AB150-engrossed,1939,53
220.02
(2) (intro.) The
commissioner of banking division shall enforce all laws
4relating to banks and banking in this state, and shall enforce and cause to be enforced
5every law relating to the supervision and control thereof, including those relating to:
AB150-engrossed,1939,157
220.02
(3) It is the intent of sub. (2) to give the
commissioner of banking division 8jurisdiction to enforce and carry out all laws relating to banks or banking in this
9state, including those relating to state banks, trust company banks, and also all laws
10relating to small loan companies or other loan companies or agencies, finance
11companies, motor vehicle dealers, adjustment service companies, community
12currency exchanges and collection agencies and those relating to sellers of checks
13under ch. 217, whether doing business as corporations, individuals or otherwise, but
14to exclude laws relating to credit unions
, savings banks and savings and loan
15associations.
AB150-engrossed,1939,2317
220.02
(5) Except as otherwise provided in s. 220.037, any interested person
18or any bank or banking corporation aggrieved by an act, order or determination of
19the
commissioner division may, within 10 days from the date thereof, apply to the
20banking review board to review the same. All such applications for review shall be
21considered and disposed of as speedily as possible. The banking review board may
22require the
commissioner division to submit any of the
commissioner's official 23division's actions subject to such review to said board for its approval.
AB150-engrossed,1940,9
1220.035
(1) (a) The banking review board shall advise the
commissioner of
2banking division and others in respect to improvement in the condition and service
3of banks and banking business in this state and shall review the acts and decisions
4of the
commissioner of banking division with respect to banks, except for such acts
5and decisions subject to review under s. 220.037, and shall perform such other review
6functions in relation to banking as are provided by law. The banking review board
7may require the
commissioner of banking division to submit any of the
8commissioner's official division's actions to it for its approval. The board may make
9rules of procedure as provided in ch. 227.
AB150-engrossed,1941,211
220.035
(1) (b) Any interested person aggrieved by any act, order or
12determination of the
commissioner of banking division may apply for review thereof
13by filing a petition with the secretary of the board within 10 days after the act, order
14or determination to be reviewed, which petition shall state the nature of the
15petitioner's interest, facts showing that petitioner is aggrieved and directly affected
16by the act, order or determination to be reviewed and the ground or grounds upon
17which petitioner claims that the act, order or determination should be modified or
18reversed. The issues raised by the petition for review shall be considered by the
19board upon giving at least 10 days' written notice of the time and place when said
20matter will be heard to the
commissioner division and the person applying for review
21or that person's attorney and upon any other person who participated in the
22proceedings before the
commissioner division or that other person's attorney. Notice
23of hearing may be given by registered mail, return receipt requested, and the return
24receipt signed by the addressee or the addressee's agent shall be presumptive
25evidence that such notice was received by the addressee on the day stated on the
1receipt. Any other interested party shall have the right to appear in any proceeding
2before the board.
AB150-engrossed,1941,184
220.035
(1) (c) The board shall base its determination upon the record made
5by the
commissioner division and may also receive additional evidence to
6supplement such record if it finds it necessary. The board shall affirm, modify or
7reverse the act, order or determination under review. The burden of overcoming the
8act, order or determination of the
commissioner division under review shall be on the
9person seeking the review. Any findings of fact made by the
commissioner division 10shall be sustained if supported by substantial evidence in the record made by the
11commissioner division or in such record supplemented by evidence taken by the
12board. The board shall have the powers granted by s. 885.01 (4). Any person causing
13a witness to be subpoenaed shall advance and pay the fees and mileage of such
14witness which shall be the same as in circuit court. The fees and mileage of witnesses
15who are called at the instance of the
commissioner
division shall be paid by the state
16in the same manner that other expenses are audited and paid upon presentation of
17properly verified vouchers approved by at least one member of the board and charged
18to the appropriation of the
office of the commissioner of banking division.
AB150-engrossed,1941,2220
220.035
(1) (d) Each member of the board and all employes of the board shall,
21with respect to the disclosure of information concerning banks, be subject to the same
22requirements and penalties as the
commissioner of banking employes of the division.
