Problematic Credit Card Legislation Crops Up - Take Action to Oppose
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There's been action this week on two pieces of legislation related to credit cards that need active banker opposition.
Card Rate Caps: There's a proposed amendment to the Senate's stablecoin bill (the GENIUS Act) that would add language capping credit card interest rates at 10%. GBA joined other state associations and the ABA by strongly opposing the measure in a letter to Senate leadership Thursday. We need your help, too. Contact Congress to oppose this here.
Card Interchange Routing: Some in Congress are once again pushing the Credit Card Competition Act (CCCA), a proposal that would let the government dictate which networks banks must use to process credit card transactions. Bigger-picture, consequences of the legislation could lead to the elimination of popular credit card reward programs, increased costs for community banks and weakened consumer data protections. Lawmakers are trying to attach this as an amendment to the Senate stablecoin bill, as well. We joined other state bankers associations and ABA on a letter opposing this to Senate leadership Wednesday. To protect the benefits and security that consumers depend on, contact your members of Congress today and urge them to oppose the CCCA.
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House Narrowly Passes Sweeping Tax and Budget Bill
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In a razor-thin vote early Thursday morning, the U.S. House passed a sweeping tax and budget reconciliation package, advancing several key elements of President Donald Trump’s economic agenda. The bill was approved by a 215-214 margin and now heads to the Senate. The House-passed legislation includes a permanent expansion of the Section 199A small business deduction to 23%, an extension of numerous individual and business tax cuts originally enacted in the 2017 Tax Cuts and Jobs Act, and targeted support for agriculture, including provisions from the ACRE Act and significant investments in existing commodity support programs. Senate consideration of the package is expected to begin in June. Before a final vote, the Senate Parliamentarian will conduct a thorough review of the House bill to ensure compliance with reconciliation rules, which may result in the removal of certain provisions.
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FDIC Projects Deposit Insurance Fund Will Meet Restoration Deadline
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The FDIC Board of Directors has released its semiannual update on the Deposit Insurance Fund (DIF), projecting that the fund will meet the statutory minimum reserve ratio of 1.35% by the Sept. 30, 2028, deadline. The FDIC stated that the current plan remains on track, assuming no significant losses or changes in insured deposit trends. During our briefing with Acting Chairman Travis Hill in Washington, D.C., this month, he said the fund would have to be fully restored before any cost savings from their ongoing force reduction efforts could be considered for possibly lowering annual assessments. Full details here.
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Credit Committee Covers Trends, Welcomes New Members
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The GBA 2025 Credit Committee met earlier this week in Macon. Led by incoming Chair Ray Crook, The First Bank, and Vice Chair Brian Harris, Oconee State Bank, the group participated in a wide-ranging roundtable discussion about current credit trends and local economic conditions. In general, credit quality was characterized as stable, but with emerging areas of concern and caution such as consumer credit, agriculture and ag-related businesses, housing affordability and stress on the insurance industry related to the significant storms that hit Georgia in the past several years. Most members reported solid loan growth, fraud remains a challenge, as does attracting deposits and talent development. Newly appointed committee members Chris Howe, Planters First Bank; Devon Nurre, Signature Bank of Georgia; Kelly Smith, First National Bank of Griffin; and Jason Pruitt, United Bankers’ Bank, were welcomed at the session. The committee also reviewed past Credit Conference agendas and feedback from the 2024 program to begin shaping the 2025 Credit Conference, which will be Dec. 4-5 at the UGA Center for Continuing Education in Athens. With questions, contact Alison Moreau, 404.420.2034.
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Participate in the Georgia Banking Compensation Survey By May 23
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Now open for participation, this annual survey provides valuable insights to help banks enhance their compensation and HR strategies. Access detailed data on salaries, incentives, turnover, and more to stay competitive in today’s market. Bank data is due by May 23, and results will be released the week of Aug. 11. Pricing is $650 for participants and $1,495 for non-participants. Don’t miss this opportunity to make informed, strategic decisions for your bank. To participate, contact Rhonda Snyder at rhonda.snyder@pearlmeyer.com.
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GBA Retirement Services Meeting Held Last Week
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The GBA Retirement Services Board of Directors, chaired by Chuck Copeland, First National Bank of Griffin, held its quarterly meeting late last week. The board consists of nine bankers who oversee the employee retirement benefit program trusted by 40% of Georgia’s community banks. The board meets regularly with the discretionary trustee and investment manager of the Trust, American Trust Company, to review the investments we offer and ensure we offer a top-notch, high quality, low cost 401(k) option for plans of all sizes. We are happy to report that 68% of plan participants in the GBA Master Trust are on track to retire with enough savings to replace at least 70% of their current income. Nationally, only 25% of employees on track to retire successfully. In addition, 82% of the 3,700 participants in the Trust are using the UnifiedPlan Managed Account option in which American Trust builds their portfolio based on age, retirement readiness and other inputs (such as risk tolerance, outside assets, etc.). There is no additional fee for the Managed Account option. With assets now exceeding $325 million, being a part of the GBA Master Trust allows smaller plans, including plans of banks, associate members and bank clients, to gain buying power for an effective 401(k) solution for participants. If you would like more information or a proposal for 401(k) services, please contact Mandy Richards at 678.549.4167.
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Last Call! 50-Year Bankers, We Want to Celebrate You
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It’s a time-honored GBA tradition to recognize Georgia bankers who have been in banking for 50 years or more. We will formally honor those bankers at our Annual Meeting in June. If you are celebrating that momentous milestone or know a banker who has reached 50 years in the industry, please let us know! Celebrants do not have to attend to be honored. Complete this brief questionnaire by Friday, May 23. We’ll feature these honorees in our Annual Meeting wrap-up article, so watch for that.
