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“Every customer should know that their bank is prepared in the event of a crisis, that their deposits are secure, and that they will have continued access to their funds,” CBA president Jennifer Waller said in a media advisory on Wednesday. “Banks have an abundance of money to distribute.”
Consumers in Colorado aren’t robbing banks and ATMs, according to CBA spokeswoman Amanda Averch.
However, some New York City banks were almost depleted of $100 bills last week, but not smaller denominations. The CBA is attempting to anticipate a greater desire to accumulate cash in hand as the stock market plummets and movements become more limited by urging people to refrain from making massive and wasteful withdrawals now.
“As the nation’s central bank, the Federal Reserve is required by law to have sufficient currency reserves on hand to meet the needs of financial institutions. The Federal Reserve Bank of Kansas City’s Denver Branch Executive, Nick Sly, said, “This is a vital way for us to continue to help both local communities and the national economy.”
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Later that day, CBA President Jenifer Waller told the CBA Government Affairs Committee that the session is expected to be filled with challenges for the business community, including banks. CBA will continue to speak out against legislation that would create a state-owned bank, as well as working to protect the economy by ensuring that policies like family medical leave insurance and data protection are fair.
“Following a turbulent legislative session in 2019, we are hopeful that legislative leadership can lead members to engage in more thoughtful stakeholder engagement in order to produce more bipartisan solutions.” Members from both sides are now trying to find ways to increase transportation funding and balance the state budget. The banking industry will be deeply engaged with the plethora of legislation affecting companies that we anticipate in 2020, and will continue to support rewards over mandates and market-based solutions over government initiatives,” said Melanie Layton, CBA’s lead lobbyist at Colorado Legislative Solutions. “We appreciate the legislature looking at retirement savings options for private-sector workers, and we anticipate a public-private partnership as a final result.” Furthermore, the leg
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The Independent Bankers of Colorado (IBC) is the state’s exclusive voice for community banks. The IBC represents banks of all sizes and charter types, and it is exclusively committed to serving the interests of community banking and the communities and consumers it serves.
Community banks help families buy homes and other products, finance education, and create financial security by helping small businesses, farmers, and using local dollars to help families buy homes and other goods, finance college, and build financial security.
Community bankers are our colleagues, neighbors, and an important part of any community.
IBC believes in equal competition for all financial institutions, the separation of banking and trade, and a sustainable financial structure to avoid economic and financial-services resource concentration.
The IBC works to protect the interests of Colorado’s community banks at both the state and federal levels through strong leadership and aggressive advocacy. Throughout the Capitol, a single, powerful, unified voice could be heard. The IBC is dedicated to upholding the highest ethical standards in community banking and to providing community bankers with services tailored to their needs.
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Joanne Sherwood, who joined Citywide Banks as president and CEO in January 2019, was unanimously elected Chair of the Colorado Bankers Association on May 31, 2019. (CBA). She is just the second woman to lead CBA in the organization’s long history, and the first in 20 years. Sherwood will direct the organization for a year.
CBA serves over 95% of Colorado’s 135 banks, which have a combined $146 billion in assets, 1,492 branches, and 21,944 banking professionals. By building better banks, the organization aims to strengthen the economy and assist Coloradans in realizing their dreams.
Sherwood said, “I am honored to take over as Chair.” “The CBA is a well-respected company that not only supports and resources member banks, but also acts as a strong advocate for our customers. As an industry, we have a responsibility to represent and help our community’s customers and businesses, and the CBA has been a valuable partner in this effort.”