Wisconsin bankers travel to D.C. to meet with regulatory agencies

The Wisconsin Bankers Association and 11 Wisconsin bankers recently traveled to Washington, D.C. to meet with senior staff at four regulatory agencies.
David McCoy, President of First National Bank and Trust (FNBT) headquartered in Beloit was one of the representatives that met with the Federal Housing Finance Agency (FHFA), the Financial Crimes Enforcement Network (FinCEN), the Federal Deposit Insurance Corporation (FDIC), and the Consumer Financial Protection Bureau (CFPB).
The meetings provided an opportunity for bankers to discuss the local and state economy and how new regulations impact community banks and their ability to serve customers in Wisconsin. Topics discussed included Bank Secrecy Act/Anti Money Laundering (BSA/AML), Ability to Repay/Qualified Mortgage (ATR/QM), Brokered Deposits, and the Home Mortgage Disclosure Act (HMDA), among others.