As part of its 125th Anniversary celebration, WBA is digging deep into its archives to share a variety of historic gems. In this particular case, we’ve created a timeline of significant events related to Wisconsin’s banking industry that occurred between 1971 and 1980.
U.S. Representative Henry Reuss revives the call for the Federal Reserve to establish a branch bank in Milwaukee.
Wisconsin bankers and the association work together to make the Wisconsin Consumer Act workable (rather than seeking an industry exemption or the law's repeal, as other industries did). The law is enacted in 1973.
Brown Deer Bank forms Wisconsin's 51st bank holding company. Four new banks are organized.
Bank robberies nationwide peak at 50 per week, a higher average rate than during the 1930s; the FBI blames the economy. Real estate bankruptcies stress some Wisconsin banks; bank holding company stocks take a temporary plunge.
Bank of Osceola President Lee Gunderson completes his term as WBA President. He will go on to become President of the American Bankers Association (1981) and continue his career at Arthur Young in New York.
TYME (Take Your Money Anywhere) machines make their debut in Wisconsin. First Wisconsin becomes the State of Wisconsin's official bank.
In August, the association debuts the third in a series of Satellite Forms Manuals: Commercial Lending Transaction Satellite Manual. WBA produced six satellite manuals to collect all forms, procedures, instructions, checklists and other materials into a topic-specific resource for member bankers. Each satellite guide also included audio tapes to be used for training.
Foreign governments begin reneging on debts to U.S. banks. First Wisconsin sues Iran's new government and four of its banks for refusing to pay money loaned to the country's former Shah.
President Jimmy Carter signs the Depository Institutions Deregulation and Monetary Control Act on March 31, beginning a period of deregulation and eventual crisis for the nation's S&Ls.
Historical events compiled from "Good as Gold - A History of Banking in Wisconsin," Copyright © 1992 by Wisconsin Bankers Association.