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Thumbprint Pads Price Increase

The NBA recently received notice from the supplier that the cost of thumbprint pads has increased. Given this change, our new price-per-pad is $6.20 for members, and $7.20 for non-members, plus applicable tax and shipping costs. These are flat rates; there is no longer a tiered pricing structure based on quantity ordered.

Participation in the Thumbprint Signature Program is a simple, low-cost way to deter identity theft and check fraud. Banks participating in the program ask non-customers requesting to cash checks to apply a thumbprint on the check, in addition to examining the standard forms of identification. The thumbprint serves as a positive ID for use by law enforcement if the check is fraudulent. The primary benefit of the program is that it serves as a deterrent. Those seeking to commit check fraud are unlikely to put their thumbprints on bogus checks.

Legislative, Policy & Regulatory Updates

Compliance Update - August 4, 2023

• Call Report - Estimated Uninsured Deposits Reporting

NBA, State Bankers Associations Seek 1071 Implementation Delay

The NBA and 49 other state bankers associations recently joined in support of a request by the Texas Bankers Association (TBA) and the American Bankers Association (ABA) to extend a court-ordered delay of its Section 1071 rule to apply to all FDIC-insured banks. "We agree that extending the relief already provided to numerous banks nationwide would be prudent and ameliorate confusion," the associations said.

A federal judge granted the delay only to member banks of the ABA and TBA. The relief will remain in effect while the Supreme Court hears the constitutional challenge to the CFPB's funding structure in CFPB v. Community Financial Services Association of America. Arguments in the case are scheduled for October.

The ruling could be issued in the first half of 2024, leading to a potential delay in compliance for ABA and TBA member banks, possibly ranging from six to eight months, irrespective of the case's outcome, the ABA and TBA said in a recent webinar. In order to be covered by the delay, banks would need to be members in good standing of the ABA or TBA when the Supreme Court case is decided.

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Regulators Update Liquidity Risk, Contingency Funding Plan Guidance

The Federal Financial Institutions Examination Council (FFIEC) updated the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual. The changes cover subjects like correspondent accounts for foreign bank connections to Iranian-linked entities.

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Our next intern spotlight is Andruw Hiller. Ever since a loan officer visited his high school and explained his role at the bank, Andruw has been interested in banking. This summer he interned at South Central State Bank in Blue Hill. He is a senior Agribusiness major at the University of Nebraska-Lincoln and graduated from Blue Hill High School.

He said the most important thing he learned through his internship is how to better communicate with people. "There are a lot of customers that enter the bank, and you have to communicate with them, so learning how to do that proficiently will always be beneficial," Andruw said.

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The NBA wants to spotlight your bank’s interns! Ask them to complete this form to be featured.

Scenes of Nebraska Calendars

Don't forget to order the 2024 Scenes of Nebraska Calendars! Sharing these calendars with your customers (or using them in your own office) is a great way to support the bankers and their family members who submitted photos. The final day to order is Sept. 3.

Husker Harvest Days Admission & Lunch Tickets

Only three weeks left to order Husker Harvest Days tickets! The NBA has admission tickets at a discounted rate of $9 - a savings of $6 off of the gate price. Lunch tickets are also available for $15. Place your order by Aug. 31 to ensure enough time for payment processing and mailing the tickets.

Husker Football & Volleyball Schedule Cards

Can you feel the Husker pride building? The NBA has the annual Husker sports schedule cards available to our member banks and associate members in bundles of 250. This year they once again feature both football and volleyball game dates.

Contact Laurie Johnson at the NBA at [email protected] or 402-474-1555 with questions on any of these items.

Review Alliance

Did you know that wire fees must be separately disclosed as line-item transactions on periodic statements?

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Compliance Alliance

Q: Please advise if there is regulatory guidance as to when an appraisal "review" is required.

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The ABA has launched an online Check Fraud Claim Directory to aid banks in resolving check fraud claims for effectively. The Directory offers contact details for filing check warranty breach claims with other financial institutions. It allows searches based on bank name, location, or FDIC number to facilitate finding the appropriate contact for claim resolution.

Accessing the directory requires banks to provide accurate contact information and any necessary claim documentation details. The directory is open to both ABA members and non-members.

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