AB150-engrossed,1942,624
220.035
(4) The board shall have an office in the quarters of the
commissioner
25of banking division. The board's secretary shall keep a record of the meetings of the
1board and of all hearings, decisions, orders and determinations of the board. The
2board may make reasonable rules not inconsistent with law as to the time of
3meetings, time of hearings, notice of hearings and manner of conducting same and
4of deciding the matters presented. The board may direct that hearings and
5testimony be taken by any member of the board or by an examiner designated by the
6board.
AB150-engrossed,1942,108
220.037
(1) The commissioner shall delegate a A department employe
to shall 9keep and preserve the records of the consumer credit review board.
The division
10administrator may call a special meeting of the consumer credit review board.
AB150-engrossed,1942,1712
220.037
(2) The consumer credit review board shall counsel, advise with and
13review the acts and decisions of the
commissioner of banking division under chs. 138,
14217 and 218. In performing such review functions, the board shall have all the
15powers granted to the banking review board under s. 220.035 (1) and its final orders
16and determinations shall be subject to judicial review under ch. 227. The board may
17establish rules of procedure in accordance with ch. 227.
AB150-engrossed,1942,19
19220.04 (title)
Powers of commissioner division.
AB150-engrossed,1943,421
220.04
(1) (a) The
commissioner of banking or any deputy or examiner division 22shall examine at least once in each year the cash, bills, collaterals, securities, assets,
23books of account, condition and affairs of each bank and trust company bank doing
24business in this state, except national banks. For that purpose the
commissioner 25division may examine on oath any of the officers, agents, directors, clerks,
1stockholders, customers or depositors thereof, touching the affairs and business of
2such institution. In making such examinations of banks, the
commissioner division 3shall determine the fair valuation of all assets in accordance with the schedules,
4rules and regulations prescribed by the banking review board.
AB150-engrossed,1943,106
220.04
(1) (b) In lieu of any examination required to be made by the
7commissioner division, the
commissioner division may accept any examination that
8may have been made of any bank or trust company bank within a reasonable period
9by the federal deposit insurance corporation or a federal reserve bank, provided a
10copy of the examination is furnished the
commissioner
division.
AB150-engrossed,1943,1612
220.04
(2) The
commissioner division shall examine, or cause to be examined,
13any bank when requested by the board of directors of such bank. The
commissioner 14division shall also ascertain whether such bank transacts its business at the place
15designated in the articles of incorporation, and whether its business is conducted in
16the manner prescribed by law.
AB150-engrossed,1943,2418
220.04
(3) The
commissioner or deputy commissioner division may, in the
19performance of
his or her official duties, issue subpoenas and administer oaths. In
20case of any refusal to obey a subpoena issued by the
commissioner or deputy
21commissioner division, the refusal shall be reported at once to the circuit court of the
22circuit in which the bank is located. The court shall enforce obedience to the
23subpoena in the manner provided by law for enforcing obedience to subpoenas of the
24court.
AB150-engrossed,1945,2
1220.04
(4) Whenever the
commissioner division is of the opinion that the
2loaning, investing or other banking policies or practices of any officer or director of
3any bank have been prejudicial to the best interests of such bank or its depositors,
4or that such policies or practices, if put into operation or continued, will endanger the
5safety or solvency of said bank or impair the interests of its depositors, the
6commissioner division may, with the approval of the banking review board, request
7the removal of such officer or director. Such request shall be served on the bank and
8on such officer or director in the manner provided by law for serving a summons in
9a court of record or shall be transmitted to said bank and officer or director by
10registered mail with return receipt requested. If such request for removal is not
11complied with within a reasonable time fixed by the
commissioner division, the
12commissioner division may by order, with like approval of the banking review board,
13remove such officer or director, but no order of removal shall be entered until after
14an opportunity for hearing before the banking review board is given to such officer
15or director upon not less than 10 days' notice. An order of removal shall take effect
16as of the date issued. A copy of such order shall be served upon the bank and upon
17such officer or director in the manner provided by law for service of a summons in
18a court of record or by mailing such copy to the bank or officer or director at the bank's
19or officer's or director's last-known post-office address. Any removal under this
20subsection shall be effective in all respects the same as if made by the board of
21directors or stockholders of said bank. Any officer or director removed from office
22under the provisions of this subsection shall not be reelected as an officer or director
23of any bank without the approval of the
commissioner
division and the banking
24review board. An order of removal under this subsection shall be deemed a final
1order or determination of the banking review board within the meaning and
2contemplation of s. 220.035 (3).
