| | | The NCBA has joined with state bankers associations nationwide in sending a letter to the Treasury Department urging officials to conduct a study of the $2.37 trillion credit union system and whether its activities align with its tax-exempt status. | | The letter notes that 450 credit unions now hold more than $1 billion in assets, credit unions announced 22 bank acquisitions last year totaling nearly $12 billion in assets, and one federal credit union even bought the multimillion-dollar naming rights to the Washington Commanders’ NFL stadium. |
|
|
|
| | Finally, the letter encourages the Treasury Department to provide recommendations about whether Congress should introduce legislation to require all credit unions to pay federal income tax and compel federal credit unions to pay unrelated business income tax like other nonprofits. |
|
|
|
|
| Upcoming Training and Conferences |
|
|
|
| | | |
|
| | | | Patti Joyner Returns for the 2025 Fall Compliance Update! | September 11-12, 2025 |
|
|
|
| | Patti Joyner is returning in the fall to guide our bankers through the murky waters of compliance! This day-and-a-half comprehensive Fall Compliance Update will cover everything you need to know surrounding current compliance issues in the banking industry.
Expand your staff’s understanding and expertise in some of the most critical skills they will ever possess – skills that can protect your profits in times of tight margins and sustained high expectations! |
|
|
|
| |
|
| | | | | Federal Legislative & Regulatory Update |
|
|
|
|
|
| | | The U.S. House of Representatives is currently in recess this week and will remain in recess until September 2. Meanwhile, the U.S. Senate will be in recess beginning next week, with a return also scheduled for September 2. |
|
|
|
|
|
| | Senate Housing-Related Bills |
|
|
|
| | The Senate Banking Committee has advanced a bill entitled the Renewing Opportunity in the American Dream (ROAD) to Housing Act of 2025. The bipartisan bill sponsored by Chair Tim Scott (R-SC) and ranking member Elizabeth Warren (D-MA) seeks to expand and preserve the housing supply, improve housing affordability and access, advance accountability and fiscal responsibility, and improve oversight and program integrity. |
|
|
|
 | | R-to-L: Sen. Tim Scott and Sen. Elizabeth Warren |
|
|
|
|
|
| | The legislation directs HUD to create a new grant and loan program for qualifying homeowners and small landlords to address home repairs and health hazards, develop best practice frameworks for zoning and land-use policies, and create a pilot program to incentivize housing development of all kinds in Community Development Block Grant participating jurisdictions. |
|
|
|
| | Also of note, Senators Thom Tillis (R-NC) and Ruben Gallego (D-AZ) have introduced the “Housing Supply Expansion Act of 2025” (S. 2414), which would remove a HUD requirement that manufactured homes be constructed with a permanent chassis “to assure the initial and continued transportability of the home.” The bill would amend language in the “National Manufactured Housing Construction and Safety Standards Act of 1974” to make the permanent chassis optional. |
|
|
|
 | | L-to-R: Sen. Thom Tillis and Sen. Ruben Gallego |
|
|
|
| |
|
| | Notable Banking Bills in the U.S. House |
|
|
|
| | Last week, we told you about the introduction by Rep. Tim Moore of H.R. 4478 – the TRUST Act of 2025 – that seeks to raise the asset limit for community banks to qualify for a longer 18-month examination cycle from $3 billion to $6 billion. Shortly before the House went into recess, the House Financial Services Committee advanced the bill by a vote of 48-0. |
|
|
|
| | |
|
| | | A group of 32 state attorneys general have sent a letter to Congressional leaders endorsing the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would allow cannabis businesses to access deposit accounts, insurance and other financial services. They noted that 39 states, three territories, and the District of Columbia now permit medical use of cannabis products, while more than two dozen states and territories regulate cannabis for nonmedical use. |
|
|
|
| | Legal cannabis retail sales reached $30.1 billion nationwide in 2024, a 4.5% increase year-over-year, they said. The Attorney General for North Carolina is not a signatory, nor are the Attorney Generals of our surrounding states, with the exception of Georgia. |
|
|
|
| |
|
| | FHFA Proposes to Repeal Rules |
|
|
|
| | FHFA is proposing to repeal the Fair Lending, Fair Housing, and Equitable Housing Finance Plans, a final rule proposed in 2023 and finalized in 2024 that codified many of its practices and programs regarding fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Written comments must be received on or before September 26, 2025. |
|
|
|
| | The notice explains that FHFA regards many of the regulations as unnecessary and redundant. FHFA also explained that it has sufficient “general regulatory authority over its regulated entities to ensure that the purposes of applicable law are carried out.” |
|
|
|
| |
|
| | | | State Legislative and Regulatory Update |
|
|
|
|
|
