The April 2024 WBA Compliance Journal is now available. In this edition, readers will find a summary of recent enacted state legislation. The “regulatory spotlight” section sets forth summaries of recently published agency rules and notices, and the “compliance notes” section provides other important compliance-related updates for bankers.
Hayley Marschke, Retail Market Manager at Bank First (NASDAQ: BFC), is pleased to announce Shelley Young has recently joined the Bank as Retail Banking Officer. “We are thrilled to welcome Shelley to our team,” said Marschke. “Her extensive background in mortgage lending and her commitment to provide personalized, customer-focused solutions ensure our customers, both new and existing, receive the highest level of service.”
Shelley joins Bank First with 33 years of experience in the mortgage industry, including the last 24 years as a Mortgage Loan Officer. Dedicated to ensuring customer satisfaction, Shelley specializes in providing tailored solutions for homebuyers and future homeowners. Her vast professional experience will be a key asset as she serves the Bank’s new and existing retail customers in Waupaca and the surrounding communities. Shelley earned her degree in travel and tourism from Southeastern Academy in Kissimmee, Florida. She is committed to her community, actively participating in various events and initiatives throughout the Wisconsin Rapids area. Shelley and her husband, Scott, are proud parents and grandparents, with a grown son and a grandson. They enjoy traveling to places with warm temperatures and convenient access to a golf course.
Kimberly Klaetsch was recently promoted to Vice President/Business & Private Banking for National Exchange Bank & Trust.
Klaetsch joined the bank in 2015 as a Mortgage Loan Officer and held several other positions before being promoted to Assistant Vice President/Retail Lending Supervisor in 2021. In her expanded role, Klaetsch will oversee and manage client portfolios, including deposits and personal and commercial loans, in addition to managing a team of retail lenders. She will also continue to originate and service loans, and generate and maintain referral relationships.
Klaetsch grew up in Fond du Lac, where she attended St. Mary’s Springs. She continued her education at UW – Milwaukee, where she double majored in finance and marketing. After college, she went on to UW – Oshkosh, to receive her master’s degree in business administration. Klaetsch currently resides in Fond du Lac, where she is an active member of the community. She is an ambassador for Envision Greater Fond du Lac and serves as a board member for the Wisconsin Mortgage Bankers Association (WMBA).
By Rose Oswald Poels
Advertisements have appeared recently on Facebook which appear to be soliciting consumers and targeting Wisconsin banks’ overdraft practices. While I’m not aware of any pending litigation or enforcement actions against any WBA-member banks, these advertisements suggest various Wisconsin banks are involved in an “overdraft investigation.” The advertisements direct Facebook users to click to find out if they were “wrongfully charged overdraft fees” or “may be owed money.” These advertisements appear to be similar to those commonly seen on television or heard on the radio asking the public whether they “have been injured from a product” suggesting that they “call now.”
This is a common tactic used by some law firms, which unfortunately appears to have been employed to target Wisconsin banks. I had the opportunity to speak with the Wisconsin Department of Financial Institutions (DFI), Wisconsin Department of Justice (DOJ), and Wisconsin Department of Agriculture, Trade, and Consumer Protection (DATCP) on this matter. While these types of advertisements do not violate chapter 221 of Wisconsin Statutes, I expressed our concerns regarding the potential misrepresentations these advertisements suggest regarding bank overdraft practices.
The group behind these advertisements goes by the name “Overdraft Fee Lawyer” on Facebook and is sponsored by Gibbs Law Group, LLP out of Oakland, California. If you see this type of advertisement on Facebook, you can click or tap on the three dots at the top right corner of the post and select the option to “Report post.”
It is frustrating to see bank names used in this manner. Wisconsin banks strive to ensure they are adhering to all applicable disclosures and requirements when it comes to overdraft services and are of course subject to close and strict regulatory scrutiny of these practices. If your bank is receiving inquiries from concerned customers on this matter, you may consider creating a resource in the form of an FAQ webpage or flyer with information such as:
- Banks provide consumer-friendly disclosures to ensure that customers understand any overdraft protection fees associated with their accounts.
- [Where to find the disclosure for an account.]
- Overdraft protection is an optional service that most consumers find valuable in order to avoid a payment being declined. Customers who want overdraft protection must opt in, and customers who wish to opt out can do so at any time without cost or consequence.
- [How to opt out of overdraft protection.]
- [Contact information for customers who have further questions about their accounts.]
The Wisconsin Bankers Association will continue to monitor these advertisements, and if your bank is impacted, please reach out to the WBA legal team at wbalegal@wisbank.com or call 608-441-1200.