AB150-engrossed,1945,134
220.04
(5) The
commissioner division, in connection with the liquidation of any
5bank or banking corporation or when called upon to approve any plan of
6reorganization and stabilization thereof or when the
commissioner division is
7satisfied the interests of the depositors and creditors in assets held under any trust
8arrangement so require in connection with such reorganization and stabilization,
9may cause the bank or banking corporation or trust to be audited. The expense of
10the audit shall, upon the certificate of the
commissioner division, be refunded
11forthwith to the
office of the commissioner of banking
division by the bank, banking
12corporation or the trustees out of the assets of the bank, banking corporation or trust.
13Such charges shall be a preferred claim against the assets.
AB150-engrossed,1945,2515
220.04
(6) (a) The
commissioner division, with the approval of the banking
16review board, may establish uniform savings rules which shall be adopted by every
17bank and trust company bank. Such rules may provide the conditions under which
18banks or trust company banks may accept time deposits and the methods of figuring
19interest. Such rules may also provide the term of notice of withdrawal and the
20amounts which may be withdrawn by depositors, which conditions the bank may put
21in force in times of financial stress by action of its board of directors. The maximum
22rate of interest on deposits paid by banks whose deposits are not insured by the
23federal deposit insurance corporation, whether certificates of deposit or book savings
24deposits, shall be the same as the rate set by the federal deposit insurance
25corporation for banks whose deposits are insured by it.
AB150-engrossed,1946,92
220.04
(6) (d) The
commissioner of banking division, with the approval of the
3banking review board, may establish rules regulating the kind and amount of foreign
4bonds or bonds and securities offered for sale by the international bank for
5reconstruction and development, the inter-American development bank, the
6international finance corporation, the African development bank and the Asian
7development bank which state banks and trust company banks may purchase,
8except that such rules shall not apply to bonds and securities of the Canadian
9government and Canadian provinces, which are payable in American funds.
AB150-engrossed,1946,1311
220.04
(7) (b) (intro.) The
commissioner of banking division may, with the
12approval of the banking review board, establish uniform rules regulating
13organizations engaging in fiduciary operations. Such rules may:
AB150-engrossed,1946,1915
220.04
(7) (b) 1. Authorize the
office of the commissioner of banking division 16or any other state agency having jurisdiction over the organization to require the
17organization to submit periodic reports, in such form and containing such
18information as the
commissioner of banking division may prescribe, regarding the
19organization's fiduciary operations.
AB150-engrossed,1947,621
220.04
(8) Unless the
commissioner
division is expressly restricted by statute
22from acting under this subsection with respect to a specific power, right or privilege,
23the
commissioner of banking division by rule may, with the approval of the banking
24review board, authorize state banks to exercise any power under the notice,
25disclosure or procedural requirements governing national banks or to make any loan
1or investment or exercise any right, power or privilege permitted national banks
2under federal law, regulation or interpretation. Notice, disclosure and procedures
3prescribed by statute which may be modified by a rule adopted under this subsection
4include, but are not limited to, those provided under s. 138.056. A rule adopted under
5this subsection may not affect s. 138.041 or chs. 421 to 428 or restrict powers
6specifically granted state banks under this chapter or ch. 221 or 224.
AB150-engrossed,1947,108
220.04
(9) (a) 2. "Regulated entity" means a bank, trust company bank and any
9other entity which is described in s. 220.02 (2) or 221.56 as under the supervision and
10control of the
commissioner of banking division.
AB150-engrossed,1947,1512
220.04
(9) (b)
Notice of hearing. (intro.) The
commissioner division may serve
13a notice of a hearing which complies with s. 227.44 (1) and (2) on an official or
14regulated entity if, as a result of an examination or report made to the
commissioner 15division, the
commissioner division determines any of the following:
AB150-engrossed,1947,1917
220.04
(9) (b) 1. The official or regulated entity is violating or is about to violate
18the banking laws of this state or any rule or order issued by the
commissioner 19division.
