In the News The UBA Weighs In

FOX 13 NEWS, 2/4/2009 Capitol Purchase Program is NOT a Bailout! Given the government's $900 million stimulus, Utah financial institutions say that despite the amount dolled out to them, it's not a bailout. Howard Headlee, president of the Utah Bankers Association, says that Utah's banks don't need a bailout and that Utah's economy, up until now, has been strong. KSL RADIO AFTERNOON NEWS, 10/31/2008 KSL RADIO AFTERNOON NEWS, 10/28/2008 UBA President Comments on Zions Bank's participation in Treasury Departments Capital Purchase Plan Zions Bank is accepting up to $1.4B in capital through a program created as part of the government’s bailout plan.  SALT LAKE TRIBUNE, 10/08/2008 Utah Bankers Call FDIC Fee Increase a Small Price to Pay 10/08/2008 - Utah banks don't expect to see much of an impact from a proposal by the Federal Deposit Insurance Corp. to double fees that banks and thrifts pay into the fund to insure deposits.  FOX TV NEWS, 10/7/2008 Utah College Enrollment Up The state of the economy is not affecting college enrollment numbrs. College enrollment has increased 8.5% since fall of 2007. SALT LAKE TRIBUNE, 10/04/2008 Q and A: What now with the $700B financial bailout?  To what extent will this benefit banks, or will more fail? Many banks, especially local ones, don't have mortgage-backed securities in their portfolios and as a result won't directly benefit from the bailout by being able to get them off their books.  DESERET NEWS, 10/4/2008 How the Bailout Will Affect Utahns Depends on Banks How will Congress' $700 billion financial rescue and $149 billion in tax cuts affect Utah consumers? Depends on what happens at the top of the lending chain. DESERET NEWS, 10/2/2008 Credit: How Will the Crisis Affect Utah Consumers? You hear it, read about it, and probably are talking about it: credit markets freezing up, the fall of Wall Street firms, bank failures, stock market nose dives and a government proposal to spend $700 billion in taxpayer money to right teetering financial companies. FOX NEWS, 9/29/2008 (Video Clip) Despite Wall St. Woes, Utah Banks are Thought Safe Despite large investment banks going under and Wall Street suffering dramatic dips, investors are keeping their money in commercial banks. Commercial banks are insured by the federal government. KSL NEWS, 9/29/2008 2 of 3 Utah Representatives Vote Down Bailout The U.S. House shot down an emergency $700 billion financial rescue package today. Two of Utah's three House members voted against it.   SALT LAKE TRIBUNE, 9/29/2008 Utah Banks Solid Amid Cash Crisis Despite the crisis facing the nation's financial industry, Utah's banks generally are sound, experts say, though the balance sheets of a few are fraying. Granted, in today's turbulent environment there are no guarantees, but three ratings services say only a handful of the 70 institutions in Utah are struggling, with the rest carrying on with business as usual.    DESERET NEWS, 9/27/2008 Business as Usual for WaMu Customers Utah is home to 33 Chase branches and 18 WaMu branches, said Howard Headlee, president of the Utah Bankers Association. "Combining those are not going to create any kind of competitive issue," Headlee said.   KSL NOON NEWS, 9/26/2008 (mp3 file) WAMU Sold to JPMorgan Chase Impact to local customers of WAMU will be minimal.   SALT LAKE TRIBUNE, 9/22/08 Goldman, Morgan Changes Will Affect Utah Banks Two of Utah's major financial operations likely will undergo fundamental changes that could affect hundreds of workers here, with the announcement that Morgan Stanley and Goldman Sachs will become financial holding companies.   DESERET NEWS, 9/20/2008 Utahns: The State Could See Thousands of Jobs Eliminated Howard Headlee, president of the Utah Bankers Association, said he would be surprised to see layoffs by local banks, especially if the government's plan relieves financial companies of their bad debt.   SALT LAKE TRIBUNE, 9/16/2008 Will Shake-up of Lehman, Merrill Impact Local Banking, Small Businesses? The fates of several hundred employees of Lehman Brothers and Merrill Lynch in Utah are uncertain, but the shake-up of two of the nation's financial giants also may affect small businesses and Utahns struggling to find affordable housing.   KSL NEWS 10:00 p.m., 9/15/2008 Utahns Keep Close Eye on Financial Shake-up It was a treacherous day on Wall Street. The Dow plunged more than 504 points for the sixth-largest point drop ever and the worst showing since stocks lost 508 points in the October 1987 crash.   DESERET NEWS, 7/22/2008 In These Tough Times, Banking System Still Sound Capital, as Utah Bankers Association president Howard Headlee explains, is "the rock on which a bank is built."   KSL NEWS RADIO, 7/15/2008 Utah Banking Official Weighs in on Run on IndyMac Click here to listen (mp3 format) The run on California's IndyMac bank may be a case where investors are ignoring strong fundamentals and only listening to the jittery headlines. The president of the Utah Banking Association says banks have historically high levels of capital right now, enough money in reserve against outstanding loans. UBA Launches the Home Sweet Affordable Home Guide for First Time Homebuyers It's a great time for first time homebuyers to get into a house.

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