Last Wednesday, WBA led a lively discussion between several of its member bankers and representatives from FDIC. Topics ranged from factors impacting merger and acquisition activity, to regulatory burden to CECL. FDIC also discussed some of the top issues they have identified as areas of focus. Those include cybersecurity; liquidity; concentrations; due diligence in vendor relationships; fair lending internal monitoring; and consistency between disclosures and actual practices.
Bankers attending were Fred Siemers, River Cities Bank, Wisconsin Rapids; Dave Werner, Park Bank, Milwaukee; Bill McDonald, Greenwoods State Bank, Lake Mills; and Charlie Schmalz, East Wisconsin Savings Bank, Kaukauna. Representing FDIC were Teresa Sabanty, Deputy Regional Director-Compliance and Chris Newbury, Deputy Regional Director-Division of Risk Management Supervision. Also in attendance were WBA’s Rose Oswald Poels, Daryll Lund and Kris Cleven.