©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 4 2 2 A Word from CBA Chairman Significant Regulatory Changes 4 Getting the Most Value from Your Banking Compensation Survey 7 Executive Order Sets Stage for More Crypto Adoption 8 Goodbye Old Payroll Processes; Hello Happy Employees 10 Washington Update House Considers Overdraft Program Fee Reform 12 Five Things Banks Can Do to Prepare for Interest Rate Hikes 14 Countdown to CECL: A Timeline for Community Banks 18 Five Strategies for Strengthening Your Bank’s Cybersecurity Posture 22 Why Commercial Lenders Should Invest in Automated Document Collection 26 66 . . . 6 Reasons Rule 66 Receiverships Are the Mark of Ingenuity 18 Colorado Bankers Association The May • June 2022 1
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