1 October 2024
/ Stuart A. Best
CBM Annual Convention and Expo: Takeaways From Shareholder Stuart Best
Shareholder Stuart Best recently attended the Community Bankers Association of Michigan (CBM) Annual Convention and Expo in Traverse City, MI. Now, he’s sharing his top takeaways!
This was the 50th Anniversary for the CBM. This year also marked the 35th year of the Annual Trap Shooting Event which Weltman hosts for attendees at the conference. This year, we also welcomed our new co-sponsor, Geritt Guillaume, from American Security and Privacy. The weather was spectacular for the convention and, most importantly, the trap shoot (sunny and 87 degrees). The attendees at the shoot were treated to a full day of trap and sporting clays at Nyes Trap Range in Kingsley. Some amazing snacks and treats were supplied by Marie Braeutigam from Discover.
The convention, as always, provided the attendees with updates on the current events in banking, legislation, risk management, and updates from the Independent Community Bankers of America (ICBA).
Many discussions were centered around the lack of traditional loan growth, which is assumed to be caused by higher interest rates. An area of large growth, however, has been HELOCs and/ or Second Mortgages. The concern here is how these will be addressed in the event of an economic downturn.
The second major topic of discussion is the pending Senate Bill 408, which will limit banks’ ability to perform collections. The CBM PAC has taken a strong position against the bill and provided support to the legislators who are behind it in working to eliminate or amend it. We thank the CBM for its leadership in community banking!
Our team is constantly monitoring updates in our ever-changing industry. If you have any questions about Weltman’s consumer collections, probate recovery, and/or real estate default solutions, feel free to connect with Stuart at any time.
This blog is not a solicitation for business, and it is not intended to constitute legal advice on specific matters, create an attorney-client relationship or be legally binding in any way.
This was the 50th Anniversary for the CBM. This year also marked the 35th year of the Annual Trap Shooting Event which Weltman hosts for attendees at the conference. This year, we also welcomed our new co-sponsor, Geritt Guillaume, from American Security and Privacy. The weather was spectacular for the convention and, most importantly, the trap shoot (sunny and 87 degrees). The attendees at the shoot were treated to a full day of trap and sporting clays at Nyes Trap Range in Kingsley. Some amazing snacks and treats were supplied by Marie Braeutigam from Discover.
The convention, as always, provided the attendees with updates on the current events in banking, legislation, risk management, and updates from the Independent Community Bankers of America (ICBA).
Many discussions were centered around the lack of traditional loan growth, which is assumed to be caused by higher interest rates. An area of large growth, however, has been HELOCs and/ or Second Mortgages. The concern here is how these will be addressed in the event of an economic downturn.
The second major topic of discussion is the pending Senate Bill 408, which will limit banks’ ability to perform collections. The CBM PAC has taken a strong position against the bill and provided support to the legislators who are behind it in working to eliminate or amend it. We thank the CBM for its leadership in community banking!
Our team is constantly monitoring updates in our ever-changing industry. If you have any questions about Weltman’s consumer collections, probate recovery, and/or real estate default solutions, feel free to connect with Stuart at any time.
This blog is not a solicitation for business, and it is not intended to constitute legal advice on specific matters, create an attorney-client relationship or be legally binding in any way.