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Sign up for New BankPAC Fundraiser - Pickleball
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GBA is partnering with Rhythm & Rally Sports & Events in Macon to host our first ever GBA BankPAC Pickleball Tournament Aug. 21. Proceeds will go to the GBA StatePAC*. Join us at the world's largest indoor pickleball facility for a fun afternoon of social, friendly competition, lunch and giveaways. Whether you're an experienced player or new to the game, come have fun with us and enjoy the fastest growing sport in the world.
Registration is $65 per player and includes tournament play, paddle, balls, t-shirt, water/snacks and lunch. The tournament will be doubles play (same-gender or mixed) in a round-robin format. Individuals may register and be paired up with another individual player.
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* The GBA StatePAC contributes only to candidates running for state-level offices such as the Georgia General Assembly, the Governor’s office and the Lieutenant Governor’s office. Contributions can be made from an individual, from bank funds if you are a state-chartered bank or from a national bank holding company if the contribution is made from funds other than those resulting from the operations of the national bank.
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Ops/Tech Peer Group Meeting Sept. 10 in Athens
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Registration is open for GBA's next Operations & Technology Peer Group Meeting, set for Sept. 10 at the University of Georgia Center for Continuing Education & Hotel in Athens. Led by Sam Drennen, EVP, Chief Operating Officer, First American Bank & Trust, this event will foster in-depth peer discussions on the critical challenges and opportunities facing bank operations and technology professionals today.
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| More Events and Training Opportunities Coming up
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WEBINARS – GREAT FOR FUNDAMENTALS TRAINING
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Commercial Lending Training, Treasury Management, AI. Microsoft Excel and More
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Here’s a sampling of upcoming webinars.
Want to see the full webinar schedule?
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PARTNERS, PRODUCTS & ASSOCIATE MEMBERS
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Mitigating Loss: Combating the True Cost of Fraud, June 25 at 2 p.m.
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Fraud continues to be top of mind for banks, with hard dollar losses growing at an all-time high. In this session, free to GBA members, Abrigo’s Terri Luttrell will discuss the true cost of fraud, new types of fraud affecting banks and the practical steps banks can take to mitigate the risks.
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EXCLUSIVE OFFER FOR GBA MEMBERS
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Limited-Time Paper Promotion – Just $34.99 per
10-Ream Carton
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Copy paper is a daily essential for every business, and GBA Strategic Partner ODP Business Solutions is here to keep you stocked and saving. For a limited time, GBA members can get up to 3 cartons of Boise X9® copy paper for just $34.99 per carton with their next order. Take advantage of this special offer and count on ODP Business Solutions as your trusted partner for office essentials. Access the Paper Promo Coupon Codes.
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Free Webinar: Building an Agile Change Management Program - May 29 at 2 p.m.
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Change is constant—whether it’s a new system, regulation, process, or vendor. But without a structured way to manage it, even small changes can lead to confusion, risk, and compliance gaps. Explore ways to build a change management program that’s both structured and agile, designed to keep your bank responsive, risk-aware, and in control.
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Alpharetta - Coastal States Bank
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Scott Hall has joined the bank as senior vice president and commercial banker for its Alpharetta and North Fulton markets. Read more.
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Atlanta - Georgia Banking Company
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The bank announced the launch of its Retail Mortgage origination channel. The expansion is set to provide comprehensive mortgage solutions to homebuyers and homeowners across metro Atlanta. Veteran mortgage banking professionals Doug Casbon and John Steele will lead the initiative.
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Julie Clarke has joined the bank as a senior vice president/commercial lender.
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Bainbridge - First Port City Bank
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Bank team member Boone Kennedy recently graduated from the Bainbridge-Decatur County Chamber of Commerce’s 2024–2025 Leadership Decatur County program. Read more.
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Brunswick - PrimeSouth Bank
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Michelle Jackson has joined the bank team as branch manager of its Hyde Park Brunswick branch.
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Greenville, SC - Southern First Bank
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Brandon Rich has joined the bank team as executive director of market support and senior vice president.
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Savannah - Great Oaks Bank
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Janise Ware has joined the bank team as a teller/customer service representative in its Savannah Southside office.
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Alpharetta - American Commerce Bank
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The bank is co-hosting a North Fulton Forum on “Realistic Housing Solutions” June 17 at the Greater North Fulton Chamber, highlighting housing access and CRA opportunities.
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The bank sponsored Big Brothers Big Sisters' Fashion Play at Mercedes-Benz Stadium, supporting mentorship programs.
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The bank sponsored An Evening of Honor, featuring Medal of Honor recipients in a leadership conversation on service, courage, and integrity.
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| Bainbridge - First National Bank
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The bank sponsored the Bainbridge Art and Wine Walk, supporting local artists and cultural connection in the community.
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| Bainbridge - First Port City Bank
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The bank donated $125,000 to Memorial Hospital & Manor through the Georgia HEART program.
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Cordele - Planters First Bank
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The bank sponsored the Housing session at the Robins Regional Small Business Outlook, hosted by Houston Healthcare.
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| Bank team members served lunch to volunteers with Sheds of Hope, which builds storage sheds for families recovering from natural disasters.
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| Milledgeville - Exchange Bank
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The bank hosted Georgia College & State University students for a panel on careers in banking as part of the college’s Leadership Tour.
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| Thomasville - TC Federal Bank
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Team members led financial literacy sessions during Goodwill Week at the Sallie Mood and Richmond Hill Opportunity Centers, covering budgeting and homeownership.
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Read All About It: Send Us Your News
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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's Job Bank
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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. Contact Katina Weiss, 404.420.2021, with questions or needs.
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