Pub. 9 2021 Issue 2

UBA Board of Directors 2020/2021 CHAIR Eric Schmutz State Bank of Southern Utah President & CEO Cedar City VICE CHAIR Matthew D. Bloye Wells Fargo Region Bank President Salt Lake City 2ND VICE CHAIR Andrea J. Moss Nelnet Bank President & CEO South Jordan IMMEDIATE PAST CHAIR Kristin B. Dittmer EnerBank, USA EVP & CFO Salt Lake City PRESIDENT Howard Headlee Utah Bankers Association President Salt Lake City CHAIR, REGIONAL BANK Advisory Council Brittany A. Westover JPMorgan Chase Market Executive, Executive Director Salt Lake City CHAIR, COMMUNITY BANK Advisory Council Brad R. Baldwin First Utah Bank President & CEO Salt Lake City CHAIR, INDUSTRIAL BANK Advisory Council Tim Laukka WEX Bank President & CEO Midvale Jan M. Bergeson Utah Market Leader Ally Bank Sandy Robert M. Bowen President and CEO Brighton Bank Salt Lake City George Daines Chairman and CEO Cache Valley Bank Logan Doug DeFries President & CEO Bank of Utah Ogden Lew Goodwin Banking Services Lead Square Financial Services Sandy Ed Haidenthaller President Pitney Bowes Bank, Inc Salt Lake City Kay Hall EVP, CFO Zions Bank Salt Lake City Mark Herman Market President U.S. Bank Salt Lake City Dan Kennedy President Sallie Mae Bank Salt Lake City Kisty Morris Executive Director Morgan Stanley Bank Salt Lake City Mark Packard President Central Bank Provo Mori Paulsen Salt Lake Market President Bank of America Salt Lake City Spencer White President & CEO Utah Independent Bank Beaver Len E Williams President & CEO Altabank American Fork Drew Yergensen KeyBank Utah Market President Salt Lake City, UT Howard M. Headlee President Becky Wilkes Senior Vice President Beth Parker Director of Education Sara Matute Director of Member Services Annelise Dudley Communications Specialist Board Members UBA Staff CONTENTS 1 2 The Bottom Line By Howard Headlee, President and CEO, Utah Bankers Association 4 Washington Update: Perspective On The Paycheck Protection Program By Rob Nichols, President and CEO, American Bankers Association 5 One Step Closer to Instant Payments With the FedNowSM Pilot Program By Jay Kenney, SVP & Southwest Regional Manager for PCBB 6 Compliance Corner: The Black and White of TRID Timing By John Berteau, Associate General Counsel 8 What Community Banks Can Do For Vaccinations By Shawn M. Choate, SVP Human Resources, Bank of Utah 9 The Edulogue By Beth Parker, Director of Education, Utah Bankers Association 10 Women In Banking Conference 12 Do Federal Deficits Matter? By George Sutton, Jones Waldo 16 113 TH Annual UBA Convention 20 40 Year Service Awards 2021 21 Distinguished Banker Award 22 Bankers on The Move 23 Opportunities in Partnership: Ways Community Banks Can Benefit from Today’s FinTechs 24 UBA Associate Members 28 Bank Kudos 29 Best Practice: Provide Personalized Product Recommendations Online Account Openings By Harland Clarke ©2021 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.