Pub. 7 2019 Issue 1

Issue 1. 2019 5 The standard is scheduled to take effect in 2020 for Securities Exchange Commission registrants, 2021 for non-registrant banks with outside equity/debt holders, and 2022 for privately held and mutual banks. Community Reinvestment Act Modernization Regulations implementing the Community Reinvestment Act have not kept pace with changes in banking and technology, and the Office of the Comptroller of the Currency has taken the lead in modernizing them. The comment period following OCC’s issue of an Advance Notice of Proposed Rulemaking closed in November 2018, with some 300 banks weighing in. That kind of engagement will be needed again in 2019, when we expect the banking agencies to jointly issue a proposed rule. This is a once-in-a-generation opportunity to move CRA into the future, but it will face substantial headwinds from those who fear (wrongly) that modernization will reduce banks’ commitment to their communities. We will be working to allay those fears and make the case for commonsense improvements. Fortunately or unfortunately, banking always has a full pipe- line of issues demanding attention. So while those above seem ripe for action in the coming months, ABA will be advocating on a host of other, equally important issues, from data security and housing finance reform to flood insurance and student debt concerns. Your continued engagement will be the key to advancing any of these issues, and creating smarter, more effective bank regulation. n But as I have said on many occasions, the fundamental business of banking — from the deployment of credit to the building of communities — does not belong to one party. E-mail Rob Nichols at nichols@aba.com. G raduates of the 6th class of the UBA Executive Development Program were honored at the UBA 8th Annual Bank Executive Winter Conference in Salt Lake City November 30. This is the sixth commencement in a program developed by the UBA to enhance and expand future banking executives understanding of all aspects of finance and leadership. 2018 EDP Graduates The Executive Development Program is a comprehen- sive course designed to cultivate the next generation of banking leaders. Exceptional instructors, with years of industry insights and experience, facilitate interactive course sessions that focus on the important economic, regulatory and competitive pressures facing the indus- try today. Each month throughout 2018, the bankers attended daylong classes on a wide range of banking topics. According to UBA President Howard Headlee, “The cross-disciplinary curriculum provides a 30,000-foot per- spective of the banking industry.” “The course provides broad exposure to different disciplines within banking organizations,” Headlee said. It also provides the bankers with introductions to colleagues at other banking institu- tions and future networking opportunities. The graduates joined their classmates along with their respective bank management at a lunch honoring them during the UBA’s Bank Executive Winter Conference November 30. n For further information on the Executive Development Program, contact Becky Wilkes, Senior Vice President at 801-214-7724, bwilkes@uba.org . 2018 EDP Graduates Honored