WBA Meets with FDIC   WBA Meets with FinCEN
WBA and Wisconsin bankers met with FDIC Director Martin Gruenberg regarding cannabis banking, national rate caps, CECL, and consolidation of the banking industry among other topics.    SARs and CTRs (raising thresholds) were two of the topics brought up during the FinCEN meeting. 

Recently, WBA’s Rose Oswald Poels led a delegation of 11 Wisconsin bankers to meet with the senior staff at FHFA, FinCEN, FDIC, and CFPB in Washington D.C. The meetings informed and educated the senior staff of these agencies about the dynamics of Wisconsin’s banks and the local economy and how new regulations are impacting community banks. All the regulators said more than once how much they appreciated hearing directly from the bankers the impact the rules have on their banks’ ability to serve customers. 

Topics tackled during these meetings included BSA/AML (CTR, Beneficial Ownership, etc.), QM/ATR, Brokered deposits, Cannabis banking, CECL, CRA, GSE Reform, the importance of FHLBC, knox box security concerns, and HMDA. 

FinCEN staff made a point of sharing that all SARs are reviewed either by a human or AI within 24-48 hours of receipt, and they view SARs as incredibly valuable to law enforcement’s ability to catch criminals.

A big “Thank You” goes out to the bankers who accompanied Oswald Poels on the trip: 

  • Heidi Conde, Community State Bank, Union Grove 
  • Dave Feldhaus, Federal Home Loan Bank–Chicago 
  • Corey Hoze, Associated Bank, Milwaukee 
  • Gary Kuter, Capitol Bank, Madison 
  • David McCoy, First National Bank & Trust Co., Beloit 
  • Dan Peterson, Stephenson National Bank & Trust, Marinette 
  • Tom Reil, Waldo State Bank 
  • Dan Shepard, Waukesha State Bank 
  • Glen Stiteley, Investors Community Bank, Manitowoc 
  • Scot Thompson, Denmark State Bank 
  • Mark Wierman, Ixonia Bank