| | | The NC House and the NC Senate have agreed upon an adjournment resolution for the 2025 session. The resolution sets the expected start date for the 2026 short session as April 21. The resolution provides that when the General Assembly adjourns this week it will reconvene briefly August 26-28, September 23-25, October 21, November 18, December 16, January 13, February 10, and March 10. |
|
|
|
| | On each of these dates in the interim, the adjournment resolution limits the topics that may be considered, but legislators are free to further modify the adjournment resolution if they can reach agreement in both chambers. Monthly intervals also give flexibility to bring forward attempted overrides of gubernatorial vetoes. There is the possibility too that legislators may use the conference report process, whereby they take a bill that has previously passed both chambers but has competing versions and add sometimes unrelated provisions into the bill, with the bill then subject to an up or down floor vote in each chamber with no amendments possible. |
|
|
|
| |
|
| | Legislators Leave Raleigh Without a Final Comprehensive State Budget |
|
|
|
| | During the General Assembly’s session this week, legislative leaders voted upon a number of bills, including veto overrides, but they did not advance a final state budget bill. | | As reported previously, leaders of the two chambers remain at an impasse, among other things, over their differing views on accelerating further reductions in the individual income tax rate. |
|
|
|
| | However, they reached agreement on a “mini budget” in the form of House Bill 125 and circulated a summary of the bill that will be retroactive to July 1, 2025, the start of the new fiscal year. |
|
|
|
| |
|
| | Matters Covered by the General Assembly This Week |
|
|
|
| | The House and Senate have passed a variety of new bills of note. The General Assembly passed veto overrides this week of: | - House Bill 193 – Firearm Law Revisions (creating new exceptions to the prohibition on carry weapons on educational property),
- House Bill 318 – The Criminal Illegal Alien Enforcement Act (regarding cooperation with Immigration and Customs Enforcement of the U.S. Department of Homeland Security)
- House Bill 402 – Limit Rules with Substantial Financial Costs (requiring fiscal notes for state rulemakings with multi-million-dollar financial costs and in some instances requiring ratification by the General Assembly of particularly impactful rulemakings)
- House Bill 549 – Clarify Powers of State Auditor (amending the powers of the State Auditor and expanding the powers of the State to “force collect” certain debts owed to state agencies that are uncovered through an audit and are the result of fraud, misrepresentation, or other deceptive acts or practices by persons or entities doing business with a State agency)
- House Bill 805 – Prevent Sexual Exploitation/Women and Minors (dealing with a variety of matters including gender transitions)
- Senate Bill 254 – Charter School Changes (dealing with the responsibilities of the Charter School Review Board and other matters involving charter schools)
- Senate Bill 266 – The Power Bill Reduction Act (allowing an increase in base rates of an electric public utility for financing costs of certain construction projects and removing a carbon dioxide emissions goal)
- Senate Bill 416 – Personal Privacy Protection Act (prohibiting public agencies from collecting or releasing personal information about members, volunteers, and donors to 501(c) nonprofits except as permitted by state or federal law or regulation; the bill also prohibits the NC Bar’s IOLTA program from spending funds for any other purpose than administrative costs between the period of July 1, 2025, to June 30, 2026 [legislators are considering whether to repurpose IOLTA funds from civil court aid to criminal defense]).
|
|
|
|
| | |
|
| | | | Last Call for Fraud Academy! | August 12-14, 2025 |
|
|
|
| | | | Fraud is costing financial institutions valuable time and money, but your bank can fight back. Fraud Academy is a first-of-its-kind online training program designed to equip employees at all levels with the tools to detect, prevent, and mitigate fraud. Led by experts from the U.S. Secret Service, law enforcement, and fraud prevention specialists, this intensive, live streaming program covers over 18 fraud risk areas, including check fraud, elder fraud, cybercrime, and prevention strategies. | | Participants have the opportunity to earn: | - 17 CAFP (Certified AML and Fraud Professional)
- 13.25 CRCM (Certified Regulatory Compliance Manager)
- 6 CERP (Certified Enterprise Risk Professional)
- 1.25 CFTA (Certified Trust and Fiduciary Advisor)
| | There's only two more weeks before the launch of this year's Fraud Academy, but there's still time to sign up! Register your team for the ultimate fraud prevention training program today. |
|
|
|
| |
|
| | | Join us in Orlando for the Bank Trainers Conference & Expo! | October 7-9, 2025 |
|
|
|