Crossbridge Community Bank is proud to announce the promotion of PJ Childers as the new president of Crossbridge Community Bank, Crossbridge Mutual Holding Company, and Crossbridge Financial Inc. effective April 15, 2024. Her role will include overseeing operations and strategic planning for the bank alongside Crossbridge CEO, Mark Zulliger. She will also take a seat on the Crossbridge Community Bank Board of Directors.
Childers is a 19-year veteran of Crossbridge Community Bank and most recently held the title of Senior Vice President of Commercial Lending. She has been part of the executive leadership team for the past 7 years and has been integral to the creation and implementation of the banks 2022 rebrand.
“PJ has always had a clear and distinct vision to propel the bank into our next era. She is rooted in the community and is an example of the integrity and service model that drive our organization,” said Crossbridge CEO Mark Zulliger.
Childers said of her new role, “I am very excited for this next step in my banking career. Crossbridge Community Bank is more than just an employer. To be able to work for an organization that puts purpose first has truly been fulfilling.”
Childers graduated from UW La Crosse with a bachelor’s degree in finance. She also completed the Wisconsin Banking Association School of Bank Management and in 2019 became a graduate of the Graduate School of Banking at the University of Wisconsin – Madison.
She is a longtime board member of the Tomahawk STAR Foundation and Tomahawk Hockey Association. She recently completed her term on the Wisconsin Bankers Association BOLT (Building Our Leader of Tomorrow) board. She was fortunate to have traveled to Washington D.C. to meet with banking regulators as part of a WBA advocacy trip. She has previously been on the board of Tomahawk Main Street, Tomahawk Youth Baseball, and Lincoln County Partners in Education.
Childers succeeds Kathy Rankin who recently retired after 46 years with Crossbridge. “I have been beyond blessed to have had Kathy Rankin as a mentor for the past 19 years. Though she has some pretty big shoes to fill, I’m confident I will make her proud. I’m looking forward to working alongside our CEO Mark Zulliger to continue to grow in my banking career and help mentor and lead our staff here at Crossbridge.” Childers added.
“We are pleased to see PJ’s ascension to president. She embodies what it means to be a community banker,” said Crossbridge Community Bank Chairman of the Board, Kyle Zastrow. “Our belief in local talent and organic professional growth via strong mentors/role models is evident with her promotion. We look forward to her imprint on Crossbridge for years to come in her expanded role.”
Community can donate a portion of or all coins to Coins for Kids; North Shore Bank to match donations
North Shore Bank, today announced the bank is partnering with Children’s Wisconsin to present “Coins for Kids” leading up to the 26th annual WKLH Miracle Marathon presented by Mars Family Foundation. Beginning April 15 through May 15 at 5pm, the public can stop by any North Shore Bank in southeastern Wisconsin to count coins for free and donate all or a portion of the coins to North Shore Bank’s “Coins for Kids” to support Children’s Wisconsin. The bank is matching all donations up to $5,000 raised.
“We’re honored to once again partner with Children’s Wisconsin to offer an easily accessible way for the community to join us in donating to this important cause,” said Sue Doyle, Senior Vice President at North Shore Bank. “Now is the time to do some spring cleaning and bring in your loose change and support Children’s Wisconsin in the process.”
The donations will support Children’s Wisconsin in delivering the best care to kids and families while also fueling innovative research, programs like arts and music therapy and groundbreaking approaches to delivering mental and behavioral health care. Listeners can tune in to Miracle Marathon on May 16-17 on 96.5 WKLH or wklh.com. During this two-day radiothon, kids and families who have received life-changing care from Children’s share their incredible stories. To learn more, visit WKLH Miracle
As a growing organization, One Community Bank is thrilled to open the doors at its newest bank location – One Community Bank Cottage Grove. The new location is located at 1565 Landmark Drive between Commerce Parkway and Limestone Pass.
One Community Bank – Cottage Grove offers full-service banking capabilities to current and future clients in Cottage Grove and surrounding communities. The new location includes a drive-up lane with a teller window, and an ATM/ITM. The lobby is open Monday – Friday 8:30 AM – 5:00 PM and 9:00 AM – 12:00 PM on Saturday. The drive-up is open Monday – Friday 8:30 AM – 5:30 PM and 9:00 AM – 12:00 PM on Saturday.
The location is modern, bright, and aligns with our philosophy of clients being surrounded by service. It includes several office spaces for OCB’s new colleagues who are serving the Cottage Grove community. It also includes a welcoming spacious lobby for clients to enjoy.
