Howard M. Headlee President howard@utah.bank Becky Wilkes Senior Vice President bwilkes@utah.bank Beth Parker Director of Education beth@utah.bank Sara Matute Director of Member Services sara@utah.bank Brian Comstock Director of Communications & Marketing brian@utah.bank UBA Staff CONTENTS 1 ©2022 Utah Bankers Association | The newsLINK Group, LLC. All rights reserved. Utah Banker is published four times each year by The newsLINK Group, LLC for Utah Bankers Association and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and banker education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of Utah Bankers Association, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Utah Banker is a collective work, and as such, some articles are submitted by authors who are independent of Utah Bankers Association. While Utah Bankers Association encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at 855.747.4003. 2 The Bottom Line By Howard Headlee, President and CEO, Utah Bankers Association 3 Upcoming UBA Events Fall 2022 4 Washington Update Breaking Down The Debate Over Digital Assets By Rob Nichols, President and CEO, American Bankers Association 6 Federal Home Loan Bank Celebrates 90 Years By Douglas L. DeFries, President and CEO of Bank of Utah, FHLB Des Moines, Board of Directors Utah Directorship 8 Sixth Annual UBA Golf Classic A Swinging Success 10 Cryptocurrency: Safe or “Sus”? By Carol Ann Warren, JD, Associate General Counsel, Compliance Alliance 12 For Community Banks, The Sun Also Rises Solar Tax Credit Investments Now More Accessible By Josh Miller, CEO, KeyState Renewables 14 As Client Needs Evolve, Banks Are Expanding Offerings Through Correspondent Banking By Phil Diederich, Manager, Zions Correspondent Banking 16 The Edulogue By Beth Parker, Director of Education, Utah Bankers Association 18 Crucial Steps In A Data Breach Response Plan For Financial Organizations By James Fair, Sr. VP of Technical Operations, Executech 20 UBA Fall Washington, D.C. Visit 21 Emerging Bank Leaders Spotlight 22 Bank Kudos 24 Bankers on the Move 26 UBA Community Reinvestment Conference By Brian Comstock, Director of Communications & Marketing, Utah Bankers Association 27 Questions, Issues And Strategies Involved In Opening Accounts Online By Sharvelle Washington, CAMS BSA/Compliance Officer, Bankers’ Bank of the West 28 Loan Strategies To Help Your Customers Fight Inf lation And Earn Their Trust By Stephenie Williams, Vice President, Financial Institution, Product and Strategy, Vericast 31 UBA New Associate Member FHN Financial 32 UBA Associate Members 35 A Case Study: Lenders Beware of an Expiring Statute of Limitations 12 4 14 16
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