Pub. 10 2022 Issue 3

A 2021 decision from the Utah Court of Appeals, Daniels v. Deutsche Bank National Trust, et al., presents a cautionary reminder to lenders. The case began with an ordinary $300,000 loan, secured by a deed of trust against the borrower’s home, and ended with the borrowers taking their home free of the bank’s lien. To add insult to injury, the bank was required to reimburse the borrowers $95,523 in legal fees.

FHN Financial is an industry leader in fixed income sales, trading, and strategies for institutional customers in the U.S. and abroad.

Download the PDF: http://utah-banker.thenewslinkgroup.org/wp-content/uploads/2022/11/Vericast-article-September-2022.pdf

The new era of opening accounts online is here. Over time, more people have opted to open accounts online instead of in person at a branch, as some of us might be used to. And with online account opening come uncertainties in staying compliant with Bank Secrecy Act requirements.

More than 40 bankers convened for the 2022 UBA Community Reinvestment Conference on Oct. 4, 2022, both in-person at Rice-Eccles Stadium in Salt Lake City and online via Zoom. With so much happening in the CRA space, attendees enjoyed the opportunity to reconnect and share ideas with colleagues.

Altabank Russ Carnahan has been promoted to the Branch Manager in Washington County. Russ has been at Altabank for 11 years and has been in banking since 2001, previously with Sunfirst Bank and Town & Country Bank. Mark Southam is moving from Relationship Banker to Loan Specialist at the Orem branch. Mark has been with

Bank of Utah Announces Winners of 2022 “My Utah” Photo Contest A stunning photo of Utah Lake’s seasonal ice stacks, taken by Jami Bollschweiler of Weber County, won first prize in Bank of Utah’s 2022 “My Utah” photo contest. Now in its third year, the bank’s photo contest has gained popularity, resulting in a pool

Lydia Levin Recognized with ABA Emerging Leader Award Lydia Levin, SVP, Channel Strategy at Zions Bank in Salt Lake City, was one of 11 recipients of the American Bankers Association’s inaugural Emerging Leader Awards, honoring the next generation of bank leaders for their high standards of achievement and service to the industry and their communities.

A group of Utah bankers traveled to Washington, D.C. in September to meet with federal regulators and Utah’s Congressional delegation.

Banks and other financial institutions handle some of the most sensitive parts of an individual’s life. We hope that our information is safe with these organizations, but unfortunately, breaches happen far too often. In fact, 62% of breached data came from financial services in 2019. And companies in the financial services sector can suffer dramatically if a breach occurs.

Learning & Development Trends for 2023: What You Should Know
eLearning is the future of training and development. The pandemic paved the way for the creation of technologies that continually refine and redefine how we learn. The digitization of learning not only brings convenience but also offers ways for organizations to harvest crucial insights that inform learning strategy. eLearning can provide equal access and learner customization that addresses the need of every learner.

Community banks play an important role in serving residents and businesses across Utah, while the state’s industrial banks also serve their unique niche clients. As of the second quarter of 2022, Banking Strategist reports 4,612 community bank charters in the U.S., and nearly half are headquartered in smaller, rural counties with populations less than 50,000.

For more than a decade, large financial institutions like U.S. Bank and Wells Fargo, joined by Fortune 500 giants like Apple and Google, have been the dominant players in solar investment tax credits (ITCs). Driven by federal incentives, these companies have provided funding for the largest solar projects in the country, collecting healthy returns while raising their corporate profiles as environmental/social/governance (ESG) leaders.

In today’s financial regulatory environment, two of the hottest topics are cryptocurrency and cybersecurity. Within the past year, multiple agencies have released various regulations and guidance regarding cryptocurrency, banking, and cybersecurity, both individually and collectively.

More than 100 bankers and business partners teed off at Old Mill Golf Course in Salt Lake City Sept. 9, 2022,
a glorious day of golf to support Utah’s banking industry. Mother Nature cooperated by dialing back the sweltering summer temperatures, making for a gorgeous day on the links
with perfect opportunities to connect with colleagues and tournament sponsors.

This year marks the 90th anniversary of the creation of the Federal Home Loan Bank System. Established at the height of the Great Depression through the Federal Home Loan Bank Act of 1932, the system is composed of 11 regional FHLBanks and serves 6,500 members, including many financial institutions in Utah. Today, nine decades later, FHLBanks across the U.S. continue to champion community-focused lenders, such as Bank of Utah, by providing affordable liquidity. This means we can bring homes and financial stability to our communities and give back in meaningful ways.

As I traveled the country this summer speaking at various state bankers association conventions, I’d always ask this question of my audience: How many of you have clients and customers asking you about cryptocurrencies and digital assets? And nearly everywhere I went, nearly every hand would go up.

I recently attended the American Bankers Association Annual Convention in Austin, Texas. It was an excellent event, loaded with critical information and insights on the latest issues. Scott Anderson delivered a stirring farewell as Chairman of the ABA, recognizing the exceptional leadership of ABA President Rob Nichols, the ABA’s leadership in assisting its member banks in becoming more diverse and inclusive, the commitment of bankers across the country in advocating for our industry, and the dedication of those same bankers to serving their communities. Scott’s enthusiasm energized the room. He repeated his pride in being a banker, and I was proud of how he represented the industry and, more specifically, bankers in Utah!