KY Banker Milestones

continued: Just Because You Said It...

The younger child, who does not understand the directions finishes the dinner within the time allotted, but does not accept the lollipop offered. The second child finishes just after ten minutes but is told they cannot have the lollipop.

Is that ABUSE? Maybe, but was anyone really harmed. The small child did not want the lollipop and the older child did not win it. It is definitely bad parenting, but is it abuse? I think it is hard to know without more guidance, such as:

1. Does it apply to the “abused” customer or any (“a”) customer? 2. Does the customer have to be vulnerable? 3. Is intent required? 4. How do you know if the customer does not understand or cannot protect their interest? Guidance would be helpful, but is not likely to appear until more court cases are brought. In the meantime, your bank is at constant increased risk and the CFPB will likely continue to expand their hold, just as they have last week by increasing the reach of discriminatory practices violations into ALL banking practices, not just lending…through the use of UDAAP.

And before anyone says banks should not be discriminating against customers, I think we all agree. All customers should be provided the same products and services regardless of age, race, sex etc. However, think of products that are designed for particular stages in life—maybe for first year college students, maybe for people entering their golden years after age 70, maybe for customers who have multiple products with the bank already. How would you like to be charged with discrimination for trying to meet your customers where they are?

KENTUCKY BANKER MILESTONES

Bentley Retires as Chairman of the Bankers Title of Central Kentucky Board of Governors

After serving as Chairman of the Board at Bankers Title of Central Kentucky since the Agency was organized in October 2001, Mr. Claude Bentley has retired from the board and was presented a plaque acknowledging his 20 years of service to the Bankers Title of Central Kentucky. Mr. Bentley currently serves as a Director at Peoples Exchange Bank, Winchester. The Bankers Title of Central Kentucky board elected Mr. Hank Allen to serve as Chairman. Mr. Allen also serves as Chairman of Commercial Bank in West Liberty. Pictured: Hank Allen, Claude Bentley and Norma Carrol.

Traughber Recognized for 50-Year Career

Gary M. Traughber, Chairman, President & CEO of Elkton Bank and Trust Co., was honored for his 50 years in the banking business.