OFFICIAL PUBLICATION OF THE COLORADO BANKERS ASSOCIATION

Pub. 13 2023-2024 Issue 5

Effective Communication Begins With Speaking the Same Language

In today’s diverse and multi-generational workplace, the way leaders communicate can significantly impact their effectiveness and the cohesion of their teams. One aspect of communication that is often overlooked is the potential disconnect that can arise from the use of language, particularly when there is a significant age difference between leaders and their team members. This article explores the extent to which language and generational differences might affect leadership effectiveness and team dynamics.

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The True Cost of Fraud

Financial institutions have been inundated with fraud losses for the past several years, and the COVID-19 pandemic and the overall downturn in the economy have only made things worse. The Federal Bureau of Investigations (FBI) reports that natural disasters have historically brought fraudsters out of the woodwork, pouncing on a pool of vulnerable victims: the more catastrophic the event, the more active the fraudsters. The COVID-19 pandemic was arguably the worst worldwide disaster in decades, and an increase in fraud has been detected on a wide scale.

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More SECURE 2.0 Provisions Take Effect in 2024

The SECURE Act of 2022 (SECURE 2.0) made many changes to both individual retirement accounts (IRAs) and retirement plans sponsored by employers. But, like comparable past legislation, not all SECURE 2.0 provisions took effect immediately. One reason is the federal tax impact of some provisions. Tax benefits to individuals and businesses may have the effect of reducing federal tax revenue, which lawmakers may choose to “pay for” over time by delaying the effective date of certain provisions. The following are important provisions of SECURE 2.0 that did not take effect immediately but became effective in 2024.

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Transportation Industry

The transportation industry has been heavily impacted since 2020, and it seems that some struggles aren’t yet ready to trend positive. High fuel prices, the cost and availability of parts, increasing pressure to switch to electric vehicles (EV), fewer people wanting a career in transportation and lack of resources to train those who do are causing stress on the industry.

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“An Ill Wind That Blows No Good:”

Economic Headwinds and Asset and Liability Management

Financial institutions are facing headwinds on account of burgeoning non-performing assets, corporate malfeasance, a slowdown in the economy and a mismatch between the maturity profile of assets and liabilities. Severe liquidity strains caused the failure of Silicon Valley Bank, Signature Bank and First Republic Bank. Yet despite weaker economic conditions, sharply higher interest rates, high inflation, financial market stress and concerns over a potential recession, the banking industry demonstrated resilience. How?

“An Ill Wind That Blows No Good:”

Economic Headwinds and Asset and Liability Management

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