Pub. 6 2015 Issue 2

www.wvbankers.org 4 West Virginia Banker 20 12 © 2015 West Virginia Bankers Association| The newsLINK Group, LLC. All rights reserved. West Virginia Banker is published four times each year by The newsLINK Group, LLC for the West Virginia Bankers As- sociation and is the official publication for this association. The information contained in this publication is intended to provide general information for review and consideration. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your specific circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the West Virginia Bankers Association, its board of directors, or the publisher. Likewise, the appear- ance of advertisements within this publication does not constitute an endorsement or recommendation of any product or serviced advertised. West Virginia Baker is a collective work and as such some articles are submitted by authors that are independent of the West Virginia Bankers Association. While West Virginia Banker encourages a first print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855-747-4003. 6 A Solution in Search of a Problem Everywhere I visit in my travels around the state, the conversations I have with bankers invariably include the increased competition they face from non-bank players in the financial services markets. By Joe Ellison, President & CEO 8 How Much Portfolio Risk Is Too Much? Everyone knows that if you want to make an omelet, you have to break a few eggs. By Lester F. Murray, The Baker Group LP 10 2015 Legislative Changes to theWest Virginia Consumer Credit and Protection Act Perhaps most significant are the amendments to the statutory provision prohibiting contact with a consumer after receiving notice that the consumer is represented by counsel. By Debra Lee Hovatter, Spilman Thomas & Battle, PLLC 12 Related Interests Under Regulation O: It’s All About Control Regulation O governs a bank’s transactions with its directors, executive officers, and their “related interests.” By Sandra Murphy, Amy Tawney and Daniel Cohn, Bowles Rice LLP 16 Planning for a Successful Retirement— The Ultimate Outcome With 401(k) plans becoming the sole retirement plan for many employees today, it is more important than ever to ensure that these plans are designed to help participants meet their income goals for a secure, comfortable, and enjoyable retirement. By Mark Hogan, Regional Director, Pentegra Retirement Services 18 Credit Reporting Following a Bankruptcy Discharge The “discharge injunction” of Section 524 of the Bankruptcy Code is one of the most, if not the most, important features of United States bankruptcy law. By John Spires and Dave Thomas, Dinsmore & Shohl LLP 20 Small Changes to BSA Manual Could Have Large Compliance Implications The regulatory overhaul since the economic crisis has created a huge compliance burden for banks to implement. By Joseph W. Hager, CPA, CGMA 22 7 Reasons Why You May Want To Book That 2% Margin Loan As loan pricing becomes more competitive, the opportunity to book high quality credits at thin margins presents itself more and more. By Chris Nichols, Center State Bank 24 Grow Your Mortgage Revenue in the Secondary Market The housing market is back. The number of home sales continues to rise across the United States, particularly in the Northeast region. By Jeff Acquafondata, FHLBank Pittsburgh 25 Calendar of Events 26 Master Your .BANK Domain: Six Steps to Success If you are a banker, the world of the Internet – as you currently know it – is about to change. By Doug Johnson SVP, Risk Management, American Bankers Association 27 Bank Notes 28 Great Change: Advertising Your Bank In A New Marketplace Advertising for businesses - has changed more in the past five years - than it had in the previous 50 years - COMBINED. By Tim Maxwell, Great Advertising Factory