Tag Archive for: ABA

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Executive Letter: Check Fraud Resources

By Rose Oswald Poels

Check fraud remains a top issue and expense for WBA members. Often when needing to work through the process of collecting on a fraudulent check, it can be difficult to determine the correct party or department to work with at another financial institution involved in the particular check negotiation chain. I have heard of banks having to wait several weeks, or even months, to get a response from another when trying to resolve a fraudulent check matter. I have also heard from bankers of the frustration of not knowing what the other bank may need for research purposes or if a particular affidavit is required, such as an affidavit of forgery.

To help with this problem, the American Bankers Association (ABA) has created an online directory to assist banks in handling check fraud claims more efficiently. The directory lists contact information for banks that need to file a check warranty breach claim with another financial institution. It is searchable by bank name, city, state, or FDIC number, so banks can find the right contact at the institution to help resolve a warranty breach claim. The directory is available to ABA members and non-members.

To access the directory, banks will need to provide their detailed contact information and any documentation requirements for submitting a claim. As I understand the process, ABA will verify all submissions before uploading information to the directory. The process may take 5–10 business days, after which ABA will email the bank to let the bank know it has been added to the directory. I encourage banks to participate to maximize the utility of the resource.

To further assist banks with other resources, various affidavits have been created and/or shared by the WBA Financial Crimes Committee and may be found in the Security/Financial Crimes folder within the WBA Best Practices Library.

The WBA Best Practices Library is password protected; should you need the password, please contact WBA Legal at wbalegal@wisbank.com.

Information about the ABA Check Fraud Claim Directory may be found at: aba.com/banking-topics/risk-management/fraud/check-fraud.

If you have other suggestions or needs for resources to help your team mitigate check fraud, please let me know.

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Executive Letter: Take Action: Advancing the Association’s Advocacy Initiatives

Rose Oswald PoelsBy Rose Oswald Poels

This April, nearly 200 bankers from throughout Wisconsin gathered in Madison to address their elected officials on topics impacting our industry and communities. As part of the Wisconsin Bankers Association’s (WBA) efforts to advocate and assist members in positively impacting their local communities, the Association annually hosts Capitol Day to provide bankers with the opportunity to establish relationships and share experiences with their legislators. This year’s record attendance not only underscores the dedication WBA-member bankers have for their industry but highlights the desire bankers have to get involved.

During this legislative session, WBA will be working to guard against harmful credit union expansion and credit card swipe fees (interchange) as well as pass legislation that will help prevent elder financial exploitation, provide greater tax fairness, and support banking modernization, among many other key issues. In addition to familiar faces, we were happy to see many first-time attendees at the 2023 Capitol Day. Now is the time to keep the momentum going; attending Capitol Day is just one of the many ways bankers in Wisconsin can get engaged to support the banking industry and the Association’s advocacy initiatives.

Lead 

First and foremost, all banks should ensure that they have named an Advocacy Officer. As an Advocacy Officer, WBA members help coordinate regulatory, legislative, and community advocacy efforts in their bank, and beyond. This volunteer position serves as the point person between the WBA Advocacy Team and your bank. The Advocacy Officer shares key updates and opportunities to ensure your bank is up to speed on issues impacting your institution and your community.

In addition, your bank’s Advocacy Officer can help coordinate, in conjunction with WBA staff, Take Your Legislator to Work Days — an outreach program that provides lawmakers with the opportunity to learn more about the state’s banking industry by visiting a community bank. In addition, your bank’s Advocacy Officer can help coordinate or participate in trips to the State Capitol, Washington, D.C., and in-district offices to meet with state and federal elected officials and regulators.

Fundraise 

As we look ahead to the 2024 Election, engagement in all areas of the Association’s advocacy infrastructure is critical. Of course, active participation in events that help connect bankers with their elected officials is important. However, in order to proactively support the pro-banking legislators and candidates who stand behind our industry, fundraising continues to be one of the most significant components in our role as advocates.

While donations of any amount to Wisbankpac, Alliance for Bankers Conduit (ABW), and the Association’s issue advocacy fund greatly impact the work we do on the industry’s behalf, I encourage bankers to consider joining WBA’s Silver Triangle Club, Gold Triangle Club, Leadership Circle, and/or the Hall of Fame.

  • Silver Triangle: Minimum personal donation of $1,000 by an individual banker.
  • Leadership Circle: Minimum personal donation of $3,000 by an individual banker.
  • Hall of Fame: Minimum aggregate lifetime personal donations of $25,000 by an individual banker.
  • Gold Triangle: Aggregate personal donation, based on bank-asset size, from officers, directors, and employees.

These efforts to unify the voices of bankers in Wisconsin and shape our industry for the betterment of our communities are impossible to do alone. Annually, WBA also recognizes the individual banks that go above and beyond in their overall advocacy efforts with the BIGG (Bankers Involved with Grassroots and Government) Award.

With such an impressive turnout at this year’s Capitol Day, I look forward to seeing the energy and enthusiasm continue to take WBA’s advocacy efforts to new levels.

