Pub. 4 2016 Issue 1

Issue 1. 2016 3 6 12 ©2016 Utah Bankers Association | The newsLINK Group, LLC. All rights reserved. Utah Banker is published quarterly each year by The newsLINK Group, LLC for the 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 and consideration. The contents do not constitute legal advice and such 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 specific circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the 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 that are independent of the Utah Bankers Association. While the 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 permission. For further information, please contact the publisher at: 855.747.4003. 4 How Long Can Credit Unions Stand By and Watch By Howard Headlee, President 5 Heart of Our Community Spotlight 6 Washington Update: Help Us ‘Power Up’ I think most bankers would agree that the policy environment today is not a heck of a lot better for our industry than it was in 2008. By Rob Nichols, President and CEO, American Bankers Association 7 2016 UBA Ag Outlook and Conference More than 80 bankers and their Ag custom- ers attended the Annual UBA Ag Outlook and Conference in St. George on January 28-29, 2016. 8 Crime-as-a-Service = Hackers for Hire The Evolution of Cybercrime Close your eyes for one second and picture in your mind a “hacker.” What does he or she look like in your mind? By Jon Waldman, Partner, Senior Information Security Consultant - Security Banking Solutions, LLC 10 Compliance Corner: What We Learned: Know Before You Owe Mortgage Disclosure Rule – If you missed the CFPB’s TRID Construction Lending Webcast because you were too busy slogging through work or just couldn’t motivate yourself to sit through another drone-voiced slide-reading webcast, don’t worry, because we listened for you. By Jennifer Kirby 12 .“Section 4(a)(1½)” Exemption for Resales of Restricted Securities Now Codified The .com world has become overcrowded, making it difficult for banks to stand out. 14 Bankers on the Move 17 ABA Online Training As your Local American Bankers Association Training Provider, purchasing ABA Training online through the Utah Bankers Assocaion has never been easier! 17 Train Your Cyber Brain with Online Certifications from the SBS Institute The SBS Institute and the Utah Bankers Association is excited to announce a few changes to the certification program. By Josh Banta, VP Service and Technical Sales, Data Business Equipment, Inc. 18 Bank Kudos 24 UBA Associate Members UBA Board of Directors 2015/2016 CHAIRMAN Jill M.Taylor Regional President,Consumer and Small Business KeyBank Salt Lake City,UT VICE CHAIRMAN CraigA.White President & CEO Utah Independent Bank Beaver,UT 2NDVICE CHAIRMAN Ron Ostler Chairman Comenity Capital Bank Salt Lake City,UT IMMEDIATE PAST CHAIRMAN Kelvin L.Anderson President & CEO Optum Bank Salt Lake City,UT COMMUNITY BANKADVISORY CHAIR Brad R.Baldwin President & CEO First Utah Bank Salt Lake City,UT REGIONAL BANKADVISORY CHAIR Dee O'Donnell Utah Regional President Wells Fargo Salt Lake City,UT INDUSTRIAL BANKADVISORY CHAIR Donald Poulton President/CEO Medallion Bank Salt Lake City,UT PRESIDENT Howard M.Headlee President Utah BankersAssociation Salt Lake City,UT BOARD MEMBERS RichardT.Beard President and CEO,People’s Utah Bancorp CEO,Bank ofAmerican Fork American Fork,UT MichaelA.Fosmark President,Leasing & Equipment Finance Celtic Bank Salt Lake City,UT Robert Garinger President & CEO American Express Centurion Bank NewYork City,NY Kay B.Hall EVP,CFO Zions Bank Salt Lake City,UT K. John Jones President & CEO First National Bank Layton,UT Richard Lake President Merrick Bank South Jordan,UT Damon G.Miller Utah Market President U.S.Bank Salt Lake City,UT MarkW.Packard Senior ExecutiveVice President Central Bank Springville,UT Erich Sontag President, Intermountain Banking AmericanWest Bank South Jordan,UT Katie Spratling President Holladay Bank &Trust Salt Lake City,UT Frank K.Stepan Executive Director Morgan Stanley Bank Salt Lake City,UT M.Craig Zollinger Utah President & CEO JPMorgan Chase Salt Lake City,UT