in proprietary trading activities and certain private fund investments. The council is required to make recommendations by Jan. 22, 2011, to guide coordinated agency rulemaking on the Volcker Rule. ... More