GreenState Credit Union Proposed Acquisition of Premier Bank Terminated

GreenState Credit Union President and CEO Jeff Disterhoft recently announced that its board of directors is terminating the proposed acquisition of Premier Bank.

In May of 2021, Premier Bank filed an application to sell substantially all of its assets to GreenState. At the direction of the NBA Board of Directors, the NBA objected to the sale. Late last year the Nebraska Department of Banking and Finance denied the application. Premier appealed the Department's decision to the Lancaster County District Court which recently affirmed the Department's Order. The time to appeal the District Court decision expired on Monday, Aug. 29, effectively blocking the proposed acquisition.

The NBA will continue to fight any expansion efforts by the tax-subsidized credit union industry.

Legislative, Policy & Regulatory Updates

FedNow Testing to Begin in September, Launching Mid-2023

The Federal Reserve announced its plans to launch its real-time payments service, FedNow, between May and July of next year. More than 120 organizations are part of a pilot program that will begin technical testing next month.

Learn More

CFPB Releases HMDA Data Tool

The Consumer Financial Protection Bureau’s (CFPB) new Quarterly Graphs tool provides Home Mortgage Disclosure Act (HMDA) data for financial institutions that file quarterly. The tool also includes graphs on mortgage market trends.

View the Tool

ABA, BPI to OCC: Don’t Rescind Crypto Interpretive Letters

In a letter to Acting Comptroller Michael Hsu, the American Bankers Association (ABA) and the Bank Policy Institute (BPI) said withdrawing the Office of the Comptroller of the Currency’s (OCC’s) 2020 and 2021 interpretive letters regarding cryptocurrency activities would not benefit consumers or investors. Four U.S. Senators had requested the letters be rescinded saying the OCC’s crypto actions “may have exposed the banking system to unnecessary risk.”

The associations said the appropriate way to address the risks noted in the Senators’ letter is through “appropriate regulation of nonbank crypto firms and products that are currently largely unregulated.”

Read the Letter

Upcoming Events

Fall Group Meetings Return

NBA officers and staff look forward to seeing members across the state at the Fall Group Meetings Sept. 27-29. Join us in Ogallala, Kearney, Norfolk, Omaha or Lincoln for an update on issues impacting your bank.

Sept. 12-13 – Real Estate Lending Compliance Conference, Lincoln (rescheduled)
Sept. 19-20 – IRA Essentials Virtual Workshop
Sept. 21-22 – Advanced IRA Virtual Workshop
Sept. 27-29 – Fall Group Meetings (multiple locations - see NBA Event Calendar)
Oct. 4 – Essential Teller Issues Virtual Seminar
Oct. 19-20 – Women in Banking Conference, Omaha
Oct. 28 – Regulatory Issues Summit, Lincoln
Nov. 3-4 – Bank Investment Conference, Lincoln
Nov. 10 – Cybersecurity Virtual Workshop (rescheduled from July)
Nov. 15 – Bank Directors Training Workshop, Kearney
Nov. 16 – Bank Directors Training Workshop, Lincoln

To see the complete event schedule, visit the NBA Event Calendar.

There are also many upcoming opportunities for online seminars, co-sponsored by the NBA and the Graduate School of Banking-Wisconsin. For more information, view the schedules by date: September | October | November/December.

Banks & Bankers

August 24 - 30

Email your news, press releases, photos and/or newspaper articles to be published in Banks & Bankers. Send content to news@nebankers.org.

NBA Products: Deadline for Calendars Soon, Sports Cards Still Available

Calendars

The final deadline to order the 2023 NBA Scenes of Nebraska calendar is Sept. 3.

Order Calendars

Husker Sports Cards

With the 2022 fall sports season underway, make sure you have the football and volleyball schedules to share with your customers!

Request Cards

Contact Laurie Johnson at the NBA at laurie.johnson@nebankers.org or 402-474-1555 with questions.

Review & Compliance Alliance: Question of the Week

Review Alliance

Did you know that it is a best practice to disclose more than one reason for denial when issuing a Notice of Adverse Action?

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Compliance Alliance

Q: Would it be a requirement of any regulation for an institution to get a written cancellation request from a borrower to cancel automatic loan payments from a deposit account? We hold the Note and the account. Do we need the request to be in writing or are we required to accept a verbal request as well as written?

Learn the Answer