AB150-engrossed,1947,2421
220.04
(9) (b) 3. An official is violating or is about to violate a written condition
22which the
commissioner division imposed in connection with granting an application
23or request by the regulated entity, or a written agreement entered into with the
24commissioner division.
AB150-engrossed,1948,8
1220.04
(9) (d)
Cease and desist order. If the recipient of a notice of hearing fails
2to appear or if upon the record made at the hearing the
commissioner division finds
3that a violation or unsafe or unsound practice has been established, the
4commissioner division may issue and serve on the official or regulated entity an order
5to cease and desist from the violation or practice. The order may require the official
6or regulated entity to correct the conditions resulting from the violation or practice.
7An order issued under this paragraph is effective upon service on the official or
8regulated entity named in the order and may be appealed under s. 220.035.
AB150-engrossed,1948,2010
220.04
(9) (e) 1. If the
commissioner
division finds that a violation or practice
11described in par. (b) is likely to cause insolvency or substantial dissipation of assets
12or earnings of the regulated entity or seriously prejudice the interests of its
13depositors, the
commissioner division may issue a temporary order requiring the
14official or regulated entity named in the notice of hearing to cease and desist from
15the violation or practice and to take affirmative action to prevent insolvency,
16dissipation of assets or earnings or prejudice to depositors pending completion of the
17proceedings. The temporary order is effective upon service on the official or
18regulated entity named in the notice of hearing and remains effective and
19enforceable pending completion of the administrative proceedings unless
20suspended, set aside or limited by a court as provided in subd. 2.
AB150-engrossed,1948,2422
220.04
(9) (f) 1. As part of an order issued under par. (d), the
commissioner 23division may impose a forfeiture of up to $10,000 for each violation or practice under
24par. (b).
AB150-engrossed,1949,9
1220.04
(9) (g)
Enforcement. (intro.) The
commissioner division may institute
2proceedings to recover a forfeiture under par. (f) or to enjoin the violation of an order
3issued under par. (d) and, after notice and opportunity for a hearing as provided in
4sub. (4), may order the removal of an official who commits a violation or engages in
5a practice under par. (b) or who violates an order issued under par. (d), if the
6commissioner division finds that the practice or violation involves personal
7dishonesty resulting in financial gain to the official or demonstrates a wilful or
8continuing disregard for the safety or soundness of the regulated entity, and the
9commissioner division finds any of the following:
AB150-engrossed,1949,2411
220.04
(10) If it appears to the
commissioner of banking division that a person
12has engaged or is about to engage in an act or practice constituting a violation of the
13laws of this state relating to banks and banking, including this chapter, chs. 217, 218
14and 221 to 224 and s. 138.09, or a rule promulgated or order issued under those laws,
15the
commissioner division may bring an action in the name of the state in the circuit
16court of the appropriate county to enjoin the acts or practices and to enforce
17compliance with the laws, rules or orders, or the
commissioner division may refer the
18matter to the district attorney of the appropriate county or, if the alleged violation
19may be enforced by the attorney general under s. 220.12, 221.18, 221.205, 221.28 or
20224.06 (7) or is statewide in nature, to the attorney general. Upon a proper showing,
21the court may grant a permanent or temporary injunction or restraining order,
22appoint a receiver for the defendant or the defendant's assets or order rescission of
23any acts determined to be unlawful. The court may not require the
commissioner 24division to post a bond.
AB150-engrossed,1950,2
1220.05 (title)
Examination fees
; assessment by commissioner and
2assessments.
AB150-engrossed,1950,124
220.05
(1) The
commissioner of banking
division shall assess each state bank
5and trust company bank for the cost of each examination made, which cost shall be
6determined by the
commissioner division and shall include the salaries and expenses
7of all examiners and other employes of the
commissioner division actively engaged
8in such an examination, the salaries and expenses of
the commissioner, review
9examiner or any other person whose services are required in connection with such
10examination and any reports thereof, and any other expenses which may be directly
11apportioned. Any charge so made shall be paid within 30 days from the time the bank
12receives notice of the assessment.
AB150-engrossed,1950,1914
220.05
(2) On or before July 15 of each year, each state bank and trust company
15bank shall pay to the
commissioner division an annual assessment for the
16maintenance
of the functions of the
office of the commissioner of banking division in
17an amount to be determined by the banking review board, but which shall not exceed
188 cents per $1,000 of resources, or part thereof, for the first $5,000,000 and shall not
19exceed 6 cents per $1,000, or part thereof, for all resources over $5,000,000.
