The FRB has published lists of institutions that will be subject to, and exempt from, the debit card interchange fee standards in Regulation II. The statute exempts any debit card issuer that, together with its affiliates, has assets of less than $10 billion. The lists have been generated from the set of institutions in existence on Dec. 31, 2010, according to available data. The lists, available in Excel .XLS and .CSV format or as .PDF documents, will be updated annually.

In May, the Consumer Financial Protection Bureau (CFPB) asked for comments on its prototype versions of a single, simpler mortgage disclosure form. The financial community responded with more than 13,000 comments. 
 
CFPB since incorporated much of that feedback, along with what it learned in one-on-one interviews with consumers, lenders, and brokers. Now CFPB has asked for banker input once again on the new versions of the forms.

Weigh in now at www.consumerfinance.gov/knowbeforeyouowe.

Visit CFPB's main site: http://www.consumerfinance.gov/.

Any feedback regarding these prototypes can be sent to the WBA Legal Department at wbalegal@wisbank.com.

In direct response to bankers’ questions during the roundtable sessions held by DFI over the last several months with the industry, and as a result of the subsequent advocacy efforts by WBA and CBW, DFI reissued Banking Letter 40 related to loans on nonaccrual. The revised Banking Letter 40 is effective as of May 10, 2012, the date of its issuance. DFI made significant helpful changes for state-chartered banks in this revised letter most notably in the provisions related to allowing for the return of loans to accrual status. WBA and CBW appreciate DFI’s prompt action in response to bankers’ concerns. Bankers should carefully review the revised letter to understand its full impact on your specific institutions. Copies of the DFI letter were mailed by DFI to each state-chartered bank and can also be found here.

As part of an ongoing effort to assist members with compliance efforts, WBA is adding a variety of compliance toolkits to its collection.

The latest is the WBA Executive & Incentive Compensation Toollkit. Available free of charge, the 29 page toolkit, created by the Boardman Law Firm, is designed as a starting point to assist the board of directors in establishing sound incentive compensation policies, procedures and practices in compliance with the federal guidelines.

Download any the kits below by clicking here.

WBA Executive & Incentive Compensation Toolkit

WBA FDIC Insurance Changes for Noninterest-bearing Transaction Accounts Toolkit

WBA SAFE Act Toolkit

WBA Dodd-Frank Toolkit

What good is flood zone data if you don’t know what to do with it? FEMA says that 119 banks have been assessed $1.3 million in penalties for various violations of the Flood Insurance Reform Act. BancInsure provides more than just flood zone determination data. Its total flood insurance compliance solution addresses your compliance, safety & soundness and customer relations needs, and it won’t cost you anything.

For more information about BancInsure's Total Flood Compliance Solution, click here.

The WBA Compliance Journal is intended to provide accurate information in regard to the subject matter covered as of the date of publication; however, the information does not constitute legal advice. Click to read a preview of the latest issue of the WBA Compliance Journal.

The information provided in these articles is not intended to provide legal advice; rather, it is intended to provide general information about banking issues. Consult your institution’s attorney for special legal advice or assistance. Read Legal Q&A articles.

Model Pandemic Influenza Plan available
(Updated June 2009 with information on the H1N1 flu virus, and more)
Given the need for financial institutions to create a plan, WBA has prepared a model pandemic influenza plan for WBA members. The model is designed to be used on its own or as part of an institution's broader disaster recovery plan. Since the plan is intended as a model only, it must be customized by each financial institution to their specific situation prior to its implementation and use. Download the model here.

WBA forms offered by FIPCO have been accepted as standard by bank regulatory agencies, attorneys and the Wisconsin judiciary. In conjunction with legal counsel, these forms are developed and reviewed and constantly updated by the WBA Drafting Team, helping to ensure compliance with State and Federal regulations.

Electronic Forms
Electronic files of commonly used WBA forms are available in various formats. These WBA form images are available using Microsoft® Word, Adobe Reader or other third party software systems. The images, or eForms, can be electronically filled out and printed.

WBA Hard Copy Forms
Over 430 forms relating to consumer, real estate, commercial, agricultural and municipal loans; deposit accounts; safe deposit boxes; and deposit and operations are available. Forms are purchased by financial institutions, dealerships, attorneys and realtors.

More information is available here. For more information contact FIPCO Sales.