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Georgia Bankers in DC for ABA Washington SummitA group of Georgia bankers joined 1,400 of their peers from across the nation this week for the ABA Washington Summit. In addition to several networking opportunities, member bankers received timely updates from key leaders in Washington, including U.S. Treasury Secretary Scott Bessent, FDIC Acting Chairman Travis Hill, Senate Banking Committee Chairman Tim Scott (R-SC), and House Financial Services Committee Chairman French Hill (R-AK), among others. Additionally, ABA’s government relations team provided behind-the-scenes updates on major banking policy changes being considered by Congress and the Trump Administration.
On Tuesday afternoon, our group visited with several members of Georgia’s congressional delegation to advocate for banking industry priorities such as rolling back CFPB’s 1071 small business data collection rule, overturning CFPB’s overdraft rule, passage of the ACRE Act, and opposing federal interchange legislation such as the Credit Card Competition Act, to name a few. Member bankers also shared updates about their local economies and how their banks are working to serve their customers and communities.
This week’s advocacy efforts proved timely with a Wednesday afternoon vote in the House to approve a Congressional Review Act disapproval resolution to nullify the CFPB’s overdraft rule. Because the Senate had already approved the measure, it now heads to President Trump’s desk for a signature. On Thursday morning, the House voted to approve the Senate’s FY2025 budget resolution, which marks the beginning of the congressional process to extend the 2017 tax cuts and advance other key pieces of President Trump’s agenda.
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Stripe Latest to Seek Georgia MALPB CharterFintech company Stripe has applied for a Merchant Acquirer Limited Purpose Bank (MALPB) charter from the state of Georgia, and the Department of Banking and Finance has accepted its application for review. This type of charter, established by statute in 2012, would allow Stripe to become a direct member of Visa and Mastercard networks, bypassing the need for a sponsoring bank, known as a BIN sponsor, to process payments. It is important to note that the MALPB charter is narrowly focused on merchant acquiring and excludes deposit-taking or lending activities. Only two other companies, Fiserv most recently, have applied and received similar approval from the state. Stripe’s application will now undergo a detailed review process, which could take a minimum of 6-12 months. Even with conditional approval, final sign-off is also required from Visa and Mastercard.
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CFPB Plans New Rulemaking for Small Business Data CollectionLate last week, court documents filed by the CFPB noted the agency plans to initiate a new rulemaking for Section 1071 of the Dodd-Frank Act, following concerns over the complexity and regulatory burden of its 2023 rule on small-business lending data collection. The original rule faced significant criticism and legal challenges from groups including the Texas Bankers Association and American Bankers Association. The CFPB’s move is a welcome step toward reducing unnecessary compliance costs for banks. The agency plans to release a new proposal soon.
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Fraud AlertFake FNB Griffin Checks CirculatingWe’re asking members to be alert that counterfeit checks of an official First National Bank of Griffin account are being circulated. The bank says most posting attempts have been through banks in other states, but it wanted Georgia banks to be on the lookout for them, as well. If you get such a suspicious First National Bank of Griffin check, contact the bank’s accounting department at 770.227.2251, or accounting@fnbbanking.com.
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Survey: Strong Consumer Trust in BanksA new Morning Consult survey reveals high satisfaction and trust among U.S. bank customers. Here’s what the data shows:
- 89% of Americans are satisfied with their primary bank
- 93% rate their bank’s customer service as excellent, very good or good
- 79% have easy access to banking services
- 86% say their bank actively protects them from fraud
- 75% support efforts to expand credit access in rural communities.
The message from consumers? Americans trust their banks and want policies that enhance access to financial services. Read more.
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Continued Market Volatility Affecting 401(k) PlansAs 401(k) plan sponsors and participants have probably noticed in recent weeks, the market is continuing to experience volatility related to the recent tariff announcements. Over 80% of participants in the GBA Retirement Services’ Master 401(k) Plan are invested in our Managed Account option, called the “UnfiedPlan.” This enables participants to be well diversified based on their age, retirement readiness score, outside assets and other personal factors. This also helps to offset account balance declines during volatile times through proper asset allocation and oversight.
If your 401(k) Plan is with GBA Retirement Services, we wanted to share these memos from American Trust, the discretionary trustee and investment manager, of the GBA Master Trust. As a plan sponsor, you can read here about how to support your employees through market volatility. You may also share this memo with participants in your 401(k) Plan. This summary from Franklin Templeton further explains the importance of how staying in the market with a long-term focus can help participants avoid missing the “best days” in the market, which often happen following some of the “worst days in the market.”
