Pub. 3 2012 Issue 3

www.wvbankers.org 4 20 8 7 Meet Steve Morris: Your 2012-13 Chairman K. Stephen Morris, President and CEO, Jefferson Security Bank was elected 2012-13 Chairman of the West Virginia Bankers Association during our 119th Annual Convention By K. Stephen Morris, President and CEO, Jefferson Security Bank 8 Servicemembers Civil Relief Act: Purpose and Coverage By understanding which individuals are covered by the Act, your business will be able to ensure the protections of the Act which are provided to the servicemembers serving the country on active duty, and, thus, you will be able to limit potential exposure for liability and help reduce risks to your business. By Angela L. Beblo and Brienne T. Marco, Spilman Thomas & Battle, PLLC 10 Transporting Cash Secrecy is of utmost importance when an employee transports cash. The best way to prevent placing an employee in a vulnerable position is to use secrecy anytime it is necessary for a bank employee to transport cash. By Charles M. Towle, Senior Vice President, Kansas Bankers Surety Company 12 Fourth Circuit Court Gets It Right In a case that will have a significant impact on consumer litigation in West Virginia, the Fourth Circuit Court of Appeals upheld the dismissal of a purported class action based on illegal debt collection claims as time-barred. By Sandra M. Murphy, Bowles Rice McDavid Graff & Love LLP 16 What’s a Security Officer to Do About the New Paradigm for Clearing Branches? If your bank is using credit scores in credit, deposit, or employment decisions, review your processes for compliance with risk-based pricing and adverse action disclosures. By Matt Dugas, Senior VP of Sales and Design, West Virginia Regional Sales Manager, BD&E 19 IOLTA: More Than Just an Interest Rate Court Appointed Special Advocates (CASA) are volunteers appointed by judges to protect the interests of children in child abuse and neglect court proceedings. The West Virginia CASA Network is one of seven groups that receive money from Interest on Lawyer Trust Accounts (IOLTA). By Jennifer Bundy, Public Information Officer, Supreme Court of Appeals of West Virginia 20 Getting the Most Out of Your Asset/Liability Committee As a result of increased examiner focus on interest rate risk, many financial institutions are reviewing and enhancing their asset/ liability functions, models, and risk management processes. By Ed Krei, Managing Director, The Baker Group LP 24 Member Notes 24 New Associate Members 26 Calendar of Events