AB150-engrossed,1951,2321
220.05
(5) Whenever in the judgment of the
commissioner division, the
22condition or conduct of any bank renders it necessary or expedient to make an extra
23examination or to devote any extraordinary attention to its affairs, the
commissioner 24division shall have the authority to make any and all necessary extra examinations
25and audits or partial audits and to devote any necessary attention to the conduct of
1its affairs; and such bank shall pay for each additional examination, and for each
2audit or partial audit, the actual cost thereof. Where an audit or partial audit is
3ordered, the actual reasonable cost of auditors shall be charged. Before directing any
4examination in excess of 2 or any audit or partial audit, the
commissioner division 5shall examine the audits and examinations of any clearing house association as to
6the bank in question which may be furnished to it and shall avoid duplication of
7examinations, audits or partial audits wherever reasonably possible. In case of
8audits or partial audits for which a charge may be made under the provisions of this
9section, the
commissioner division shall promptly send a copy to the bank and the
10bank shall pay the reasonable cost thereof. When the
commissioner division delivers
11to a bank a copy of any examination, audit or partial audit, the
commissioner division 12may by letter accompanying same require the bank to have the receipt of same
13acknowledged in the record of the next meeting of directors of the bank and may
14require that there be sent to the
commissioner division a certified copy of action by
15the directors showing that all the directors of the bank have read said copy and are
16familiar with its contents and have signed a statement to such effect on the copy
17received by the bank and may require that a duplicate of such signed statement
18signed by all directors to be sent to the
commissioner
division to be attached to and
19filed with the original of such examination, audit or partial audit on file
in with the
20office division. Failure of the bank or its board of directors or any of them to comply
21with any such order or direction of the
commissioner
division within a reasonable
22time fixed by it shall be sufficient ground for the taking of possession of said bank
23by the
commissioner division and liquidating said bank under s. 220.08.
AB150-engrossed,1952,13
1220.05
(6) Any bank or trust company holding any property in trust or in any
2fiduciary capacity or as custodian or bailee shall pay in addition to said fees and
3assessments provided for in sub. (2) the actual reasonable cost of any and all
4examinations (whether or not they are in excess of 2 in any one year) conducted by
5the
office of the commissioner of banking division of the books, records and business
6of said bank or trust company insofar as they relate to said property held in trust or
7other fiduciary capacity or as custodian or bailee, said cost to include a fair charge
8for time of assistants and office overhead and to be determined by the
commissioner 9division within a reasonable time after each said examination has been completed.
10A statement of such charge shall be promptly sent to said bank or trust company.
11Each such bank or trust company shall pay such charge within 10 days after receipt
12of such statement. Said cost shall include the cost of furnishing copy to the bank or
13trust company.
AB150-engrossed,1952,1615
220.06
(1) In this section, "licensee" means a person licensed by the
16commissioner of banking division under ch. 138, 217 or 218.
AB150-engrossed,1953,1518
220.06
(1m) No
commissioner of banking, deputy, assistant deputy or
19examiner division employe may examine a bank or licensee in which
such that 20person is interested as a stockholder, officer or employe. No
commissioner, deputy,
21assistant deputy or examiner division employe may examine a bank or licensee
22located in the same village, city or county with any bank or licensee in which
such 23that person is so interested.
The commissioner of banking, deputy, assistant
24deputies and every employe Employes in the
office of the commissioner division, and
25each member and employe of the banking review board, shall keep secret all facts and
1information obtained in the course of examinations or from reports not under s.
2221.15 (1) filed by a bank or licensee with the
office of the commissioner of banking 3division, except so far as the public duty of the
officer person requires reporting upon
4or taking special action regarding the affairs of any bank or licensee, and except
5when called as a witness in any criminal proceeding or trial in a court of justice. The
6commissioner division may furnish to the federal deposit insurance corporation or
7to any regulatory authority for state or federal financial institutions, insurance or
8securities a copy of any examination made of any such bank or licensee or of any
9report made by such bank or licensee and may give access to and disclose to the
10corporation or to any regulatory authority for state or federal financial institutions,
11insurance or securities any information possessed by the
commissioner division with
12reference to the conditions or affairs of any such insured bank or licensee if the
13regulatory authority agrees to treat all information received with the same degree
14of confidentiality as applies to reports of examination that are in the custody of the
15commissioner division.
