©2022 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 advertisements 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. Jenifer Waller President & CEO Alison Morgan Director of State Government Relations Brandon Knudtson Director of Membership Lindsay Muniz Director of Education Rita Fish Communications & Office Manager Margie Mellenbruch Bookkeeper* Craig A. Umbaugh Counsel* Jim Cole Lobbyist* Melanie Layton Lobbyist* Garin Vorthmann Lobbyist* Andrew Wood Lobbyist* * Outsourced 140 East 19th Avenue, Suite 400 Denver, Colorado 80203 Office: 303.825.1575 Websites: coloradobankers.org smallbizlending.org financialinfo.org colorado-banker.thenewslinkgroup.org Contents Over a Century BUILDING BETTER BANKS— Helping Coloradans Realize Dreams 14 12 4 2 A Word from CBA President and CEO Jenifer Waller: With a Nod to the Past, CBA Is Poised for Continued Success 4 Looking Back on 2021: The Year of Cryptocurrency and DLTs 6 Why Your Bank’s ALCO Should Use Derivatives to Manage Rate 8 The AMLA and a Culture of Compliance – More Critical Than Ever 12 CFPB Data Point Quantifies Overdraft/NSF Fee “Reliance” 14 H ow to Create a Vendor Due Diligence Checklist 17 Violating the One-Per-12-Month Rollover Rule: A Case Study 20 Optimize Your Financial Institution’s Loan Review Process January • February 2022 1
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