Overall, we expect to remain in a volatile, choppy environment in the near term, with volatility as a normal feature of equity investing. Retirement plan investors should keep the following points in mind:
- Retirement plan investing requires a long-term focus. The S&P just finished its best 15-year period since 1970. Short term volatility should not distract us from investing in equities for the long term.
- Trying to time the market can be costly. If you would consider pulling some allocation out of the market today, would you know when to go back in? Guessing wrong means missing the corrections that come with market declines.
The best approach is to be sure your allocation matches your personal risk tolerance and that you have a diversified approach. Volatility can prompt emotional responses, so try to stay focused on maintaining the strategy you have built.
If you have any questions, please contact Mandy Richards at 404.420.2025 for more information.
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Bank Security Pros Sharpen Skills at GBA ConferenceSecurity professionals from banks across Georgia convened this week at the 2025 GBA Bank Security Conference to exchange ideas and enhance readiness for evolving threats. With a comprehensive agenda addressing physical and cybersecurity issues, the program was developed by the GBA Security Committee under the leadership of Committee Chair Scott Jackson, First Laurens Bank, and Vice Chair Jenn Whitmire, Pinnacle Bank.
General Session Highlights:
- Business Continuity: Shan Venable and Brian Frederick, Altamaha Bank & Trust, shared key takeaways from Hurricane Helene, emphasizing preparedness and resilience.
- De-Escalation Strategies: Sgt. Eric Rooks, Gwinnett County PD, offered tools for safely handling individuals in crisis.
- AI in Security: Steven Collinson, CBSI, discussed the dual nature of AI as threat as well as a tool in security work.
- Situational Awareness: Bryan McDonald, U.S. DHS, introduced the OHNO model for identifying suspicious behavior.
- ATM Security Planning: Pete Stuart, Morris Bank, led a hands-on exercise about planning for a new ATM location.
- Human Trafficking Panel: Experts from GBI, Georgia Department of Human Services, and the Criminal Justice Coordinating Council provided frontline guidance to spot and respond to trafficking threats.
Physical Security Track
- Workshops & Tabletop Exercise: Led by Pete Stuart, Morris Bank; Jenn Whitmire, Pinnacle Bank; and Brian Frederick, Altamaha Bank & Trust. These sessions focused on policies, procedures and peer-based program refinement.
- Robbery Prevention and Post Incident Planning: Carol Dodgen, Dodgen Security Consulting, shared strategies for safer branch environments. She also addressed recovery and employee support after violent events.
Cybersecurity Track
- Cybersecurity Management & Incident Response Simulation: Emily Strickland, Safe Systems, covered regulatory priorities and examiner expectations, and she guided attendees through a hands-on response scenario.
- Exam Insights: Cavin Tran, Federal Reserve Bank of Atlanta, reviewed top exam findings in data security.
- Incident Readiness: Ken Kulawiak, Wipfli, discussed tools and planning for faster, smarter response.
Thanks to our Sponsors (C Spire, platinum, Didgen Security, Silver) & Exhibitors (Allure Security, BankPac, CashTrans, CBSI, C Spire, dormakaba, QSI, Safe Systems, a UFS Company, Southern Bank Equipment & ATMs, STS Group, and Verint.) See photos from the conference here.
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GBA Staff ProfileMeet Cameron Sapp, GBA’s Accounting and Operations ProGet to know one of the key people behind the scenes at GBA—Cameron Sapp, our accounting and operations administrator. Cameron brings a strong sense of purpose to his role, inspired by his father’s example of leading with integrity and service. And when he’s not helping GBA run smoothly? He’s restoring vintage video game consoles or enjoying time at the beach with his wife and dogs. Click here to learn more about what makes Cameron tick, the surprising career path he nearly took, and which classic TV show still makes him laugh out loud.
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Ag Bankers…Connect and Learn at GBA’s 2025 RDL Conference – May 12-13Join us for GBA’s 2025 Rural Development and Lending Conference, May 12-13, and take advantage of these valuable opportunities:
- Timely insights on changing water flow regulations, legal updates, and key ag sectors like timber, poultry, and crop insurance.