| | | | Join us with our partners at OnCourse Learning for the 2025 Bank Trainers Conference, three days dedicated to the latest trends and tactics in training, learning and development (L&D), professional growth, and more. With inspiring keynotes, educational breakouts, hands-on workshops, and unique networking and entertainment experiences, it’s a can’t-miss event for anyone in the industry looking to connect, collaborate, and elevate. | | It’s where careers take off, institutions begin to scale, and industry leaders unite. |
|
|
|
| |
|
| | | Earn Credits through Online Professional Development |
|
|
|
| |
|
| | | | | | DataVerify Flood Services |
|
|
|
|
|
| | | A Community Bank Services endorsed vendor for over two decades—and also a National Flood Association (NFA) certified company— DataVerify Flood Services provides flood zone determinations nationwide with life-of-loan tracking. |
|
|
|
| | Lenders have an increased focus on the need to be fully compliant with flood act regulations. DataVerify Flood Services is dedicated to providing reliable flood zone determinations using powerful technology and experienced mappers to provide them in a timely and convenient manner. | | DataVerify Flood Services also offers efficient data retrieval via interfaces within many loan origination software (LOS) systems, online, or through email notification. Borrower Notices and Census Tract/HMDA data are available with flood zone determinations, as well as a map copy product with aerial imagery to show flood zones on or near the property. | | NC bankers can have access to efficient results through DataVerify Flood Services while also meeting The National Flood Insurance Program (NFIP) compliance requirements. Lenders can remain compliant today and throughout the life of the loan, even as flood zones change. | | Contact Teri Sizemore at (419) 660-8589 or teri.sizemore@dataverifyflood.com to discuss your specific flood zone determination needs. |
|
|
|
|
|
| | | JPMorganChase Celebrates Major Milestone in its Nationwide Retail Expansion in Charlotte |
|
|
|
| | JPMorganChase celebrated the grand opening of its newest branch in the vibrant SouthPark area of Charlotte, marking the 1,000th branch built since launching the firm’s market expansion initiative in 2018 to expand access to banking services in local communities in North Carolina and nationwide. |
|
|
|
| | | Since opening its first branch in North Carolina in Chapel Hill in 2019, Chase has opened more than 45 branches, bringing affordable and convenient financial services to communities in Charlotte, the Triad, the Triangle and beyond. By 2027, Chase expects to have more than 75 branches throughout the state. |
|
|
|
| | | “We’re thrilled to celebrate this milestone in Charlotte, a city known for its dynamic growth and community spirit,” said Jennifer Roberts, CEO of Chase Consumer Banking. “Our branches are more than just places to manage finances; they are hubs of personal connection and interaction, where our experts support customers' dreams and financial goals.” |
|
|
|
| |
|
| | | KS Bank Opens New Office in Bailey, NC |
|
|
|
| | KS Bank opened its 11th office, and first in Nash County in Bailey. The town has about 600 residents and is 15 miles west of Wilson. |
|
|
|
| | | "Like your town leadership, we believe, with all the regional development that is currently underway and coming, that Bailey and Nash County will be at the epicenter of continued expansion of the greater Triangle Region," KS CEO Earl Worley Jr. said in a release. | | KS has branches in Harnett, Johnston, Nash, Wake, Wayne and Wilson counties. It has assets of $613 million on December 31, and reported a $6.1 million profit. The market cap is $59 million. |
|
|
|
| |
|
| | | Merger of Pinnacle Financial Partners and Synovus Financial |
|
|
|
| | Pinnacle Financial Partners (Nashville, Tennessee) and Synovus Financial (Columbus, Georgia) have agreed to combine in an all-stock transaction valued at $8.6 billion. The combined company will have over $100 billion in assets. The deal is expected to close in the first quarter. |
|
|
|
| |
|
| | | Uwharrie Capital Corp Reports 2Q25 Earnings |
|
|
|
| | Uwharrie Capital Corp and its subsidiary, Uwharrie Bank, reported consolidated total assets of $1.17 billion at June 30, 2025, versus $1.13 billion at December 31, 2024. | | Net income for the six-month period ended June 30, 2025, was $5.4 million versus $4.6 million for the same period in 2024. For the six months ended June 30, 2025, net income available to common shareholders was $5.1 million, or $0.72 per share, compared to $4.3 million, or $0.60 per share, for the six months ended June 30, 2024. Net income available to common shareholders takes into consideration the payment of dividends on preferred stock issued by the Bank. | | Net income for the three-month period ended June 30, 2025, was $2.8 million versus $2.2 million for the same period in 2024. For the three months ended June 30, 2025, net income available to common shareholders was $2.7 million, or $0.38 per share, compared to $2.1 million, or $0.29 per share, for the three months ended June 30, 2024. |
|
|
|
| |
|
| | | | I can be changed by what happens to me, but I refuse to be reduced by it. |
|
|
|
| | |
|
| | | NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US |
|
|
|
| | If you no longer want to receive emails regarding the NCBankers Bulletin, please profile. |
|
|
|
|
|
|
|