Pub. 10 2020-2021 Issue 6

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S — H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S March • April 2021 1 ©2021 The Colorado Bankers Association is proud to present Colorado Banker as a benefit of membership in the association. No member dues were used in the publishing of this news magazine. All publishing costs were borne by advertising sales. Purchase of any products or services from paid adver- tisements within this magazine are the sole responsibility of the consumer. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of Colorado Banker or its publisher, The newsLINK Group, LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group, LLC. Don Childears CEO Jenifer Waller President Amanda Averch Director of Communications Brandon Knudtson Director of Membership Lindsay Muniz Director of Education Margie Mellenbruch Bookkeeper* Craig A. Umbaugh Counsel* Jim Cole Lobbyist* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* * Outsourced Amanda Averch, CBA Director of Communications, Averch@coloradobankers.org 140 East 19th Avenue, Suite 400 Denver, Colorado 80203 voice: 303.825.1575 — fax: 303.825.1585 Websites: www.coloradobankers.org www.smallbizlending.org www.financialinfo.org https://colorado-banker.thenewslinkgroup.org/ 3 10 20 2 Public Banking: High Risk, No Reward 3 Chairman’s Message: April is Financial Literacy Month – But We Work On It Year-Round 6 Employer-Paid Sick Leave In Colorado: Important Paid Sick Leave Requirements Under Colorado’s Healthy Families and Workplaces Act (“HFWA”) 8 FEATURE ARTICLE: 2021 Could See More Retirement and Health Legislation 10 FEATURE ARTICLE: Strengthening Your Defenses Against Emerging Cyber Threats 12 Bank Exam Prep Center 14 Uncovering Fee-Income and Yield Opportunities in a Challenging Market 15 Six-degree Hacker Assessment: Is Your Information at Risk? 16 The National Defense Authorization Act: BSA/AML Initiatives 18 Today for Tomorrow – Proactive, Risk Mitigating Steps for Lenders 20 Establishing and Maintaining Pay Equity 22 Why Your Bank Should Consider Selling Their Charged Off Debt Files 23 A Robust Recovery Requires Consistent “Rules of the Road” 24 PEOs and Financial Wellness