OFFICIAL PUBLICATION OF THE NEW MEXICO BANKERS ASSOCIATION

Pub. 21 2024 Issue 2

Bank News

Heritage Trust Strengthens Leadership Team Heritage Trust, New Mexico’s longest-operating independent trust company, recently announced the appointment of Stella Edens Pederson as its new president. With an illustrious career spanning over three decades in the legal and financial sectors, Stella brings unparalleled expertise and leadership to her new role at Heritage Trust. “We are delighted

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Three Stages to Unlock a People-First Work Culture

Building your institution’s culture takes time. There may be highs and lows, but if you prioritize listening to and engaging within your team, you will persevere. We all know how hard it is to attract and retain top talent in the competitive community bank market. As a chief people officer, I have seen the value

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Unlock More Profitable Customer Relationships

Finding the right price for a customer’s deposits or loans can be a difficult balance. Relationship pricing involves looking at your customer’s entire relationship of loans, deposits, fee income and other products to determine the customer’s overall profitability and using this information to make strategic decisions on pricing for renewals or new products. This pricing

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The Supreme Court’s Radical Reshaping of America

There is a broad sense right now that, no matter what side of the political spectrum one falls on, the government isn’t remotely responsive to the desires of the American populace in any way. In any society, there are certain myths that are regularly enforced and impressed upon the public, both in order to maintain

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New Mexico Mortgage Finance Authority’s Several Home Rehabilitation Programs

Keeping Homes Affordable and Boosting Communities

When the New Mexico Mortgage Finance Authority (MFA) was created by the state legislature in 1975, its mission was to provide affordable mortgage loans to low-income New Mexico families. Fast forward to nearly 50 years later — MFA offers much more than mortgages, including various home rehabilitation programs to help New Mexicans stay in safe,

New Mexico Mortgage Finance Authority’s Several Home Rehabilitation Programs

Keeping Homes Affordable and Boosting Communities

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Washington Update: The“Other” CRA: A Lesser-Known Tool in the Policy Toolbox

However the elections shake out in November, ABA’s focus will remain unchanged: supporting a policy environment that supports America’s banks in their mission to supply credit to their customers, clients and communities. The banking agencies are tasked with writing and implementing regulations for the laws enacted by Congress, but they do not have free reign.

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Executive Vice President’s Message: Industry Insights

Corporate Transparency Act The Corporate Transparency Act (signed into law on January 1, 2021) expanded anti-money laundering laws and created new reporting requirements for certain companies doing business in the United States. Beginning in 2024, many small businesses are required to report information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) in

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