Pub. 4 2015 Issue 5

July 2015 7 l e a d i n g a d v o c a t e f o r t h e b a n k i n g i n d u s t r y i n k a n s a s The CFPB was urged to finalize the proposed amendments to Regulation CC in order to resolve liability confusion when a check is deposited by remote capture and then negotiated as an original check. The CFPB was also encouraged to consider amending the mortgage servicing rule which delays the ability of a servicer to initiate foreclosure proceedings until the mortgage is 120 days past due when the reason for the default is not related to past due payments. The CFPB was asked to allow existing provisions in Regulation E to be used in addressing consumer risk to overdraft charges rather than creating new regulations. An additional topic discussed was to allow a permanent balloon loan exemption for small creditors, regardless of the markets they serve, as long as they keep the loan in portfolio. There was also discussion surrounding the length, complexity and relevance of the new call report for community banks. Some regulators seemed open to creating a streamlined call report for community banks with traditional banking services. The meeting at the FDIC revealed that FDIC premiums will be decreasing by about 1/3 in coming months when the reserve fund ratio level reaches $1.15 billion dollars, at which point banks with over $10 billion in assets will be assessed an additional fee to bring the fund to $1.35 billion. Bruce Schriefer, Bankers’ Bank of Kansas, Wichita, and Brent Padgett, Citizens National Bank, Greenleaf, prepare for a briefing at the ABA. Senator Roberts greets Kent Needham, First Security Bank, Overbrook, as he enters for his briefing with Kansas bankers. Mark Larrabee, Arvest Bank, Shawnee Mission; KBA President Chuck Stones, Senator Jerry Moran and Ted Starr, Citizens State Bank & Trust, Hiawatha, pause for a photo at the KBA reception. Representative Tim Huelskamp and Kyle Campbell, Astra Bank, Abilene, catch up at the KBA reception at the Ritz-Carlton, Pentagon City. Several bankers from the 3rd Congressional District visited Congressman Kevin Yoder’s office. Left to right is Trent Grissom, CalTech, Olathe; Dave Shepherd, The Mission Bank, Shawnee Mission; Representative Kevin Yoder; Barbara Christ, Arvest Bank, Overland Park; Mark Larrabee, Arvest Bank, Shawnee Mission; and Matt Hoefer, First State Bank & Trust Co. of Larned, Overland Park.