SB457,32 Section 32. 220.08 (3a) of the statutes is amended to read:

SB457,16,22 220.08 (3a) That in addition to the authority conferred by sub. (3), the division with the approval of the banking institutions review board may, for purposes of collection or liquidation, sell, assign, convey, and transfer or approve the sale, assignment, conveyance, and transfer of the assets of a closed bank or bank operating under a stabilization and readjustment agreement to any other bank or trust company under such terms and conditions as the division may deem for the best interests of the depositors and unsecured creditors of such bank.

SB457,33 Section 33. 220.08 (9) of the statutes is amended to read:

SB457,17,16 220.08 (9) Whenever any such bank or banking corporation, of whose property and business the division has taken possession, as aforesaid, deems itself aggrieved thereby, it may, at any time within 10 days after such taking possession, apply to the circuit court for the county in which such bank or banking corporation is located to enjoin further proceedings; and said court, after citing the division to show cause why further proceedings should not be enjoined and hearing the allegations and proofs of the parties and determining the facts may, upon the merits dismiss such application or enjoin the division from further proceedings, and direct the division to surrender such business and property to such bank or banking corporation. Said bank or banking corporation may, if it desires so to do, within 10 days after taking possession apply to the banking institutions review board to review the action of the division in taking possession. The banking institutions review board shall act speedily on such application. Within 10 days after notice of the decision of the banking institutions review board, said bank or banking corporation may apply to said circuit court of the county in which such bank or banking corporation is located to enjoin further proceedings. The proceedings on such application shall be on notice to the division and shall be the same as where the application to the court is made as above provided without application to the review board.

SB457,34 Section 34. 220.085 of the statutes is amended to read:

SB457,17,22 220.085 Federal aid to banks. On approval of the banking institutions review board, any state bank or trust company, or the receiver of any insolvent or delinquent state bank or trust company, may take advantage of any act that may be enacted by the congress of the United States for the relief of any state banks or trust companies.

SB457,35 Section 35. 221.0202 (5) of the statutes is amended to read:

SB457,18,8 221.0202 (5) Decision. After completing the investigation under sub. (4), the division shall make a written report to the banking institutions review board stating the results of the investigation and the division's recommendation. The board shall consider the matter, conduct any necessary hearing, and promptly make its decision approving or disapproving the application. The decision shall be final except pursuant to s. 220.035 (1) and (3). If the application is approved, the division shall endorse on each of the original applications the word “Approved". If the application is disapproved, the division shall endorse the word “Disapproved". One of the duplicate originals shall be filed in the division's office and one shall be returned by mail to the applicants.

SB457,36 Section 36. 221.0205 of the statutes is amended to read:

SB457,18,15 221.0205 Capital stock. Immediately following a bank's organization under this chapter, the division shall determine the required capital of the bank, subject to review by the banking institutions review board. In addition to the required capital stock, a contingent fund and paid-in surplus each in an amount equal to at least 25 percent of the aggregate amount of the capital stock, shall be subscribed at the time the subscription list of shareholders is prepared by the incorporators.

SB457,37 Section 37. 221.0324 (9) of the statutes is amended to read:

SB457,18,23 221.0324 (9) Pledges to and loans from the federal home loan bank. Notwithstanding sub. (3), a bank that is a member of the federal home loan bank may borrow money from the federal home loan bank for a term not to exceed 20 years and may pledge bank assets having a value that does not exceed 2 times the amount of the loan as collateral to secure the loan. Total assets pledged under this subsection may not exceed 4 times the amount of the bank's capital or any other extension of credit from the federal home loan bank.

SB457,38 Section 38. 221.0702 (3) of the statutes is amended to read:

SB457,19,12 221.0702 (3) Role of division. After consultation with the banking institutions review board, the division may make recommendations to any bank within this state as to the advisability of consolidation or merger with other banks and may make recommendations as to terms for consolidation or merger of banks in order to avoid a condition of oversupply of banks in any community or area of the state. The division may also, if requested so to do, act as mediator or arbitrator to fix any of the terms of any such consolidation or merger. The board of directors of any bank organized under the laws of this state may use a reasonable amount of the assets of the bank toward assisting in bringing about a consolidation or merger of banks or to aid in reorganization or in avoiding the closing of a bank, if the board considers it to be in the interests of safe banking and the maintenance of credit and banking facilities in the county in which the bank is located.

SB457,39 Section 39. 221.1006 of the statutes is amended to read:

SB457,19,17 221.1006 Fees for certified copies. If a certified copy of a record filed in the division is lawfully required to be furnished by the division, the division may assess a reasonable fee as determined by the banking institutions review board. These fees shall be deposited in the general fund.

SB457,40 Section 40. 223.01 of the statutes is amended to read:

SB457,19,25 223.01 Trust company banks, capital. Trust company banks may be organized pursuant to ch. 221 and shall be subject to all the provisions, requirements, and liabilities of chs. 220 and 221, so far as applicable, except that trust company banks may not accept deposits other than trust deposits and except as otherwise hereinafter provided. The division may, with the approval of the banking institutions review board, establish minimum capital requirements for a trust company bank.

SB457,41 Section 41. 224.46 of the statutes is created to read:

SB457,20,3 224.46 Independent data processing servicers. (1) Definitions. In this section:

SB457,20,4 (a) “Financial institution" has the meaning given in s. 214.01 (1) (jn).

SB457,20,10 (b) “Independent data processing servicer" means an entity that provides to a financial institution electronic data processing services, but not including the exchange of data and settlement of funds between 2 or more unaffiliated financial institutions resulting from transactions involving remote terminals under s. 186.113 (15), remote service units under s. 214.04 (21) or 215.13 (46), or customer bank communications terminals under s. 221.0303 (2).

SB457,20,13 (c) “Interface agreement" means a written agreement specifying the terms and conditions under which an interface of communications, data, or systems between independent data processing servicers shall be accomplished.

SB457,20,24 (2) Ownership of financial institution data. If a financial institution transfers or otherwise makes available to an independent data processing servicer any data from the financial institution's records, this data shall remain the property of the financial institution. The independent data processing servicer has no right, title, or interest in, or claim to legal ownership of, the data. The transfer of the data by the financial institution authorizes the independent data processing servicer only to exercise temporary control of the data for the limited purpose of performing the contracted services requested by the financial institution. This subsection also applies with respect to an independent data processing servicer that receives a financial institution's data under an interface agreement or other agreement with another independent data processing servicer.

SB457,21,4 (3) Contract disclosures by independent data processing servicers. No independent data processing servicer may enter into a contract with a financial institution, or renew or amend such a contract, unless the contract discloses, in separate contract provisions, all of the following:

SB457,21,6 (a) All fees or charges, including any fee schedule, that the independent data processing servicer may impose on the financial institution.

SB457,21,8 (b) Any formula or other grounds that the independent data processing servicer may apply or rely upon to terminate the contract.

SB457,42 Section 42 . 224.725 (1) of the statutes is amended to read:

SB457,21,17 224.725 (1) License required. Except as provided in sub. subs. (1m) and (1r), an individual may not regularly engage in the business of a mortgage loan originator with respect to a residential mortgage loan, or use the title “mortgage loan originator," advertise, or otherwise portray himself or herself as a mortgage loan originator in this state, unless the individual has been issued by the division, and thereafter maintains, a license under this section. Each licensed mortgage loan originator shall register with, and maintain a valid unique identifier issued by, the nationwide mortgage licensing system and registry.