“At One Community Bank we believe in serving clients, supporting colleagues, and investing in our communities. We are proud to continue investing in our communities by opening One Community Bank – Cottage Grove,” said Steve Peotter, President and CEO. “We have been fortunate to continue developing client relationships and funding new projects in Cottage Grove during the construction.”
One Community Bank worked closely with OPN Architects and Ideal Builders on the new 6,000 square foot location at Landmark Drive.
“It has been ONE-derful watching our vision come to life and seeing OCB-Cottage Grove take shape. With the official open date of Friday, March 29, we are excited to serve the Cottage Grove community. Please join us for a ribbon cutting on Tuesday, April 23 at 4:00 PM. The ribbon cutting is open to the public and all are welcome,” said Jeff Versluys, Executive Vice President and Chief Strategy Officer.
Forward is supporting the Medford School District and their efforts to update the Raider Hall floor with a $56,000 donation. The gym is used by athletes and students of all ages attending or participating in numerous sporting events.
In addition to the updates to the floor, scoreboards will be replaced and shot clocks will also be integrated. The updated Raider Hall will be attractive to the WIAA as they have hosted boys and girls sectional level basketball games in Medford in the past.
“Forward has been a constant supporter of the Medford School District including the student athletes,” commented Ryan Pilgrim, Activities Director at the Medford School District. “Their $56,000 commitment to help us update the floor and the scoreboards will help us continue the tradition of success on the court and carry that forward to create successful members of the community.”
“As an alumni and former student athlete, I see a large value in keeping facilities updated and programs strong,” stated Dave Clark, President of Forward Bank. “Athletics promotes healthy competition and teamwork which prepares athletes for their next step into the work world. Updating facilities like this also has an economic benefit by making it attractive to host more sectional games in Medford bringing visitors to eat and shop in our community.”
Wisconsin Bankers Association Power of Community Week April 15 – 20, 2024
To celebrate the connections between local businesses, nonprofit organizations, schools, and families and their hometown community bank, Bank of Sun Prairie is recognizing the Power of Community Week April 15-20, 2024, during National Community Banking Month and National Financial Literacy and Capability Month.
“We have a 126-year history in this community,” said Jimmy Kauffman, president and CEO of Bank of Sun Prairie. “It is our duty and privilege to not only give back during Power of Community Week but every week, all year long, every year.”
The purpose of Power of Community Week is to highlight the longstanding tradition of local hometown community banking and the role banks play in building strong, thriving communities.
Bank of Sun Prairie’s Power of Community Week activities include:
- Operation: Feed the Grove benefiting Cottage Grove Food Pantry sponsored by Bank of Sun Prairie. Drop off a donation item at Bank of Sun Prairie’s Cottage Grove branch, and at Dunkin’ Donuts and Grace Coffee in Cottage Grove and get a sweet treat cookie or donut in return.
- Financial Education in the High Schools: Sun Prairie East High School kicking off on April 15 – 19 with brand-new curriculum for grades 9 through 12, in partnership with Bank of Sun Prairie.
- Spring Clean Up at McKenzie Family Boys & Girls Club in Sun Prairie. Colleagues grab their gloves and rakes to spruce up the outdoor area and playground Wed., April 17.
- Love Your Library Gala, Sat., April 20 at Sun Prairie Public Library supporting the foundation as presenting sponsor.
“The Power of Community Week highlights the collective impact of Wisconsin’s banking industry,” said Rose Oswald Poels, president and CEO of the Wisconsin Bankers Association. “Bank employees tailor their efforts to the individual needs of their areas ‒ from giving financial literacy presentations in local schools to running food drives to volunteering in nursing homes ‒ it shows how passionate they are.”
Information on Power of Community Week and a map of service initiatives in
Wisconsin can be found at wisbank.com/BanksPowerWI.
One Community Bank is delighted to host a series of First-Time Homebuyer Seminars across South-Central Wisconsin this spring and summer. For those who are starting to explore the idea of home ownership, experts from OCB will provide details for each step in the home buying process and answer questions. The events will cover various topics including searching for the right home, getting qualified, credit management, down payments, closing processes, and more. Save the dates for the upcoming seminars across multiple communities:
• April 18th in McFarland, WI
• May 2nd in Madison, WI
• May 15th in Middleton, WI
• June 12th in Adams, WI
• July 17th in Stoughton, WI
These in-person seminars are free to attend. Register online to reserve a spot, space is limited. Additional event details and updates will be sent to registered attendees closer to the event date. Updates will also be shared on One Community Bank’s Facebook page and LinkedIn page. Visit www.onecommunity.bank to learn more about OCB’s mortgage lender team and current offers.