Tag Archive for: Compliance Journal

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July 2023 Compliance Journal

The July 2023 WBA Compliance Journal is now available. In this edition, WBA Legal provides a recap of business-related provisions from the 2023–2025 Wisconsin Budget, also known as 2023 Wisconsin Act 19. The edition also includes a summary of the recently updated Policy Statement on Prudent CRE Loan Accommodations and Workouts released by supervisory agencies earlier this month, and a WBA Legal created FAQ regarding the state tax-exemption for income earned from certain business and ag purposes loans. The monthly publication also provides summaries of recently issued agency rules, guidance, and notices. Be sure to read the “compliance notes” section for other important compliance-related updates for bankers, including about the availability of ABA’s new online directory of bank contact information for the filing of a check warranty breach claim. The directory is available to ABA members and non-members.

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June 2023 Compliance Journal

The June 2023 WBA Compliance Journal is now available. In this edition, readers will find an article written by the Wisconsin State Bar and Office of Lawyer Regulation regarding 2023 amendments to lawyer trust account rules, effective July 1, 2023. The monthly publication also provides summaries of recently issued agency rules, guidance, and various notices. Be sure to read the “compliance notes” section for other compliance-related updates for bankers.
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May 2023 Compliance Journal

The May 2023 WBA Compliance Journal is now available. In this edition, readers will find an article covering recently issued guidance by FDIC, CFPB, and OCC, each of which identify activities expected to be a focus of upcoming compliance examinations. Readers will also find an article highlighting an interagency statement and an interim final rule regarding the transition from US LIBOR. The publication also includes a summary of recently published agency rules and notices, other important compliance-related updates, and a WBA Education Calendar which lists upcoming training events.

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April 2023 Compliance Journal

The April 2023 WBA Compliance Journal is now available. In this edition, readers will find an article summarizing key components of the final Section 1071 rule. Readers will also find summaries of recently published agency rules and notices, and other important compliance-related updates for bankers.
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March 2023 Compliance Journal

As spring arrives, so does the March 2023 WBA Compliance Journal. In this edition, WBA Legal covers upcoming changes to FDIC’s deposit insurance rules, FinCEN’s alert on the nationwide surge in mail theft-related check fraud schemes, and a Wisconsin Supreme Court decision which upheld Wisconsin’s long-established rules for priority under receivership rules. The publication also includes a summary of recently published agency rules and notices and other important compliance-related updates for bankers, including links to FRB’s Bank Term Funding Program resources and changes made to FDIC’s Section 19 rules as a result of the Fair Hiring in Banking Act.

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February 2023 Compliance Journal

The February 2023 WBA Compliance Journal is now available. In this edition, readers will find an article asking, “What is a ‘covered application’ under Section 1071?” in anticipation of a final rule slated to be released in March, according to CFPB’s regulatory agenda. Also, agency guidance regarding supervisory expectations for HMDA reporting by those affected by the lower reporting threshold for closed-end mortgage loans, summaries of recently published agency rules and notices, and other important compliance-related updates for bankers.
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January 2023 Compliance Journal

The first edition of the New Year is now available. In the January 2023 WBA Compliance Journal, WBA Legal covers FDIC’s recently revised guidelines for appeals of material supervisory determinations. WBA Legal has also pulled together state and federal regulatory thresholds and limits for 2023 and provides a recap of the recently issued regulator statement regarding crypto-asset-related risks. The publication also includes a summary of recently published agency rules and notices and other important compliance-related updates for bankers.
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December 2022 Compliance Journal

The December 2022 WBA Compliance Journal is now available. In this edition, WBA Legal summarizes recent revisions to Wisconsin’s uniform limited partnership and LLC rules, effective January 1, 2023. Also included is a reminder of the lower closed-end mortgage loan reporting threshold under HMDA, Regulation C due to a recent court decision. The publication also includes a summary of recently published agency rules and notices and other important compliance-related updates for bankers, including the Wisconsin Department of Financial Institution’s 2023 required escrow account interest rate. Also, this month — insights from Linda Blom, vice president – chief risk officer, BLC Community Bank, who is retiring this month having been in banking since 1978! Congrats, Linda!
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November 2022 Compliance Journal

The November 2022 WBA Compliance Journal is now available. In this edition, WBA Legal summarizes FinCEN’s final beneficial ownership information reporting rule and provides a highlight of recently released CFPB guidance documents. The “Regulatory Spotlight” section provides a summary of rules, proposals, and notices issued by federal agencies, and the “Compliance Notes” section reports on other important compliance-related updates for bankers. For Wisconsin lawyers needing to report Continued Legal Education (CLE) credits, the November edition also includes a listing of 2021 and 2022 WBA webinars and programs which received CLE credit from the Wisconsin Board of Bar Examiners. This month’s edition also includes a special section, “Insights of a Wisconsin Compliance Officer” which includes thoughts from Bev Downing, VP-Compliance, Royal Bank. Bev recently retired after 39 years in the industry.
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October 2022 Compliance Journal

The October 2022 WBA Compliance Journal is now available. In this edition, WBA Legal covers Part 2 of a two-part series regarding contracting with minors. In this second part, readers will find guidance on what banks should consider when banking minors, including the doctrine of incapacity. The publication also includes an article about a recent court action that overturned closed-end loan HMDA reporting thresholds for exempt institutions, a summary of recently published agency rules and notices and other important compliance-related updates for bankers.

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Madison, WI 53718

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