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Executive Letter: Ask Your Member of Congress to Stop CFPB’s Section 1071 Rule From Taking Effect

Rose Oswald PoelsBy Rose Oswald Poels

As I have previously reported, the Bureau of Consumer Financial Protection (CFPB) released its final rule, which will require nearly all of Wisconsin’s banks to collect and report data regarding their small business customers who seek credit.

CFPB’s Section 1071 rule will require banks who make at least 100 business loans in each of the two preceding calendar years to collect and report 21 data points for each credit requested by businesses that have $5 million or less in gross annual review.

Despite several Wisconsin bankers, and myself, speaking directly with Director Chopra regarding our grave concerns of the negative impact an overly broad rule will have — including concerns of data privacy for small business customers — CFPB finalized a rule, which largely disregarded our concerns.

I urge you to share this information among staff and ACT NOW to ask your member of Congress to support Joint Resolution H.J. 50 to express disapproval of CFPB’s final rule and ask that such a rule should have no force or effect. You may use the ABA or ICBA action tools below to make such request.

ABA’s Take Action Tool ICBA’s Take Action Tool
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Executive Letter: Opportunities to Advocate This Spring

Rose Oswald PoelsBy Rose Oswald Poels

With the transition into the new year, so too begins the 2023–24 legislative session. As the Wisconsin Bankers Association (WBA) looks ahead to further engaging with our elected officials and acting on several key priorities including credit unions, regulatory modernization, and elder fraud in 2023, WBA members are also encouraged to make the most of the various opportunities offered by the Association to make their voices heard.

This spring, bankers from across the state are invited to join the WBA Government Relations team in Madison for the 2023 WBA Capitol Day as well as two WBA Washington Trips to meet with our congressional delegation — one in conjunction with the American Bankers Association (ABA) Washington Summit and the other in conjunction with the Independent Community Bankers of America (ICBA) Capital Summit.

Our 2023 Capitol Day, which will be held on Thursday, May 11*, provides Wisconsin bankers with the invaluable opportunity to meet face-to-face with their representatives and demonstrate how public policy impacts a bank’s ability to aid in the economic growth and vitality of their community.

Annually, over 100 bankers and WBA Advocacy Officers are in attendance to receive updates from state Assembly and Senate leaders as well as assist the Association in conveying the role and value of our industry. Registration is open now, and more information will be provided for attendees as the event nears.

Additionally, the WBA will be in Washington, D.C. March 20–22 (bankers are encouraged to schedule late flights on the 22nd or stay until the 23rd given the House Republican schedule that week) for the WBA/ABA Washington Summit as well as May 14–17 for the WBA/ICBA Capital Summit. During these two trips, bankers can expect to hear from a variety of speakers as well as make trips to Capitol Hill to visit with those in our congressional delegation. Please note that during the WBA/ABA Washington Summit, Hill visits will likely occur both on March 21 and through mid-afternoon on Wednesday, March 22 given that the House Republicans will not be in office until Wednesday of that week.

All WBA members, regardless of their membership to either national trade group, are welcome and invited to join WBA’s Washington Trip on either date. Please let WBA know if you are interested in attending one of these two key summits at your earliest convenience. You may register now for the WBA/ABA Washington Summit.

Grassroots advocacy is a fundamental aspect of WBA’s efforts in supporting the industry, and your involvement is critical to the success of our advocacy priorities. Although very few legislators have experience in banking, bankers are looked upon as trusted members of the communities our elected officials represent and are essential in reinforcing the impact legislative proposals will have on your community, bank, and industry.

Thank you for your continued grassroots involvement for the betterment of the banking industry, and I hope to see you and/or other members of your team this spring either at the State Capitol in Madison or on the Hill in D.C.

*WBA’s 2023 Capitol Day is now scheduled for April 26.

2023 WBA Capitol Day WBA/ABA Washington Summit WBA/ICBA Capital Summit (Opening Soon!)
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Spring 2023 Washington, D.C. Summits

Each spring, the Wisconsin Bankers Association (WBA) travels to Washington, D.C. alongside both the American Bankers Association (ABA) and Independent Community Bankers of America (ICBA) to visit with those in our congressional delegation.

WBA members, regardless if their bank is a member of one of the national trade groups, are encouraged to join us and make their voice heard on the Hill during one of these two advocacy trips!

The first trip, the WBA/ABA Washington Summit, is scheduled for March 20–22, 2023*. A virtual option is also available. For more information and to register, please visit aba.com/summit.

The second trip, the WBA/ICBA Capital Summit, will take place May 14–17, 2023. More information and registration for the event will become available in early 2023. Please visit icba.org/capitalsummit to learn more.

The WBA spring summits prove themselves vital each year in providing bankers throughout Wisconsin with insights into policymaking and allow bankers to advocate on behalf of their industry. If you have any questions, please contact WBA.

*Hill visits will likely occur both on March 21 and mid-afternoon on Wednesday, March 22 since the House Republicans will not be in office until Wednesday that week. Attendees should schedule flights to leave later on March 22 or stay until March 23.

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