Pub. 6 2015 Issue 3

www.wvbankers.org 4 West Virginia Banker 20 10 © 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 Banker 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 WVBA Insurance Group Offers Expertise in Many Areas I discuss a lot of issues in my quarterly article. By Joe Ellison, President & CEO 8 Meet Your Chairman Alan Brill How I got into the banking business: Actually, I started working at the bank the summer of my junior year in college. By Alan Brill, President and CEO, Capon Valley Bank Wardensville, WV 10 Liquidity and Investment Management The Bank as a System: A bank is a system of interrelated functions. By Jeffrey F. Caughron, The Baker Group LP 12 Avoiding “Disparate Impact” Liability After The Supreme Court’s Decision in Inclusive Communities The Fair Housing Act (“FHA”) and the Equal Credit Opportunity Act (“ECOA”), prohibit banks from discriminating against customers on the basis of various personal characteristics (e.g., race, gender, marital status, etc.). By Sandra Murphy and Floyd Boone, Bowles Rice LLP 14 Supreme Court Decision May Make It Easier for Borrowers to Sue for Discrimination A recent decision of the Supreme Court of the United States may make it easier for borrowers to claim discrimination when denied a loan. By Nicholas Mooney II, Spilman, Battle & Thomas 16 Calculating How Much Money You Need to Retire For an increasing number of participants who may have signed up for their company’s 401(k) plan late in life, concerns over whether they will be able to save enough to “afford” to retire can be significant. By Mark Hogan, Regional Director, Pentegra Retirement Services 20 OCC Risk Perspective – The Risk You Save May Be Your Own The Office of the Comptroller of the Currency (OCC) has issued its Semiannual Risk Perspective for Spring 2015, offering guidance to national bank examiners on current industry trends and highlighting issues of critical concern, though it is intended to have much wider impact as a resource for the financial services industry and the public. By Jonathan Levin, Dinsmore & Shohl LLP 21 MFA Economic Outlook July 13, 2015 The signs we see today are signs of an improving economy. By Charley McQueen, McQueen Financial Advisors, Inc. 23 HowRegulation is Changing the Value of Public Funds for West Virginia’s Community Banks Promontory recently published a white paper1 about how shifting factors in the banking industry are making public fund deposits more available to community banks. By Erich Buckenmaier , Regional Director, Promontory Interfinancial Network 25 Calendar of Events 26 Revised Flood Insurance Regulations Include Escrow Requirement If you are a banker, the world of the Internet – as you currently know it – is about to change. By Richard C. Donovan, CPA, CRCM, CTP, Arnett Carbis Toothman LLP 28 Is CECL For Real? Promo: David Ruffin and Randal Rabe Describe How toPrepare for Major Changes to the ALLL. The Financial Accounting Standards Board (FASB) is expected to release its final standard on accounting for credit losses before the end of 2015. By David Ruffin and Randal Rabe 30 Traditional Financial Institutions and Community Loan Funds Combining Resources Introduction to Alternative Lending While traditional financial institutions form the foundation of the West Virginia lending landscape, a complimentary sector composed of nontraditional lenders also provides credit access for borrowers. By Jen Giovannitti, Shannon McKay and Sean O’Hara, Federal Reserve Bank of Richmond 32 Compliance – Burden or Opportunity? Compliance is such a vital area to the bank, it is as important as any other area of the bank. By Scott Daugherty, Compliance Alliance 33 Bank Notes