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Executive Letter: Advocacy in Action

From the Desk of Rose Oswald PoelsBy Rose Oswald Poels

WBA staff and 22 Wisconsin bankers joined more than 1,400 bankers from around the country last week for Congressional Hill visits on banking industry matters as part of ABA’s Washington Summit. WBA Board Chair Al Araque and I are very excited by the increased number of Wisconsin bankers who joined us on this trip, as well as those who already signed up for WBA’s second Washington Trip next month in conjunction with ICBA’s Capital Summit. We are grateful that you have responded to our requests to increase your personal involvement in these critical advocacy initiatives, and we are very pleased with the many bankers who joined us for the first time.

The timing of our Hill visits last Tuesday was fortuitous, as the House was taking a floor vote the next day on a key issue we supported: H.J. Res. 59, a congressional resolution of disapproval that would nullify the CFPB’s overdraft rule. The passage of this resolution means that CFPB is never able to introduce a similar rule again. While the vote in the House ultimately was along party lines, we were able to highlight in meetings with every Wisconsin congressional office the benefits consumers received from overdraft programs, along with the consequences of capping such fees.

Tax policy is top of mind in Washington, D.C., which gave us the opportunity to discuss with some of our delegation the importance of continuing the tax provisions that will expire at the end of 2025 — notably, the Section 199A pass-through deduction. We also focused on the ACRE Act, which would help deliver savings to farmers and ranchers across the country by providing a tax break to banks when making certain ag loans secured by farm real estate and aquaculture facilities, and for certain home mortgage loans. Currently, Reps. Steil, Fitzgerald, and Van Orden are co-sponsors of the ACRE Act, and we asked the other representatives to become co-sponsors as well. Other topics we advocated for included legislation that would repeal or narrow the scope of Section 1071, stablecoin legislation, and trigger leads legislation.

The Wisconsin bankers who joined Daryll Lund and me on this trip found it to be very educational and productive. Without question, WBA is more impactful when constituent bankers help deliver messages to elected officials. I encourage all of you to consider joining WBA next month for our second Washington Trip, May 12–15, 2025; later in the year when we meet with regulators (not legislators), October 16–17, 2025; or make plans now to join us next spring.

Thank you to the bankers who attended the WBA/ABA Washington Summit!
•  Al Araque, Johnson Financial Group, Racine
•  Tom Bloomer, State Bank of Chilton
•  Glen Calnin, State Bank of Chilton
•  Bill Dyson, Ladysmith Federal Savings & Loan Association
•  Morgan Farmer, Park Bank, Holmen
•  Dave Feldhaus, Federal Home Loan Bank of Chicago
•  Kristen Gagliano, North Shore Bank, Brookfield
•  Laura Hoerth, State Bank of Chilton
•  Damian Hoerth, State Bank of Chilton
•  Paul Hoffmann, Lake Ridge Bank, Middleton
•  Shay Horton, Cumberland Federal Bank, FSB
•  Corey Hoze, Associated Bank, Milwaukee
•  James Meisser, Lake Shore III Corporation, Glenwood City
•  Jeanene Meisser, Lake Shore III Corporation, Glenwood City
•  Morgan Mielke, Premier Community Bank, Green Bay
•  Tisha O’Dell, North Shore Bank, Appleton
•  Greg Ogren, Security Bank Shares, Iron River
•  Christine Ogren, Security Bank Shares, Iron River
•  Mark Oldenberg, Security Financial Bank, Eau Claire
•  Tom Pamperin, Premier Community Bank, Marion
•  Robert Traylor, Horicon Bank
•  Theresa Wiese, First Business Bank, Madison
•  Sarah Ziemba, American National Bank Fox Cities

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Coggins Receives Bruning Award

2024 Bruning Award winner Dave Coggins

During the American Bankers Association National Agricultural Bankers Conference held in Milwaukee November 12–15, retired Wisconsin banker Dave Coggins was recognized as the 2024 recipient of the prestigious Bruning Award. This annual award recognizes bankers who demonstrate outstanding leadership and dedicated service to providing credit and guidance to farmers, ranchers, and their fellow agricultural bankers. Bank Five Nine President/CEO Timothy Schneider introduced Coggins to the conference audience and presented him with the award. Schneider worked with Coggins directly for 12 years and reflected on the outstanding service Coggins provided to all customers and outlined the reliable and trustworthy character that all who know Coggins can attest to.

In his acceptance remarks, Coggins shared stories of his 47 years in ag finance, most recently having served as the executive vice president and chief banking officer with Investors Community Bank (ICB). ICB merged into Nicolet National Bank in December 2022, and Coggins continued to work at the bank through the transition until his retirement in June 2023. His career in ag finance started after graduating from UW-River Falls and taking a chance on a job in banking to start what he referred to as his adult life. Coggins grew up on a dairy farm near Ladysmith, where he learned early how hard and rewarding the world of agriculture can be. He shared stories of picking rocks out in the fields … one of the reasons he was looking for a career away from the family farm, but never straying far from the world in agriculture.

