Community Bankers Association of Georgia Offers Members Unique Opportunity with CFPB Deputy Director On February 27, 2014, the Community Bankers Association of Georgia (CBA) offered representatives from Georgia’s banking community the opportunity to meet with Deputy Director Steve Antonakes and other staff members of the Consumer Financial Protection Bureau (CFPB). CFPB officials traveled from Washington, D.C. to Atlanta in order to address direct questions from ten CBA member banks as well as executives from ten Georgia Bankers Association member institutions. The 90-minute roundtable was held at the Federal Reserve Bank of Atlanta Conference Center before Thursday’s 2014 Banking Outlook Conference. The discussion covered a wide-range of topics, including the effects of new regulation regarding debt collection practices, balloon mortgage loans and qualified mortgage changes. Antonakes also addressed banker’s concerns about traditional borrowers not fitting the CFPB’s ability-to-repay and qualified mortgage rules and also touched on the future of overdraft policies. Bankers attending on behalf of Community Bankers Association of Georgia included: David Caswell, Century Bank of Georgia, Cartersville; Charlie Curry, First State Bank of Randolph County, Cuthbert, 2013-2014 CBA Chairman; Jimmy Dubberly, South Georgia Bank, Glennville; Bob Johnson, Georgia Banking Company, Atlanta; Rhodes McLanahan, First American Bank & Trust, Athens; Dan Oliver, Vinings Bank, Smyrna; Brad Serff, Providence Bank, Alpharetta; Heather Stanford, State Bank & Trust Company, Macon; and Scott Tomlinson, & Frank Griffin, Flint Community Bank, Albany. “The meeting offered banks from across the state an opportunity to express concerns regarding not being able to meet our customers’ needs due to the current regulations,” explained CBA board member Scott Tomlinson, President & CEO of Flint Community Bank in Albany, GA. “It was encouraging when the CFPB pledged to return to Washington with our concerns, begin building historical data and encourage legislators to modify based on their findings.” “We are very appreciative of Deputy Director Antonakes for coming to Atlanta to meet with a contingent of our bankers,” stated CBA President & CEO Rob Braswell. “It’s always helpful for policymakers to hear first-hand the impact of their decisions on community banks and their customers. Likewise, it was very beneficial to hear the CFPB’s intent, focus of emphasis and philosophy directly from them. Although we may not always agree, both parties came away from the meeting with a better understanding of the other’s perspective.”
Posted on: Wed, 05 Mar 2014 14:15:32 +0000
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