Visit us online: Website | NCBA LinkedIn | NCEL LinkedIn A Fond Farewell to OCOB’s Edenton Office The North Carolina State Banking Commission met on Wednesday for a regularly scheduled meeting. The meeting was historic as this is projected to be the last meeting of the Banking Commission to be held in the hearing room at 316 W Edenton Street in downtown Raleigh. Read More ▶   Upcoming Professional Development: Fraud Academy - August 12-14 CAVA RMA Commercial Lending School - October 20-24 Upcoming Annual Conferences: 2025 NCBA/OBL Annual Convention - June 23-26 2025 North Carolina School of Banking - July 21-25 NC Emerging Leaders Conference - November 3-4 2025 Management Forum - November 4-6 Pictured in the center are Commissioner of Banks Katherine M.R. Bosken and Brandon Watson, Chief Financial Officer, NC Department of State Treasurer. Save the Date for Two Exciting Leadership Events | November 3-6, 2025 This November, two generations of banking leadership come together at the historic Omni Grove Park Inn. Don't miss these back-to-back annual traditions: North Carolina Emerging Leaders Conference | Nov. 3–4 Management Forum | Nov. 4–6 Join us in Asheville, where tomorrow’s leaders will meet today’s decision-makers to exchange ideas, build connections, and shape what’s next for North Carolina's banking industry. Save the date and keep an eye out for more information as we approach the fall! State Legislative & Regulatory Update General Assembly Activity Legislative activity has ramped back up at the General Assembly. Although the NC House and NC Senate have not yet agreed upon a state budget, they have resumed hearing and voting upon bills in legislative committees. In general, the bills that are moving are either noncontroversial, or have been extensively vetted. If the current pace holds, then legislators will be well-positioned to take a break toward the end of this month if they choose to do so.  Agreement on the state budget is still possible, but it is also quite possible that legislators could adjourn until the fall or until budget negotiations are concluded. Please find included with today’s Bulletin a copy of our Bill Tracker that provides the current status of the bills we are monitoring. Congressional Bills of Note In addition to advancing legislation restricting trigger leads, the House Financial Services Committee advanced two other bills of note this week. These include: H.R. 2835, the Small Bank Holding Company Relief Act, which would raise the asset threshold to qualify as a Small Bank Holding Company from $3 billion to $25 billion. H.R. 3709, the Advancing the Mentor-Protégé Program for Small Financial Institutions Act, which would establish a Treasury Financial Agent program enabling partnerships between large financial institutions, minority depository institutions, rural community banks, and other institutions. Federal Legislative & Regulatory Update Preemption: A Cornerstone of the Dual Banking System Acting Comptroller of the Currency Rodney Hood has reaffirmed the OCC’s support of preemption as a cornerstone of the dual banking system and fundamental to the operation of the federal banking system. In a letter responding to a Conference of State Bank Supervisors request that the OCC rescind its preemption regulations, Hood said the OCC’s preemption regulations are consistent with federal law and Supreme Court precedent and enable local and national prosperity and growth. Acting Comptroller of the Currency Rodney Hood Trigger Leads Legislation The House Financial Services Committee held a markup on Tuesday that included H.R. 2808, the Homebuyers Privacy Protection Act. Rep. Tim Moore and Rep. Deborah Ross are cosponsors of the legislation, which would amend the Fair Credit Reporting Act to prohibit a credit reporting agency from selling “trigger leads” when a consumer applies for a residential mortgage.  Federal Reserve Governor Bowman’s Priorities In a speech, Federal Reserve Governor Michelle Bowman has outlined her priorities as the new vice chair for supervision. Among her focus areas are: regulatory tailoring, check fraud, realigning financial condition and supervisory ratings, revisiting the role of guidance, reassessing capital requirements, reviewing regulations for continued relevance, and streamlining the process for evaluating and reviewing de novo bank and bank merger applications. Federal Reserve Governor Michelle Bowman The ”CEASE Act” The House has voted in favor of H.R. 2987, the Capping Excessive Awarding of SBLC Entrants Act (CEASE Act). The bill would restrict to 16 the number of for-profit small-business lending companies (SBLCs) eligible to make loans under the Small Business Administration’s 7(a) Program.  In 2023, the SBA lifted the moratorium on the number of SBLCs that could participate while simultaneously loosening underwriting standards for these loans. Since that time, there have been increased defaults, particularly in loans originated by nonbank lenders. Tax Foundation Calls Out ‘Unfair Competition’ The Tax Foundation has zeroed in on one of the major issues that Congress has so far failed to address in the budget process and the ongoing discussions over H.R. 1, the One Big Beautiful Bill Act. In its critique, the Tax Foundation urges Congress to revisit the issue of credit union taxation.  “While [H.R. 1] makes some progress closing loopholes, in the banking sector it leaves in place a long-standing provision that exempts credit unions from federal and state income tax, allowing them to compete unfairly with banks and, increasingly, to buy them.” As noted by the Tax Foundation, total credit union assets now total $2.3 trillion. The average credit union had $519 million in assets in 2024 versus $179 million in 2014, up 116 percent after adjusting for inflation. More than 400 credit unions have at least $1 billion of assets, and 20 have assets exceeding $10 billion. FinCEN Advisory FinCEN has issued an advisory to assist financial institutions in identifying and reporting potential sanctions evasion and suspicious activity connected to Iran. NCBA Announcements NCBA Announces New Partnership on BankWork$! We are excited to announce a new partnership with CareerWork$ on its Bankwork$ training program, which helps young adults in the Triangle and eastern NC jumpstart careers in banking. The program supports NCBA members and other financial institutions with identifying and recruiting talent by connecting them with BankWork$ graduates, while providing graduates with the skills and opportunities to launch meaningful careers in banking. The no cost, eight-week program’s anticipated launch is in September and will be held at the NCBA’s learning center in Raleigh. By combining NCBA and BankWork$ resources these young adults – often from under-resourced communities – will learn banking-specific skills including cash-handling and fraud detection, as well as relationship building and problem solving. Graduates often become branch bankers, client service representatives, and lead tellers. “We’re excited about our partnership with BankWork$ because this is an important initiative that supports our commitment to workforce development,” said NCBA President & CEO Peter Gwaltney. “Not only does it expand the entry-level talent pipeline for our members and other financial institutions, but it also offers life-changing opportunities for these individuals.” BankWork$ has an impressive track record. Seventy-two percent of its graduates remain with their bank after 12 months. “This program is designed to help launch successful banking careers and make graduates more marketable to employers,” said Ranko Fukuda, Managing Director at CareerWork$. “And we are very confident this joint effort with the NCBA will continue to do exactly that in the Triangle and eastern NC.” Get Inspired at the 2025 Women Lead Symposium | July 17, 2025 Bold Leadership. Real Conversations. Unmatched Insights. Ready to lead with confidence and make a lasting impact? The Women Lead Symposium is a half-day virtual program designed to equip you with the insights and skills to grow as a leader, no matter your title or experience level. Hear from inspiring speakers, engage in real conversations about leadership in banking, and walk away with the tools to elevate your career and your institution. This collaborative event—hosted by the ABA, NCBA, and a coalition of state bankers associations—also offers valuable guidance for navigating key leadership roles, expanding your professional network, and driving long-term success at your bank. Registration Fees:  Individuals - $149  Groups (5 Bankers) - $499 View Program   Register Now   Raise Your Hand for the Chance to Learn at the North Carolina School of Banking | July 21-25, 2025 Ready to take the next step in your banking career? Join the next generation of financial leaders at the North Carolina School of Banking, the state’s premier program for emerging talent in the banking industry. From July 21-25, spend a full week in Boone learning from top industry experts, connecting with peers from across the state, and building the skills you need to lead in a rapidly changing financial world. Don’t miss this opportunity to grow your knowledge, your confidence, and your network. Submit your application today. Learn More & Sign Up   Earn Credits through Online Professional Development Responsibilities of the Information Security Officer - June 17  2025 Fair Lending All-Day Live Streaming - June 24 - 7 CRCM Credits Alert! Beneficial Ownership Evolution – New Interim Final Rule - June 27 AI and Microsoft Excel - July 1 - 2 CPE Credits Total TRID Training - 4 Part Series - July 7 - 10 CRCM Credits Consumer Lending - July 7 - October 24 (ABA) The Banking Industry - July 7 - August 1 (ABA) Small Bank Community Reinvestment Act (CRA) Workshop- July 9 - 3 CRCM Credits The Board Secretary Role: Organizing, Planning, Tracking & Maintaining Accurate Records - July 10 Red Flags for Money Laundering - July 10 Consumer Lending Training Program - July 15 Hot Topics in the IT Examination - July 18 Analyzing Financial Statements - July 21 - November 7 (ABA) Building Customer Relationships - July 28 - August 22 (ABA) Managing The Bank’s Investment Portfolio - July 28 - August 29 (ABA) Navigating New RTP and FedNow Rules - July 30 - 1 APRP Credit Unclaimed Property Compliance for Financial Institutions - July 30 Test Before You Test: AAP Exam Strategies Workshop - July 31 - 3 AAP Credits Need credits? Earn SHRM, AAP, APRP, CRCM, CPE and more with our partnered webinars! CBS Spotlight Meet Your New Data Analytics Partner, Arkatechture! Community Bank Services has partnered with Arkatechture to empower community banks with Arkalytics, a powerful business intelligence and data analytics platform built specifically for financial institutions. Supported by a team of expert consultants, Arkalytics unifies data from across your systems (such as core banking, loan origination, online banking, CRM, and payments) into a single source of truth. With clean, connected data at your fingertips, your teams can easily analyze trends, uncover insights, and make faster, more informed decisions that directly improve customer experiences and support your mission. Industry Update First Federal Bank Names David Hall to Chief Banking Officer First Federal Bank has promoted David Hall to Chief Banking Officer. Hall, who joined the First Federal Bank team in 2020 as the Director of Commercial Banking, brings extensive experience in fostering commercial banking relationships, strategic leadership, and product development.  Jeff Whittington, President/CEO of First Federal Bank stated, “David is a proven leader in retail and commercial banking. In his new role, David will continue to lead First Federal Bank’s retail and commercial banking efforts and will now also lead the bank’s marketing efforts. I am confident that we will see continued success under David’s leadership.” David Hall, First Federal Bank Words of Wisdom Mistakes are the portals of discovery -  James Joyce NC Bankers Association | 3601 Haworth Drive | Raleigh | NC | 27609 | US If you no longer want to receive emails regarding the NCBankers Bulletin, please profile.