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Last week, the NBA, the Nebraska Independent Community Bankers and the Nebraska Credit Union League sent a joint letter to Kansas City Federal Reserve President Jeff Schmid expressing opposition to the Federal Reserve System's proposed rule to tighten debit card price caps in Regulation II.

The organizations raised concerns about the potential impact on consumers, noting that it would likely increase expenses for consumers, with no assurance that merchants will reciprocate by lowering their prices. Price caps have led to unequal and disproportionate access and inclusion impacts, particularly affecting economically disadvantaged or marginalized communities and individuals in or retired from military service. The proposed rule is likely to worsen the negative consequences already present in the existing regulation. "The proposed rule will result in many banks and credit unions having to increase consumer fees for checking accounts. The proposal will also lead to more consolidations as financial institutions approaching $10 billion in assets will incur millions of dollars in reduced first-year revenues," the organizations said.

Read the Letter

The Leaders in Financial Education (LiFE) Awards recognize NBA-member banks that provide financial education in the communities they serve.

The LiFE Awards include the following categories:

LiFE Honors List

Financial literacy efforts take many forms, from operating an in-school bank, hosting an intern or job shadow, sharing financial education information on social media and more. The LiFE Honors List recognizes the many ways banks improve the financial health of their communities.

Bank Innovation Award

This award is presented to a bank that implemented an innovative way to improve financial literacy in their community.

Presentation Recognition

One bank from each of the three deposit size categories will receive this award. This will be based on the number of Get Smart About Credit, Teach Children to Save and other financial literacy presentations a bank gives.

Career Award

This award is presented to a banker who has been a valuable asset in leading the bank's financial literacy efforts for at least five years. A bank president, CEO or banker in a management position must be the one who nominates a banker for the Career Award. Individuals may win this award only once.

Applications are due Feb. 28. Award recipients will be recognized on May 10 during the Awards Breakfast at the NBA Annual Convention in La Vista.

For more information, contact Laurie Johnson at the NBA at [email protected] or 402-474-1555.

Legislative, Policy and Regulatory Updates

NBA, State Associations Urge Withdrawal of Capital Standards

In a letter to federal banking regulators, the NBA and 50 other state bankers associations said the proposed Basel III "endgame" capital regulations would make it harder for the banking industry to offer credit and other financial services. The groups noted the lack of consideration given to the potential economic impacts of the proposal on bank customers and the economy. "The risks to the country's ongoing economic prosperity far outweigh any benefits of the proposal, which at best are uncertain and undemonstrated," they said.

Read the Letter

CFPB Proposes Limits on Overdraft Fees Charged by Large Banks

The Consumer Financial Protection Bureau (CFPB) introduced a proposed rule that would cap the maximum overdraft fee at $14 for banks with assets exceeding $10 billion. The proposal allows banks to impose fees to offset expenses and losses related to offering overdrafts. These fees could either be a 'breakeven' amount determined by the bank's internal calculation or adhere to a benchmark fee. 

Read the Proposed Rule

Flood Joins House AI Working Group

Rep. Mike Flood was named to the House Financial Services Committee’s new Working Group on Artificial Intelligence (AI). The group will examine the influence of AI on the financial services and housing sectors, including the evolution of new products and services, the potential impact of AI on the workforce in the financial services industry and regulations governing AI usage.

Learn More

Jan. 10 - 16

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U.S. Department of Agriculture programs are available to help farmers and ranchers who experienced livestock deaths, increased feed needs or other impacts as a result of the recent winter storms. 

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