AB563

AB563 AB563
Assembly
Record of Committee Proceedings

Committee on Financial Institutions

Assembly Bill 563
Relating to: the creation of a new type of financial institution; the powers of and requirements applicable to these financial institutions; providing an exemption from emergency rule procedures; and granting rule-making authority.
By Representatives Jeskewitz, Rhoades, Kelso, Ward, Riley, F. Lasee, Huebsch, Plale, Jensen, Kestell, Ladwig, Staskunas, Montgomery, Hahn, Spillner, Owens, Ziegelbauer, Vrakas, Gronemus, Stone, Duff, Kedzie, Miller, Hoven, Leibham, Olsen, Hundertmark, Reynolds, Suder, Pettis, Walker, Klusman, Sykora, Grothman, Kreibich and Lassa; cosponsored by Senators Moore, Fitzgerald, Welch, Darling, Rosenzweig, Lazich, Rude, Drzewiecki, Farrow and Zien.

October 27, 1999 Referred to committee on Financial Institutions.

December 15, 1999 PUBLIC HEARING HELD

Present: (15) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch, Montgomery, Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Absent: (0) None.

Appearances for
· Representative Sue Jeskewitz
· Dave Anderson, Department of Financial Institutions
· Chris Green, Department of Financial Institutions
· Kurt Bauer, Wisconsin Bankers Association
· Joseph K. Zaffino, Wisconsin Bankers Association
· Lee Schmalz, East Wisconsin Savings Bank

Appearances against
· None.

Appearances for Information Only
· Ron Halorsen, Wisconsin Credit Union League

Registrations for
· Alan Langeteig, First Business Bank
· John Topczewski, Johnson Bank
· Jim Bradley, Home Savings Bank
· Charles Pittelbom, The Equitable Bank SSB
· Jody Becker, The Park Bank
· Amy Boyer, WI Mortgage Bankers Assn
· Sharon Cook, M&I Corp.
· Tim Elverman, Bank One, Wisconsin
· Daryll Lund, Community Bankers of Wisconsin
· Douglas Timmerman, Anchor Bank SSB

Registrations against
· None.

January 25, 2000 EXECUTIVE SESSION

Present: (15) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch, Montgomery, Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Absent: (0) None.

Moved by Representative La Fave, seconded by Representative Hoven, that Assembly Amendment 1 be recommended for introduction and adoption.

Ayes: (15) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch, Montgomery, Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Noes: (0) None.
Absent: (0) None.

INTRODUCTION AND ADOPTION RECOMMENDED, Ayes 15, Noes 0, Absent 0


Moved by Representative Morris-Tatum, seconded by Representative La Fave, that Assembly Amendment 2 be recommended for introduction.

Ayes: (15) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch, Montgomery, Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Noes: (0) None.
Absent: (0) None.

INTRODUCTION RECOMMENDED, Ayes 15, Noes 0, Absent 0


Moved by Representative Morris-Tatum, seconded by Representative Meyer, that Assembly Amendment 2 be recommended for adoption.

Ayes: (8) Representatives Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Noes: (7) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch and Montgomery.
Absent: (0) None.

ADOPTION RECOMMENDED, Ayes 8, Noes 7, Absent 0


Moved by Representative Jeskewitz, seconded by Representative La Fave, that Assembly Bill 563 be recommended for passage as amended.

Ayes: (15) Representatives Jeskewitz, Kelso, Kedzie, Rhoades, Kreibich, Huebsch, Montgomery, Hoven, La Fave, Kreuser, Meyer, Morris-Tatum, Plale, Plouff and Turner.
Noes: (0) None.
Absent: (0) None.

PASSAGE AS AMENDED RECOMMENDED, Ayes 15, Noes 0, Absent 0





Rebecca Larson
Committee Clerk