Pub. 8 2017 Issue 4

www.wvbankers.org West Virginia Banker 24 State Laws Some states have enacted stronger protections than the federal regulations. These are not preempted by federal regulations so long as they provide more protection, not less. For example, in Cali- fornia reserve members called into active duty are entitled to defer payments on a whole host of loan types. Other states have statutes making a violation of the MLA a violation of state law as well, pos- ing the possibility of additional liability for violations. Evaluate Evaluation of the bank’s existing level of compliance is critical. Military lending is a pervasive compliance risk, reaching from the Board of Directors to the teller. Key areas to consider include eligibility management, loan servicing, vendor over- sight, SCRA/MLA benefit allowances and denials, and product development. Implement Though designing compliance structure is always bank-specific, some general considerations are useful in the military lending arena. Bank software may not be adaptable to the distinct nature of military lending requirements, so it might be nec- essary to implement a manual system to tackle factors like eligibility, rate compli- ance and review, and enforcement action compliance. The status of an individual customer can change quickly, either in to or out of cover- age under the regulations. Therefore, it is incumbent on the bank to incorporate an effective monitoring system. The grave im- pact of personnel training and education cannot be overstated, a myriad of enforce- ment actions citing deficiencies therein. Interdepartmental communication, such as between compliance and product devel- opment, is another essential consideration in the implementation effort. Finally, man- aging third party vendor compliance can make or break the enterprise-wide military lending management effort, a point em- phasized in the same speech by the OCC official mentioned earlier. Conclude I Must It is clear the risks banks face for noncompliance with military lending law and regulation are far-reaching, including reputation, compliance, legal, and safety and soundness. Conversely, compliance can and often does lead to enhanced relationships with the military community forging partnerships that last a lifetime. It would be a tough pill to swallow to believe that most banks fail to comply with military lending law and regulation intentionally, but as we all know, the road to hell is paved with good intentions – and minefields. Let your compliance management system be your goldmine.  Kimberly R. Graves Associate General Counsel Kimberly serves as Associate General Counsel for Compliance Alliance. She is a Magna Cum Laude graduate of St. Mary’s University School of Law and holds a Bachelor of Arts in Political Science from the University of Texas at San Antonio, also with the Magna Cum Laude distinction. Kimberly brings value to our member banks through her experience during law school at both a regional and national financial institution and through over a decade of business management experience attained prior to law school. She developed a passion for banking regulation while performing extensive legal research on topics including financial institution law, commercial paper, and corporations. In her spare time, she and her husband wrangle four little boys aged 8 and under, including a set of fraternal twins. Bank Notes Clear Mountain Bank Leslie Snyder Lester recently joined Clear Mountain Bank as a mortgage loan specialist at the bank’s Suncrest office in Monongalia County. In her position, Lester will assist customers with conventional mortgage purchases, refinances, construc- tion loans and more. Lester brings more than 10 years of banking experience to Clear Mountain Bank. With a broad banking back- ground, Lester began her career as a teller, was a branch manager, and then moved into the mortgage department. She has more than 7 years’ experience as a loan processor and loan officer. Ohio Valley Bank Patrick H. Tackett was recently promoted to Senior Vice Pres- ident, Chief LendingOfficer, of Ohio Valley Bank and Vice President of Ohio Valley Banc Corp. Tackett began his career at Ohio Valley Bank in 1983 during his senior year in high school. He started out as a loan clerk and worked his way up through the company. Premier Bank Diana Kinder recently joined the bank as Assistant Vice President and Loan Assistants’ Team Lead. She comes to Premier Bank from MVB Bank, where she was Commercial Loan Portfolio Manager since 2008. She began her banking career in 2007, as a Retail Banker with Woodforest National Bank in Fairmont. Nancy Kissinger joined the bank’s Southern West Virginia Division, as Senior Vice President – Commer- cial Banking. Based in Beckley, Kissinger has es- tablished a Loan Produc- tion Office for the bank. She began her banking career in 1975 with First Nation- al Bank of Dayton, OH (PNC Bank), in the Accounting Department, progress- ing to Commercial Lender. She also worked for Huntington National Bank in Dayton, prior to joining Charleston National Bank (Chase) in 1984. Nancy is very active in the community, serving on the boards of a number of organizations. William Lindlaw recently joined Premier Bank as Executive Vice President and Washington Division President. He was previously Executive Vice President/Co- CEO and Chief Lending Officer at Da- mascus Community Bank in Maryland. He was responsible for all lending and credit functions, including mortgage operations, special assets, commercial lending and real estate. He began his banking career in 1979 with Maryland National Bank. Jason Turner has joined the bank as Vice President and Commercial Lender, supporting the bank’s Central West Virginia and Mid-Ohio Valley divisions. He began his banking career in 2007 as a Branch Manager and Retail Lender for MVB Bank. Turner is a graduate of Fairmont State University, with a Bachelor of Science – Management and Marketing degree