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Daily MBA Bank Beat for May 14th

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MBA (Michigan Bankers Association) Highlights
for Monday May 14, 2020.

MBA Highlights

(Click on the articles to read more)

  • Read today’s meeting notes. View past MBA Bank Beats.
  • Join us for the May 15th Open Mic Roundtable. Register here.
    • Questions that will be asked:
      • How critical is it to re-evaluate how technology, insight, AI and data analytics can accelerate our future growth and competitiveness of FI’s locally, regionally and globally? (Look what Google, Amazon and other Fintech firms are doing to get into financial services)
      • From a leadership perspective, balancing the need to demonstrate compassion and the importance of safety for staff vs., demonstrating confidence and limiting the perception of fear for staff.
  • The MBA in partnership with the Michigan Chamber of Commerce is seeking information about businesses reopening in a short survey. Businesses are encouraged to participate. The statewide survey will give our organizations a better understanding of challenges on returning to business under a new normal, personal protection equipment (PPE), social distancing in your businesses and much more. Information will remain anonymous and will be summarized. The survey closes Wednesday, May 20. Take the survey: https://www.surveymonkey.com/r/Reopeningbusinesses
  • Thank you to everyone that participated in the one-question survey. View the results.
  • DIFS Creating Advisory Workgroups
    • Governor Whitmer announced the six phases of her MI Safe Start Plan to re-engage Michigan’s economy, and has worked with leaders in health care, business, labor, and education to develop the plan, and announce that Michigan is in phase three. DIFS is moving forward with the creation of advisory workgroups to engage industries and stakeholders across each of the executive departments. These groups will collaborate together and provide input on Michigan’s process to safely re-engage the economy. Workgroups will focus on mitigation of transmission risk in the workplace, including but not limited to best practices for workplace safety, PPE requirements, and retraining workers on newly implemented COVID-19 work requirements.If you’re interested in being involved in the first round of DIFS workgroups, please contact David Merchant at merchantD@michigan.gov by Friday, May 15th COB.

SBA Paycheck Protection Program

(Click on the articles to read more)

Economy

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  • Powell: More Fiscal Support May Be Needed to Address Economic Tail of Coronavirus. Read Powell’s Speech.
  • The Producer Price Index plunged 1.3% in April, following a decrease the month prior and marking the largest decrease recorded since the index began in December 2009. The index, which measures price changes on products and services before they reach consumers, showed producer prices were down 1.2% from the April 2019 level. Prices for final demand goods, excluding more volatile food, energy prices and trade services fell 0.9% in April. Read more.

Under the Dome

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  • HFA Forecast: GF Down $1.9B, SAF Down $927M In Current Fiscal Year. Read more.
  • The Senate Fiscal Agency in its latest forecast issued a bleaker revenue picture than its House counterparts for the current fiscal year, estimating a deficit in General Fund revenue of $1. 4 billion for the 2019-20 fiscal year and a $1.2 billion deficit in School Aid Fund revenue. Read more.
  • Whitmer, Plaintiffs Announce Settlement In ‘Right To Read’ Lawsuit

Regulators

(Click on the articles to read more)

Resources

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For more information on Endorsed Partners and Products, click here.

  • Promontory Interfinancial Network-Are Your Funds Placed Safely. Read More – Webinar on June 10-3PM EST. Register Here
  • View the Compliance Alliance Question of the Week

Professional Development/Online Learning

View Webinar Calendar. Search by topic.

 

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Contact

4100 Capital City Blvd.
P.O. Box 15279
Lansing, MI 48906

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