Pub. 12 2015 Issue 3

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G N E W M E X I C O R E A L I Z E D R E A M S 4 2015-2016 NMBA Board of Directors President Paul DiPaola US Bank PO Box 3686 Albuquerque, NM 87190 President-Elect Jay Jenkins Carlsbad National Bank 202 W. Stevens Carlsbad, NM 88220 Secretary/Treasurer Ron Wiser Bank of the Southwest PO Box 1638 Roswell, NM 87202-1108 Immediate Past President Ken Clayton Western Bank PO Drawer 500 Artesia, NM 88221-0500 Executive Vice President John W. Anderson New Mexico Bankers Association 316 Osuna NE, Suite 502 Albuquerque, NM 87107 Term Expiring 2016 John Dowling Pinnacle Bank PO Box 1729 Gallup, NM 87305-1729 Mike Lowrimore Bank of the West 500 Marquette NW, 14th Fl Albuquerque, NM 87102 Sheila Mathews Four Corners Community Bank 500 W. Main Suite 101 Farmington, NM 87401 Term Expiring 2017 John Gulas Los Alamos National Bank PO Box 60 Los Alamos, NM 87544-0060 Jon Hitchcock Pioneer Bank PO Box 130 Roswell, NM 88202-0130 David Hockmuth Wells Fargo Bank 200 Lomas Blvd NW Albuquerque, NM 87102 Term Expiring 2018 John C. Asbury First National 2101 Mountain Rd NW, #A Albuquerque, NM 87104 Greg Leyendecker New Mexico Bank & Trust PO Box 1048 Albuquerque, NM 87103 Jason Wyatt Western Commerce Bank 212 North Canal St. Carlsbad, NM 88220 The NewMexico Bankers Association is proud to present THE NEW MEXICO BANKERS DIGEST as a benefit of membership in the Association. No member dues were used in the publishing of this news magazine. All publishing costs were borne by advertising sales. Purchase of any products or services from paid advertisements within this magazine are the sole responsibility of the consumer. The statements and opinions expressed herein are those of the individual authors and do not necessarily represent the views of NEWMEXICO BANKERS ASSOCIATION, or its publisher The newsLINK Group, LLC. Any legal advice should be regarded as general information. It is strongly recommended that one contact an attorney for counsel regarding specific circumstances. Likewise, the appearance of advertisers does not constitute an endorsement of the products or services featured by The newsLINK Group, LLC. Our Mission The mission of the New Mexico Bankers Association (NMBA) is to serve member bank needs by acting as New Mexico banking’s representative to government, the public, and the industry; pro- viding resources, education and information to enhance the opportunities for success in banking; promoting unity within the industry on common issues; and seeking to improve the regulatory climate to the end that banks can profitably compete in the providing of financial and related products and services. FALL2015 PAGE 6 PAGE 10 PAGE 20 President’sMessage–PaulDiPaola NACHAAdoptsRules SupportingSameDayACH ProcessingCapability WASHINGTONUPDATE: TheDangers of aCaptive Regulator PhotoofDunnBridge inTaos,NewMexicoby JamesRenfrow 6 PRESIDENT'S MESSAGE By Paul DiPaola, NMBA President, U.S. Bank, Albuquerque 8 EXECUTIVE VICE PRESIDENT’S MESSAGE By John Anderson, Executive Vice President, NMBA 10 WASHINGTON UPDATE: THE DANGERS OF A CAPTIVE REGULATOR By Gov. Frank Keating, President and CEO, American Bankers Association 12 MARIJUANA: THE COLORADO EXPERIENCE AND MORE By Mark Anderson, Legislative Assistant, NMBA 14 COUNSELOR’S CORNER: DOESN’T MY BUSINESS JUDGMENT RULE? BANK DIRECTOR AND OFFICER LIABILITY ARISING FROM LOAN UNDERWRITING AND ADMINISTRATION By Debbie Ramirez, Shareholder, Modrall Sperling Law Firm 16 LIEN TIMES FOR CONSTRUCTION LOAN TITLE INSURANCE (CHANGES TO CONSTRUCTION LOAN AND MECHANICS LIEN COVERAGE) By Gordon S. Little, Esq. and Stephen J. Rhoades, Esq. 20 NACHA ADOPTS RULES SUPPORTING SAME DAY ACH PROCESSING CAPABILITY By William (Bill) Schoch, President and CEO, Western Payments Alliance (WesPay) 22 SE CURITY OFFICER’S BY-WORD: RECONCILING ACCOUNTS PREVENTS EMBEZZLEMENT AND CORRECTS ERRORS By Charles M. Towle, KBS President 24 BANKERS ON THE MOVE 25 BANK NEWS