Pub. 2 2014 Issue 2

spring 2014 3 6 16 Paul Andersen President & CEO, Gunnison Valley Bank Gunnison, UT A. Scott Anderson President & CEO, Zions Bank Salt Lake City, UT Russ Barney VP & Regional Business Banking Manager Bank of the West, Salt Lake City, UT Robert M. Bowen President and COO, Brighton Bank Salt Lake City, UT Douglas DeFries President, Bank of Utah Ogden, UT Lewis Goodwin President & CEO, Green Dot Bank Provo, UT Mark D. Howell President - Intermountain Banking AmericanWest Bank, South Jordan, UT Damon G. Miller Utah Market President, U.S. Bank Salt Lake City, UT Ron Ostler President, Comenity Capital Bank Salt Lake City, UT Joe Stroud General Counsel, GE Capital Bank Salt Lake City, UT Jill Taylor District President, KeyBank Salt Lake City, UT Paul F. Thome President & CEO, Sallie Mae Bank Salt Lake City, UT Louise Zeenati SVP & CFO, The Village Bank Saint George, UT Craig Zollinger President & CEO, JPMorgan Chase Salt Lake City, UT CHAIRMAN Anthony J. Hall President & CEO, Lewiston State Bank Lewiston, UT VICE CHAIRMAN Greg A. Winegardner Utah Regional President, Wells Fargo Salt Lake City, UT 2ND VICE CHAIRMAN Kelvin L. Anderson President & CEO, Optum Bank Salt Lake City, UT IMMEDIATE PAST CHAIRMAN Louise P. Kelly President & CEO, EnerBank USA Salt Lake City, UT PRESIDENT Howard M. Headlee President, Utah Bankers Association Salt Lake City, UT COMMUNITY BANK ADVISORY CHAIRMAN R. Tod Monsen CEO/President, Rock Canyon Bank Provo, UT INDUSTRIAL BANK ADVISORY CHAIRMAN Lee A. Carter President & Chief Operating Officer, UBS Bank USA Salt Lake City, UT REGIONAL BANK ADVISORY CHAIRMAN Michael Morris EVP, Real Estate Banking Group, Zions Bank Salt Lake City, UT UBA Board of Directors 2013/2014 BOARD MEMBERS 4 Tax Reform... Rise Up and Swing Away Tax reform is a political process, and politics is driven by fear - fear of losing power. By Howard Headlee, President 5 Washington Update: Teaching Sound Financial Habits The 2008 financial crisis taught us many lessons, one of which is the importance of an informed consumer – one who can distinguish a loan that is good and appropriate for him or her from one that is not. By Frank Keating, President and CEO, American Bankers Association 6 Compliance Corner: Clarification and Helpful Tidbits The new servicing rules are in full swing and there is still much confusion on who is required to comply with what rule, when the servicer needs to send disclo- sures and what needs to be included. Courtesy of Compliance Alliance 8 Regulatory Feedback Initiative Allows Bankers to amke their Voices Heard The Regulatory Feedback Initiative is a powerful tool in the form of a confiden- tial electronic survey which allows bankers to anonymously provide details on their most recent examination or visitation, creating a new level of trans- parency in the examination process. By Howard Headlee 12 2014 is Off to a Good Start for the UBA Education Department with Two very Successful conferences The Bank Executive Winter Conference is a great companion to the UBA Convention in Sun Valley, providing for relevant business discussions and great networking opportunities. 13 Bank Kudos 15 Bankers on the Move 16 Tech Talk - DDOS: What You Need to Know DDoS, or distributed-denial-of-service attacks, seem to be the focus of every one’s attention right now, and rightly so—we have seen huge increases this year. By Stephanie Chaumont, CISA, CISSP, Security+ 18 Not Perfect: Perfecting Security Interests in Water Shares Recent developments require banks to take extra precautions in attempting to perfect security interests in shares of stock held in water companies. 20 Interest Rate Risk: A Priority for 2014 As we move into a new year, the US economy continues to plod along at a slow and steady pace. 22 The Next Banking Crisis Talent Risk? In 1997, the McKinsey & Company consulting firm proclaimed that “the war for talent” would separate winners from losers in the years ahead. Sixteen years later, the banking industry is on the cusp of losing the war. By Richard J. Parsons 24 Should You Offer Instant Card Issuance? Six Questions to Ask The ability to offer instant card issuance at branches once involved having to print embossed cards on-site, which meant expensive printing processes. 28 UBA Associate Members