Advocating For Wisconsin’s Banking Industry

By Lorenzo Cruz

2023 has been off to a busy start with a tremendous amount of activity at the state government level. In between monitoring state budget negotiations and the historic shared revenue agreement between GOP leaders and Governor Tony Evers, the Wisconsin Bankers Association (WBA) continues to follow several key priorities for the 2023–2024 legislative session.

Financial Institution Modernization Reform

As of this writing, WBA is in active negotiations with the Wisconsin Credit Union League on a modernization proposal. Many of the less controversial issues have been resolved, however, contentious issues — such

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the issue. This session, our team intends to reintroduce another bill to provide banks the statutory tools to help prevent this criminal behavior.

Interchange/Credit Card Swipe Fees

Throughout the federal and state government, interchange has seen a great deal of activity as of late. In Wisconsin, the Association defeated a retail-driven coalition pushing for interchange fee reform. Despite this, WBA continues to monitor this issue as it could resurface in separate pieces of legislation.

Privacy

Nearly 200 bankers from throughout Wisconsin visited the State Capitol during WBA’s Capitol Day on April 26. The event gave bankers the opportunity to connect with their elected officials and share their concerns. Thank you to those who made the trip and continue to support our advocacy efforts!

as those related to credit union acquisition of banks — remain. To date, the Association has defeated the credit unions’ efforts on non-member participation on loans and on the automatic adoption of federal rules. Our team, in addition to various banker volunteers, has also neutralized the potential abuse of supplemental capital by advocating for safety and soundness standards determined by the Wisconsin Department of Financial Institutions (DFI) on credit unions.

Elder Fraud

With financial exploitation of seniors remaining a persistent issue, protecting vulnerable adults from predatory fraudsters is a high priority for WBA. Last session, WBA passed a bill in one house on

As anticipated, a Legislative Reference Bureau (LRB) draft on data protection has been circulated. With heavy regulation under the Gramm Leach Bliley Act, WBA successfully added language to the proposal which exempts financial institutions and their affiliates from the new state regulation. WBA will monitor the progress of the bill to preserve the financial institution exemption.

Financial Literacy

In June, AB 109/SB 115, which would require one-half credit of personal financial literacy for graduation, passed in the State Assembly 95–1. WBA signed on to a cosponsorship coalition memo in support of the legislation.

Achieving a Better Life (ABLE) Accounts

(ABLE) Accounts: AB 121/SB 122, which would expand the resident options for creating ABLE accounts, passed through the State Senate 30–3 in June. WBA supports the creation of ABLE accounts at the DFI rather than having to go out of state for the product.

Housing Package

WBA-supported AB 39/ SB 40 makes changes to the low-income housing tax credit. The bill, which would increase the tax credit from $40M to $100M, is part of a larger housing package related to loans and tax credits administered by Wisconsin Housing and Economic Development Authority (WHEDA) and are intended to address workforce housing concerns.

With so many priorities in the works, it remains imperative that WBA members are engaged in the grassroots and financial contributionrelated advocacy fronts.

In addition to the Association’s Advocacy Officer program — which is currently 115 members strong — there are several ways for bankers to get involved and support the banking industry. Capitol Day, which was held on April 26, is an excellent opportunity to make connections with legislators and share your experience and expertise. Thank you to the nearly 200 attendees who joined us at the State Capitol this year.

This calendar year, WBA created two donation levels — the Leadership Circle and the Hall of Fame. So far,