Pub. 6 2015 Issue 1

www.wvbankers.org 4 West Virginia Banker 20 12 6 Historic Times with West Virginia Legislature As I write this article, the West Virginia Legislature is in its 24th day of the 2015 Regular Session. By Joe Ellison, President & CEO 8 Conducting an Independent Review of ALCO Processes: Clarity from FDIC Once again, regulators are emphasizing the importance of sound interest rate risk (IRR) management systems and processes. By Jeffrey F. Caughron, The Baker Group LP 10 Sostaric v. Marshall: Putting the Foreclosure Sale Price in Question In 2006, Joe and Sylvia Bowers financed the purchase of a home in West Virginia with a loan from Bank for $300,000, secured by a Deed of Trust. By Debra Lee Hovatter, Spilman Thomas & Battle, PLLC 12 Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure The Financial Accounting Standards Board (FASB) released Accounting Standards Update No. 2014-04 in January 2014 as a consensus of the FASB Emerging Issues Task Force. By Wesley Allen, DHG’s Financial Services Group 16 TILA takes a Turn: Recent TILA Decisions Expand Rescission Rights Two recent federal cases construing the right to rescission under the Truth in Lending Act (TILA) have expanded the way a borrower may give notice of rescission and broadened the class of individuals who may assert a rescission claim. By Sandra Murphy, Bowles Rice LLP 18 10 Things Bank Executives Need to Know About Pension and 401(k) Plans National retirement policy is becoming a topic of conversation not just in Washington but in boardrooms all over the U.S. and is shaping how banks structure and govern their retirement programs. By Mark Hogan, Pentegra Retirement Services 20 Do You Know TODD? An Overview of the West Virginia Real Property Transfer on Death Act In 2014, the West Virginia Legislature enacted the Uniform Real Property Transfer on Death Act (the “Act”), codified as Chapter 36, Article 12 of the West Virginia Code. By David G. Hammond and Jared J. Jones Lewis Glasser Casey & Rollins, PLLC 24 68th Annual West Virginia School of Banking The 68th year of the WV School of Banking is May 17 – 22, 2015. As we review the student evaluations from previous years, we cannot help but become enthusiastic in anticipation of another great year. By Donna Atkinson, Director of Education 25 Calendar of Events