Pub. 8 2020 Issue 3

©2020 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. UBA Board of Directors 2020 CONTENTS 1 CHAIR Kristin B. Dittmer EVO and CFO EnerBank USA Salt Lake City VICE CHAIRMAN Eric Schmutz President and CEO State Bank of Southern Utah Cedar City 2ND VICE CHAIRMAN Matthew D. Bloye Region Bank President Wells Fargo Salt Lake City IMMEDIATE PAST CHAIRMAN Kay B. Hall EVP and CFO Zions Bank Salt Lake City COMMUNITY BANK ADVISORY COUNCIL CHAIR Len E. Williams President and CEO Altabank American Fork INDUSTRIAL BANK ADVISORY COUNCIL CHAIR Kelly M. Barnett President WebBank Salt Lake City REGIONAL BANK ADVISORY COUNCIL CHAIR Mark A. Herman Market President U.S. Bank Salt Lake City PRESIDENT Howard M. Headlee President Utah Bankers Association Salt Lake City BOARD MEMBERS Brad R. Baldwin President & CEO First Utah Bank Salt Lake City Jan M. Bergeson Utah Market Leader Ally Bank Sandy Robert M. Bowen President and CEO Brighton Bank Salt Lake City N. George Daines Chairman and CEO Cache Valley Bank Logan Terry L. Grant Utah Market President KeyBank Salt Lake City Kisty Morris Executive Director Morgan Stanley Bank Salt Lake City Andrea J. Moss President & CEO Nelnet Bank South Jordan Wade L. Newman President and COO Celtic Bank Salt Lake City Mark Packard President Central Bank Provo Mori Paulsen Salt Lake Market President Bank of America Salt Lake City Paul F. Thome President Sallie Mae Bank Salt Lake City Brittany A. Westover Market Executive, Executive Director JPMorgan Chase Salt Lake City 2 The Bottom Line By Howard Headlee, President, Utah Bankers Association 4 Washington Update: Personal Finance for the Pandemic Era: Why Bankers Should Deliver Fin Ed Lessons Today By Rob Nichols, President and CEO, American Bankers Association 5 Helping Customers Through The PPP Forgiveness Process By Jay Kenney, SVP, Regional Manager, PCBB 6 Compliance Corner: Changes To Eligible Retained Income By John Berteau, Associate General Counsel 8 Can a Lender “ Get Lean ” In Portfolio Risk Management? By Brian J. Ruhe, Golden Eagle Insurance, Inc. 9 15th Annual Women In Banking Conference 10 4th Annual Banks and Partners Golf Classic 11 112th Annual Utah Bankers Association Convention 12 New Standards for Risk and Best Practice In Construction Lending By Mike Lacey, CoFi 14 Best Practices for Choosing a Fintech Lending Partner By Tracey Levandoski, CRCM, CrossCheck Compliance LLC 16 Check Writers Are More Important Than Ever Before Contributed By Harland Clarke 18 My Borrower Is in Default: A Few Preliminary Issues To Consider By Landon A. Hardcastle, Jones Waldo 20 Bank Kudos 22 UBA Associate Members 24 Bankers on the Move OBC Upcoming Events