Pub. 8 2020 Issue 2

ISSUE 2. 2020 5 801.532.1500 | rqn.com Good People Drive Great Results Ray Quinney & Nebeker congratulates our partner, Douglas M. Monson, on his outstanding achievements. The Utah State Bar Banking and Finance Law Section named RQN attorney Douglas Monson the “2019 Banking and Finance Law Lawyer of the Year.” Doug was recognized for his distinguished legal career and considerable contributions to the development of banking and finance law in Utah. “We are honored to practice law with Doug, who in addition to being an outstanding lawyer, is a genuinely great person and partner. He is deserving of this recognition in every way," said Mike Mayfield, chair of the Firm’s Banking and Finance Section. In his 37 years of legal service, Doug has made significant contributions to the Firm and to Utah Bar’s Banking and Finance Section. He has extensive experience with commercial loan documentation projects involving numerous multi-million dollar loans, as well as loan workouts, insolvency proceedings, and lender liability strategy and resolution. Doug represents clients in commercial lending negotiations and documentation services, commercial real estate financing, general corporate and business financing, and agricultural lending. extra time to help customers needing forbearance or other accommodations and the employee disinfecting the ATM each day, you proved that serving your communities is not just your job, it’s your calling. Your personal efforts, combined with banks’ institutional responses — waiv- ing fees, offering low-rate personal loan programs, deferring payments and even effectively fronting customers their eco- nomic impact payments — demonstrate that banking is first and foremost about helping others. America’s banks weren’t just deemed essential businesses by governors in state after state; they became essential partners in delivering massive amounts of feder- al government relief. Despite its faults, the SBA’s unprecedented PPP program — which in its first phase processed 14 years’ worth of SBA loans in less than 14 days — simply could not have been executed without banks acting as the middlemen. And thanks to the sophisti- cated payment system the industry has built over the years, banks have been key conduits for distributing — safely and quickly — tens of millions of economic stimulus payments to individuals. ABA has been proud to support you in your efforts and to tout publicly all you have done, as we did through aba.com/ CoronavirusResponse and the press statements, media interviews and digital ads that pointed people to that page. As always, our efforts are carefully coor- dinated with the ABA-State Association Alliance, which has never been more im- portant or more valuable to the industry as a whole. For the first several weeks of the crisis, state association and ABA leaders held daily conference calls to discuss what banks were reporting from the front lines, identify solutions and relay needed policy fixes or guidance to policymakers. The flow of information was equally important in reverse. Sometimes the clarity we all needed from Washington was slow to arrive, but policymakers understood and appreci- ated that our appeals were solutions-fo- cused and made in good faith. Our most effective advocacy often involved direct phone calls, emails and texts to lawmak- ers, regulators and top Treasury and SBA officials, with public finger-point- ing taking a back seat. ABA’s efforts throughout the crisis, like your state association’s, have been focused on ensuring you have what you need to continue supporting your institutions, customers and communities through these extraordinary times. We deeply appreciate all of your efforts and are committed to supporting you as we work to rebuild the economy. Because every hero needs a sidekick, and we are proud to be yours. n E-mail Rob Nichols at nichols@aba.com . These essential service providers are the pandemic’s heroes, putting the needs of others ahead of their own.