AB150-engrossed,1953,2517
220.06
(2) If any
commissioner, deputy, assistant deputy, examiner or other 18employe in
such office the division or any member of the banking review board or any
19employe thereof discloses the name of any debtor of any bank or licensee, or anything
20relative to the private account or transactions of such bank or licensee, or any fact
21obtained in the course of any examination of any bank or licensee, except as herein
22provided,
he or she that person shall be subject, upon conviction, to forfeiture of
23office, or position and to the payment of a fine of not less than $100 nor more than
24$1,000, or imprisonment in the Wisconsin state prisons not less than 6 months nor
25more than 2 years, or both.
AB150-engrossed,1954,42
220.06
(3) (a) Examination reports possessed by a bank or licensee are
3confidential, remain the property of the
office of the commissioner of banking 4division and are returnable immediately on request of the
office division.
AB150-engrossed,1954,11
6220.065 (title)
Immunity
of commissioner. The commissioner of banking 7Employes of the division shall not be subject to any civil liability or penalty, nor to
8any criminal prosecution, for any error in judgment or discretion made in good faith
9and upon reasonable grounds in any action taken or omitted by the
commissioner 10division in the
commissioner's division's official capacity under the provisions of chs.
11220 to 224.
AB150-engrossed,1955,813
220.07
(1) (title)
Capital impaired;
duty of commissioner; deficiency.
14Whenever the
commissioner of banking division determines that the capital of any
15bank is impaired or reduced below the amount required by law or the articles of
16incorporation, or below the amount certified to the
commissioner division as paid in,
17the
commissioner division may require such bank
under his or her hand and seal of
18office to make good such impairment or deficiency within 60 days after the date of
19such requisition. In any case, where the capital of a bank becomes impaired or
20reduced below the amount required by law or the articles of incorporation, the board
21of directors of such bank may make a proportional assessment upon all of the stock
22of the bank to make good such deficiency, and may provide that the amount of such
23deficiency shall be due and payable at a time to be fixed by such board of directors,
24which time shall be not less than 10 days after notice of the assessment. Notice to
25stockholders residing in another state shall be given by registered mail and a return
1receipt demanded. If any stockholder fails or neglects to pay the amount of the
2assessment against his or her stock for 10 days after the assessment becomes due and
3payable, the directors of the bank may offer the stock for sale, and sell the stock at
4public sale upon 10 days' notice to be given by posting copies of the notice of sale in
55 public places in the town, village or city where the bank is located. Upon the sale,
6the purchaser shall forthwith pay the amount of the assessment against the stock.
7The amount received from the sale of the stock, less the cost and expenses of the sale,
8shall be paid to the original owner of the stock.
AB150-engrossed,1955,1910
220.07
(2) (title)
Review of commissioner's order. In any case where the
11commissioner division has made an order requiring capital to be made good, the bank
12may within 10 days after the making of said order secure a review of same by the
13banking review board by filing
in the office of the commissioner with the division a
14statement requesting such review and stating the grounds of objection to the order
15of the
commissioner division. Said board shall promptly conduct a hearing thereon
16after affording reasonable notice to the bank and shall affirm, modify or set aside the
17order of the
commissioner division. No such review or hearing shall extend the time
18for compliance with the order of the
commissioner
division unless the banking review
19board shall so direct.
AB150-engrossed,1956,521
220.075
(1) If the
commissioner division finds that the average of deposits for
22a fiscal year, as computed under sub. (2), in a bank exceed an amount equal to 15
23times the unimpaired capital and the undistributed surplus of the bank, the
24commissioner division shall order the bank to increase its capital or surplus or both.
25The order shall provide that within one year the total unimpaired capital and
1undistributed surplus shall exceed one-fifteenth of the average deposits as reported
2in accordance with this section. For purposes of making calculations under this
3subsection, a bank shall subtract from undistributed surplus that amount of all
4items classified by the
commissioner division as doubtful or loss which exceeds the
5bank's undivided profits and loan loss reserves.