May 19, 2021

The Agencies (OCC, FRB, FDIC, FCA and NCUA) have recently proposed1 revisions to the Interagency Questions and Answers Regarding Flood Insurance. The proposal’s purpose is to supplement the July 20202 proposed Q&As, which only contained two proposed questions on private flood insurance. These new proposed Q&As are formulated based on questions received by the Agencies regarding private flood insurance rules that went into effect July 1, 2019, and include 24 proposed Q&As on private flood insurance.

Digital banking trends have accelerated as a result of the pandemic, and many institutions have pivoted toward digital transformation. But in the digital lending space, slow-moving institutions
still face a disadvantage.

At the end of May, the government’s Paycheck Protection Program is scheduled to come to a close. If Congress does not extend the program, we can expect the “Monday morning quarterbacking” about the program’s impact on the economy, its design and implementation, and its ultimate cost to begin. Those are appropriate questions to ask as we consider the lessons learned from the nation’s response to the coronavirus pandemic.

Since January 2020, the New Mexico Legislature has been in session five times: the regular 30-day session in January 2020, the first special session in June 2020, the second special session in November 2020, the 60-day regular session that started Jan. 20, 2021, and the first special session in March 2021. Why so many sessions in a little over a year? The main culprit, both directly and indirectly, has most certainly been the COVID-19 pandemic. Even with so many legislative sessions as of late, more is on the horizon. It is anticipated that the Legislature will be called to a Special Session again in November to consider reappointment legislation.

How did you get started in the banking industry?
I graduated from college in 1986 and then took some time off to travel, bartend and work various jobs to pay the rent. As most college students do, I had student loans to pay off. In 1989, about three years after graduation, I started my career in financial services as an account executive at HFC.