- Farm Bill Listening Session featuring GBA President & CEO Tripp Cofield, Agriculture Commissioner Tyler Harper, and ag policy expert Bob Redding.
- Exhibitor connections and mini-presentations showcasing tools and resources to support your ag banking needs.
- Networking opportunities at the opening reception and throughout the event to strengthen relationships with industry peers and leaders.
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Exclusive AI Program – June 26Leveraging Generative AI Tools you can Actually Use in a Noisy Digital WorldIn today’s fast-paced digital world, banks must stay ahead of evolving technologies to thrive. Join us on June 26 at Middle Georgia State University for "Prime, Prompt, Perform: Leveraging Generative AI Tools You Can Actually Use.” This one-day workshop, led by industry expert Nick Schuster, CashTrans, will provide leaders throughout the bank with actionable AI strategies to enhance operational efficiency, prevent fraud and drive strategic success. Through real-world examples and hands-on activities, you’ll learn how to implement AI tools such as custom GPTs and AI notebooks to sharpen your organization’s competitive edge. Don’t miss this opportunity to gain the knowledge and confidence to navigate the AI-driven future of banking.
Who should attend? This has applications for all areas of the bank, not just IT pros.
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Registration Open!Women in Banking Conference, Aug. 14-15 at Chateau ElanSign up now for this year’s Women in Banking Conference, Aug. 14-15 at Chateau Elan Winery & Resort in Braselton. This event, a highlight for Georgia’s leading women bankers since 2014, offers two days of networking, inspiration, and professional development.
Who Should Attend?
Women from GBA member banks, Associate Members, Bank Counsel, Accountants, and GBA Strategic Partners.
What to Expect:
- Engaging sessions with inspiring speakers
- Interactive discussions for real connection
- A supportive, empowering community of women.
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| Registration Opening Soon!
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More Events and Training Opportunities Coming up
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Webinars - Great for Fundamentals TrainingWriting Teller Training and Procedures, Opening New Accounts Training Program and MoreHere’s a sampling of upcoming webinars.
Want to see the full webinar schedule? Check out our webinar calendar for a full list of upcoming webinars.
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| Calendar of Training and Events by subject/topic:
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Partners, Products & Associate Members
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How to Make Smarter Compensation Decisions in 2025The Georgia Banking Compensation Survey is open! Haven’t received your invite? Reach out to Rhonda Snyder at rhonda.snyder@pearlmeyer.com to join in. Here’s why participation is a smart move:
- Benchmark Compensation – Access detailed salary and incentive data.
- Spot HR Trends – Learn about raises, merit adjustments, and outsourcing.
- Stay Competitive – Make informed talent decisions with confidence.
- Great Value – Submit data and get the full report for $650 (regularly $1,495).
- Easy Timeline – Submit by May 23. Results available the week of Aug. 11.
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Explore What Choice in Debit Looks Like with GBA Partner Discover DebitA robust debit card portfolio can help you generate more revenue right now. Has your bank’s debit card program been on autopilot for too long? VISA and MasterCard will likely fight to keep your business, but Discover Debit wants to invest in your bank, your customers and your community. Recently-introduced cardholder benefits like credit monitoring and dark web monitoring backed by Experian® mean customers can feel more secure with their new debit card. By implementing Discover’s debit card program, you will also realize an immediate impact on your interchange income and expense. Discover® Debit is the only program that delivers superior economics, simplified rules, fee transparency and unmatched program flexibility. To find out more, contact Brian Harbin, brianharbin@discover.com, 678.325.9910.
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Learn about Attractive Tax Credit Opportunities for Banks from GBA Partner Monarch Private CapitalBanks continuously invest in activities that promote local community development. Whether your strategy is to narrow an affordable housing gap, support economic growth, or preserve history and contribute to town-center redevelopment, consider the many opportunities GBA partner Monarch Private Capital has to redirect tax dollars to fuel those specific preferences and see positive, quantifiable outcomes. Low-Income Housing Tax Credit (LIHTC) and Historic Tax Credit (HTC) financed projects meeting CRA requirements are also eligible for CRA credit. Learn how to redeploy dollars earmarked for federal and state income taxes to address your CRA objectives. Click the links below to learn more about these state credits:
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Compliance Alliance Question of the Week
Question: Our bank notified a customer that their provisional credit (following our Reg E error resolution investigation) was finalized, but then the merchant issued a credit as well. Is the bank able to recapture our provisional credit? (or the merchant credit?)
