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13th Annual Bankers Cup Tournament Shaping Up Nicely!
It's Not too Late to get YOUR Team Registered!
 The VACB ~ Williams Mullen 13th Annual Bankers Cup Tournament is a month away, but it's not to late to get your team registered! Make plans to join us on Wednesday, May 29th at Spring Creek Golf Club for a day of fun and fellowship! To access the inivitation and register, click HERE
Our activities wouldn't be possible without the help of our Associate Members. Included in our thanks are Williams Mullen, Federal Home Loan Bank of Atlanta, Vining Sparks, an endorsed provider of ICBA, Sentry Management, Re$ubmitIt! and BFS Group. Please thank them for their continued support of the Association! Thanks to our sponsors we have multiple contests and chances for great prizes, so get those teams together and bring you best game to Spring Creek!
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Brown-Vitter's TBTF Act Legislation
Why it Matters to Community Banks
 ICBA-supported legislation that would help eliminate the threats posed by too-big-to-fail financial institutions is making headlines in major media outlets. The Terminating Bailouts for Taxpayer Fairness Act of 2013 (TBTF Act, S. 798), sponsored by Sens. Sherrod Brown (D-Ohio) and David Vitter (R-La.), seeks to end federal subsidies for financial firms larger than $500 billion in assets and to implement regulatory relief for community banks.
A full rundown of media coverage on the Brown-Vitter bill and other news on the too-big-to-fail problem is available on ICBA's "End Too-Big-To-Fail" website. The site includes a variety of other resources on the too-big-to-fail issue from ICBA, policymakers and others
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VACB is Heading to Washington
ICBA Policy Meetings April 23-25
VACB President & CEO Steve Yeakel and a delegation of Virginia's community bankers are headed north, to join ICBA bankers from across the nation for the 2013 Washington Policy Summit. Joining Steve will be a delegation of bankers representing a great cross section of Virginia's geography. In addition to calling on Virginia's elected officials and federal financial regulators to support regulatory relief provisions in ICBA's Plan for Prosperity and policies addressing the problem of too-big-to-fail financial institutions, participants will network with other bankers from across the country and hear updates on ICBA's activities and initiatives. ICBA has arranged for Senate Banking Committee member David Vitter (R-La.), House Financial Services Committee Chairman Jeb Hensarling (R-Texas) and Senate Banking Subcommittee on Financial Institutions Chairman Sherrod Brown (D-Ohio) to address the gathering. Basel III capital guidelines and eliminating subsidies for too-big-to-fail financial institutions are two of the issues that will be addressed by these invited elected officials. Look for updates and after-action reports!
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"I Luv My Community Bank" Campaign Launched
Let Your Customers Show Their Luv!
 ICBA and the Virginia Association of Community Banks officially kick off its third annual highly successful "I Luv My Community Bank" campaign. The grassroots-style social media campaign offers consumers and small businesses the ability to evangelize their experiences with their own community bank. The campaign's one-of-a-kind interactive website will act as a forum for consumers and small businesses to post comments, upload photos, and deliver video testimonials about their community banking experiences. This year, a Facebook app component will also be collecting testimonials as well as hosting a voting function for the public to determine the top five winners for 2013 click here for contest rules. The program is a great complement to celebrate Community Banking Month in April and the nationally recognized Go Local Initiative. Contributors' material will be shared around the world via social media as we highlight the importance of community banks in our country!
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Community Banks Win with Qualified Mortgage Rulemaking
ICBA's Efforts with CFPB Works for Community Banks
 The Consumer Financial Protection Bureau released its final rule on consumers' ability to repay mortgage loans with ICBA-advocated accommodations for community banks. The CFPB's final qualified mortgage (QM) rule, which takes effect Jan. 10, 2014, implements laws requiring mortgage lenders to determine a consumers' ability to repay home loans before extending them credit.
Included in the rule is a definition of a "qualified mortgage" loan, which is entitled to a presumption that the creditor making the loan satisfied the ability-to-repay requirements. Qualified mortgages must satisfy certain product features (e.g., no negative amortization, no interest-only or "no doc" loans, points and fees limits) and meet certain underwriting criteria (e.g., debt-to-income ratio generally no higher than 43 percent, or meets Fannie/Freddie underwriting guidelines).
Read Full Story
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Communities First Act Offers REAL Solutions
Act Provides Meaningful Regulatory Relief for Community Banks
The Communities First Act of 2011 (H.R. 1697) provides meaningful regulatory and tax relief for community banks. Drafted by the ICBA, the CFA contains an overabundance of beneficial changes including allowing highly-rated community banks to file a short-form call report in two nonsequential quarters each year, and authorizing community banks to amortize CRE loan losses and OREO over 10 years for regulatory capital purposes. VACB also strongly supports this prudent measure.
Call it a down payment on doable measures for Congress to bolster community banks and Main Street America. Consider it a reflection of ICBA's leadership in advocating real solutions on Capitol Hill and remaining a constructive and influential participant in the policymaking process in Washington. READ MORE of this article.
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CONVENTION IS COMING!!
Make Your Reservation NOW!!
The VACB 26th Annual Convention room block is now open and available to make reservations. You may book rooms by calling the Gaylord's Reservations Team at 877-491-0468 and mentioning the VACB Convention & Trade Show. You may also make reservations online at www.resweb.passkey.com/go/VACB2013. Room rates are $229 for Single or Double Occupancy.
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