Pub. 13 2016 Issue 4

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 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. 2016-2017 NMBA Board of Directors President Jay Jenkins Carlsbad National Bank 202 W. Stevens Carlsbad, NM 88220 President-Elect Mike Lowrimore Bank of the West 500 Marquette NW, 14th Fl Albuquerque, NM 87102 Secretary/Treasurer Ron Wiser Bank of the Southwest PO Box 1638 Roswell, NM 87202-1108 Immediate Past President Paul DiPaola US Bank PO Box 3686 Albuquerque, NM 87190 Executive Vice President John W. Anderson New Mexico Bankers Association 316 Osuna NE, Suite 502 Albuquerque, NM 87107 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 Michelle Coons 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 Term Expiring 2018 Sheila Mathews Four Corners Community Bank 500 W. Main Suite 101 Farmington, NM 87401 Steve Muell First National Bank 414 10th St Alamogordo, NM 88310 Ronald L. Schmeits International Bank PO Drawer 1028 Raton, NM 87740-1028 ISSUE42016/2017 PAGE 6 President’sMessage– Jay Jenkins TheStudent Loan DebtCrisis PAGE 17 PAGE 13 Why the Impact ofMMFReform is Likely toBenefit CommunityBanks –GlennMartin Repossess Consumer Automobiles? YouCouldBeAt RiskForACostly ClassAc�on Lawsuit. –Adam Cornett PAGE 11 PhotoCredit: JimRenfrow 6 PRESIDENT'S MESSAGE By Jay Jenkins, New Mexico Bankers Association President, Carlsbad National Bank 8 EXECUTIVE VICE PRESIDENT’S MESSAGE By John Anderson, Executive Vice President, New Mexico Bankers Association 10 EDUCATING CONSUMERS HELPS DEMONSTRATES BANKING’S VALUE By Rob Nichols, President and CEO, American Bankers Association 11 THE STUDENT LOAN DEBT CRISIS By Mark Anderson, Legal and Legislative Assistant, New Mexico Bankers Association 13 WHY THE IMPACT OF MMF REFORM IS LIKELY TO BENEFIT COMMUNITY BANKS By Glenn Martin, Regional Director, Promontory Interfinancial Network 16 COUNSELOR’S CORNER: GOOD FOR GOOSE AND GANDER: MUTUALITY HELPS PRESERVE PROTECTIONS By Doug Vadnais, A Modrall Sperling Shareholder 17 THE STATE OF COMPLIANCE UNDER TRUMP By Victoria Stephen, Compliance Alliance 18 REPOSSESS CONSUMER AUTOMOBILES? YOU COULD BE AT RISK FOR A COSTLY CLASS ACTION LAWSUIT. By Adam Cornett, Senior Attorney, ABA Insurance Services 19 BANKS AND SOCIAL MEDIA - DEVELOPING A POLICY By Susan Morgan, The newsLINK Group 21 BANKERS ON THE MOVE 22 BANK NEWS