During his banking career, Coggins served on WBA’s Agricultural Bankers Section Board for six years, including service as the Chair in 2015–16. Coggins also served on the WBA Government Relations Committee during that time and through 2023 when he retired. He also joined the ABA Agricultural and Rural Bankers Committee for five years and chaired that committee in 2022.

Coggins now spends his time in retirement enjoying family life with his wife of 47 years, Laura, and their three grown children and their spouses who were all in attendance for the award presentation. Coggin’s new chapter is filled with family as he spends time with his 13 grandchildren. He is also volunteering in communities around Wisconsin to teach financial literacy to local farmers.

About the Bruning Award

Since 1997, the Bruning Award, named after its first recipient, Nebraska banker Frank Bruning, recognizes bankers who demonstrate outstanding leadership and dedicated service to providing credit and guidance to farmers, ranchers, and their fellow agricultural bankers. Two Wisconsin bankers have been awarded with the prestigious Bruning Award in past years, including Sam Miller and Richard (Dick) Pamperin.

For more information about the Bruning Award, please visit ABA’s website.

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Damaske Completes ABA Certificate in Fraud Prevention

Elizabeth Damaske

Congratulations to Elizabeth Damaske, BSA Coordinator at Citizens Bank in Big Bend, for receiving the ABA Certificate in Fraud Prevention in September. This ABA certificate program includes 5 online, self-paced courses that provide bankers with in-depth training on the applicable U.S. laws and regulations governing fraud, and an overview of the types of criminal behavior commonly used against banks. Congratulations Elizabeth!

Several online certificate programs are available through WBA, your local ABA online training partner! All WBA members receive member pricing when registering through WBA. Find the full list of certificate programs online. 

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Szolwinski Completes ABA Certificate in Lending Compliance

Lori Szolwinski

Congratulations to Lori Szolwinski, Compliance Coordinator at Citizens Bank in Big Bend, for receiving the ABA Certificate in Lending Compliance in August. The ABA certificate program included 17 online, self-paced courses designed to help bankers demonstrate to bank management and examiners that they have a thorough grounding in key lending regulations, and the ability to identify and respond to compliance requirements.

Several online certificate programs are available through WBA, your local ABA online training partner! All WBA members receive member pricing when registering through WBA. Find the full list of certificate programs online.

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Corn sprouting in field
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From the Fields: Recap From the 2023 ABA Agricultural Bankers Conference

By Chris Schneider

This November, about a dozen ag bankers from Wisconsin and I made the trek to Oklahoma City for the 71st annual American Bankers Association (ABA) Agricultural Bankers Conference. This year, the number one message was getting the ACRE Act through Congress to help the American farmer. This act, which would create a tax exemption on ag loans and rural home mortgages, will aid in saving approximately $1.15 billion in ag loan interest and will reach 17,000 local communities across the country.

In attendance at this year’s event was Congressman Glenn “GT” Thompson (R–PA), who chairs the House Committee on Agriculture. During his opening session, GT offered updates on agricultural policies including the Farm Bill and shared what bankers need to know going into 2024. My impression of him was that he is committed to helping the American farmer and local communities.

Interest rate discussion was no surprise due to the past 12 months of increases. While many were questioning whether we will see it rise more, stay stable, or flatten out some, we will have to see if — as usual — the election year brings with it some softening of rates. I’m not sure if we will see the low rates of past years again in future.

Representatives from the ABA and Farmer Mac shared with attendees the results of the 2023 ABA/Farmer Mac Agricultural Bankers Survey. A few of the top and notable themes from this past year have been interest rate volatility, lender competition, credit quality, increased regulator burden, and weak loan demand.

In just the first day of the conference, attendees gained insight into food spending trends (a shocking 51% is spent on food outside of the house), student loan debt, legal cannabis, and more. Throughout the rest of the event, topics including new technologies and artificial intelligence (AI) and ESG trends and the sustainability especially the ag community. To me, the greatest take away from this year’s event was that in order to have successful farmers, ag bankers should be prepared to aid them in strengthening their ag IQ. By understanding the cost of production, strengthening their balance sheet, developing a marketing plan, and utilizing technology to set next level, we can help our clients do all the little things even better.

Schneider is vice president – senior ag banking officer at Nicolet National Bank in Manitowoc. Schneider also serves as Past Chair of the 2023–2024 WBA Agricultural Bankers Section Board of Directors.

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Person writing check
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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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