Pub. 4 2016 Issue 3

Issue 3. 2016 3 5 16 ©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. UBA Board of Directors 2016/2017 Chairman CraigA.White President & CEO Utah Independent Bank Beaver Vice Chairman Ron Ostler Chairman Comenity Capital Bank Salt Lake City 2ndVice Chairman Dee O’Donnell Utah Regional President Wells Fargo Salt Lake City Immediate Past Chairman Jill M.Taylor Regional President,Consumer and Small Business KeyBank Salt Lake City Community BankAdvisory Chair K. John Jones President & CEO First National Bank Layton Regional BankAdvisory Chair Jill M.Taylor Regional President,Consumer and Small Business KeyBank Salt Lake City Industrial BankAdvisory Chair Donald Poulton President/CEO Medallion Bank Salt Lake City President Howard M.Headlee President Utah BankersAssociation Salt Lake City Board Members RichardT.Beard President and CEO People’s Utah Bancorp CEO,Bank ofAmerican Fork American Fork Raymond Dardano President & CEO Marlin Business Bank Salt Lake City Kristin Dittmer Chief Financial Officer EnerBank USA Salt Lake City MichaelA.Fosmark President,Leasing and Equipment Finance Celtic Bank Salt Lake City Kay B.Hall EVP,CFO Zions Bank Salt Lake City Kent Landvatter CEO FinWise Bank Sandy Damon G.Miller Utah Market President U.S.Bank Salt Lake City Carla Nguyen District Manager U.S.Bank Salt Lake City Curt Queyrouze President & CEO TAB Bank Ogden Erich Sontag President, Intermountain Banking Banner Bank South Jordan Frank K.Stepan Executive Director Morgan Stanley Bank Salt Lake City JohnTaylor President First Electronic Bank Salt Lake City MikeWatson President and CEO Capital Community Bank Provo M.Craig Zollinger Utah President & CEO JPMorgan Chase Salt Lake City 4 The Bottom Line: Concentration of Power By Howard Headlee, President 5 Dodd-Frank’s Price Tag By Rob Nichols, President and CEO, American Bankers Association 6 The New URLA is here.. with Time to Spare Just when banks thought they couldn’t get enough of Regulation Z and RESPA, the recent flood insurance changes and the phase-in over the next two years for changes to the Home Mortgage Disclosure Act, along comes another change from our friends at govern- ment-sponsored entities (GSEs) Fannie Mae and Freddie Mac: a new Uniform Residential Loan Application, or URLA, is here By James McGuire 9 AWorld Without Overdraft Protection The Consumer Financial Protection Bureau is expected to render a decision soon on how much and how frequently banks can charge customers for over- draft protection By Lynn David 12 6 Biggest Housing Data Mistakes The purpose of this white paper is to briefly delve into six of the most common errors when it comes to data reporting or data consuming. 16 Banks Using Captives for Enterprise Risk Management in Increasing Numbers It’s evident that bankers know not all enterprise risk is addressed with their commercial insurance package. 20 Bank Kudos 26 Bankers on the Move 28 UBA Associate Members