Answer: Unfortunately, Reg E itself does not appear to encompass - or even contemplate - such a scenario (that is, the reversal of final credit due to a subsequent merchant credit being awarded). In a strict reading of § 1005.11, no language expressly allows the reversal of a final credit or revision of the amount of final credit provided based on later information, such as a subsequent merchant credit. Indeed, not only does the regulation not specifically allow for this, but there would likely be UDAAP concerns with such a practice – particularly given that the customer had already been notified of their final credit, and any ensuing attempt by the bank to reverse this credit could be seen as “deceptive” (a misrepresentation that misleads the customer) or “unfair” (monetary harm to the customer that they could not reasonably avoid.)
While some may argue that in these instances, the customer may potentially be getting a “windfall” via double-crediting (i.e., both that from the bank and the merchant), one thing seems clear – Reg E, being consumer-protective in its creation and spirit, does not appear to permit a bank to claw funds back once they’ve been finalized.
Live demo signups for Compliance Alliance:
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Georgia's Banking Community
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Community Connections
We like to share all the good work GBA member banks, bankers, Associate Members and Bank Counsel Section members do to support their communities. Here's our latest installment:
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|  | Atlanta - Coastal States Bank
Bank team members recently supported several local organizations making a meaningful impact, including Autism-Improvised, William's House, Inc., Children’s Development Academy and the Georgia Festival of Trees.
| |  | Greensboro - Southern First Bank
As part of its April community outreach, the bank hosted a Junior Achievement of the Triad day at Rankin Elementary, teaching financial literacy and encouraging students to explore future careers.
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Monroe - Legacy State Bank
The bank supported the Pinwheel Palooza event benefiting A Child’s Voice Child Advocacy Center, which serves children facing abuse in Newton and Walton Counties.
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Newsmakers
Check out our member banks and bankers making news this week.
Atlanta - Capital City Bank
The bank was named to the Forbes 2025 World’s Best Banks list for the first time.
Jesup - PrimeSouth Bank
The bank was voted favorite bank in The Press-Sentinel’s 2025 Best of Wayne County Favorites Poll for the 20th year in a row.
Perry - SunMark Community Bank
The bank welcomed three new team members: Zach Giddens as executive vice president/senior lender, Shane Rogers as a commercial lender and Deia Horne as a personal banker. Read more.
Sandy Springs - Signature Bank of Georgia
Managing Director of Government Guaranteed Lending Maria Lawson recently attended a lender’s roundtable with SBA Administrator Kelly Loeffler and Associate Administrator Thomas Kimsey. Administrator Loeffler is meeting with lending partners across the USA. Pictured are (from left): Steve Reagin, Signature Bank of Georgia President & Chief Lending Officer, Thomas Kimsey, Kelly Loeffler and Maria Lawson.
Sardis - Southern Bank
M.J. Huggins III has been appointed as the bank’s new CEO. Read more.
Thomasville - TC Federal Bank
Matt Perkins has been promoted to compliance assistant and Janet Wilfred has been promoted to deposit operations/call center representative.
Auburn - Abram Armored
Joe Banas has joined the ATM service company as Chief Operations Officer.
Rome - McRae, Smith, Peek, Harman, & Monroe, LLP
Virginia Barrow Harman, a senior partner at the firm and a member of the GBA Bank Counsel Section, received a 2025 Award of Honor from the Georgia General Assembly and was honored with a resolution recognizing and commending her for her service to the communities of Rome and Floyd County.
Waycross – Waycross Bank & Trust
Former Georgia Supreme Court Chief Justice Michael P. Boggs has joined the bank’s Board of Directors.
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| Read All About It: Send Us Your News
Please remember to include the Georgia Bankers Association on the list of recipients for announcements about promotions, new employees and special recognition your bank has received. We want to share your news with your colleagues across the state. Please forward your announcements and photos to GBA's David Oliver and Katina Weiss.
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Recruit, Retain and Develop the Best Bankers with GBA Job BankHere's a reminder of a longstanding member benefit. GBA will post open positions, free of charge, for GBA members. See the open positions in Georgia here. We will also post professional summaries for bank-job seekers on our Bankers Available page. To make the process easy and answer any questions, we've developed this Q&A. Please contact Katina Weiss, 404.420.2021, with questions or needs.
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