Page 27 - Inbank

Industry issues in Colorado

• State examples
o Proactive – Ensuring CO isn’t in conflict with Reg. E, preserving lien
possibilities on lines of credit, electronic trust notices, patent trolls,
safe deposit box access…
o Reactive – “150” bills – many focused on restricting banks

(foreclosures, fees, practices…) and imposing requirements
(disclosures, liability for…)

Where we are now

Many potentially harmful and important proposals anticipated for 2018 in CO
legislature

• State operated mandatory retirement program for employees not covered by
a retirement plan now (CBA killed last year, it’ll be back)
• Restrictions on cross selling, incentive compensation and arbitration

• Management responsibility/liability and fraud definition/consequences
• Safe deposit box access
• Variety of anti-business bills

Some examples of CBA’s work on banks’ behalf (a partial list)

• Several foreclosure bills (expedited • Strongest delinquent dad/mom law
foreclosures…) (exemption from liability,
• Comprehensive blockage of reimbursement, minimized record
commercially owned ILCs providing matching/reporting, lien notices,
banking services reports only 2/year, banks’ setoff)
• Enhanced fraud investigations and • State tax treatment
prosecution, • Credit insurance (highest
• Precluded bank impersonation, commissions)
• Modernized statutes to facilitate • Lender liability (four bills — e.g.,
prosecution of fraud across several commitments to lend only in writing,
jurisdictions, no liability re contaminated property,
• Restricted ability of commercial no implied terms)
companies like Wal-Mart from • Bank authority to sell insurance
owning Colorado industrial banks, • Central filing of liens (6 bills), & local
• Identified critical issues regarding governments must file liens
third party examiners for unclaimed • Reimbursement banks/borrowers’
property, cleanup contaminated properties
• Preempted local regulation of • Debtors' fraudulent transfers
banking,