Advocacy on Regulatory Modernization

In addition to the Wisconsin Bankers Association’s advocacy in opposition to Assembly Bill 478, WBA Director – Government Relations John Cronin and Capitol Bank SVP/Retail Banking and Chief Compliance Officer Gary Kuter testified in favor of Assembly Bill 596 at Wednesday’s hearing held by the Assembly Committee on Financial Institutions. AB 596 is designed to update several statutes relating to banking practices. WBA is very appreciative of the efforts of Rep. Terry Katsma and Sen. Howard Marklein for bringing this legislation forward.

In many ways, banks are the cornerstones of Wisconsin’s communities, having long provided services to individuals and business customers. Bankers relish the opportunity to build and maintain relationships and offer products that help propel Wisconsin’s diverse and vibrant economy.

Banks are also subject to many rules and regulations and are regularly examined for safety and soundness. Therefore, regulatory compliance, operations, and security are key areas of emphasis for financial institutions both large and small.

AB 596 will help us realize efficiencies in all three of these areas without jeopardizing safety and soundness. The common-sense pieces of regulatory relief in this legislation will allow our members to spend more time focusing on what’s most important: serving their customers.