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The NBA BankPAC Committee is excited to report that NBA BankPAC has had an exceptional year! The fundraising goal of $160,000 was exceeded with receipts totaling $173,785. Nebraska banks and bankers contributed $122,934 to NBA State BankPAC and $50,851 to NBA Federal BankPAC.

It takes a highly responsive NBA membership to achieve this goal. Whether you're an NBA member who contributed to Nebraska BankPAC for the first time or has contributed for the past several years, you all own a share of the success and should take pride in our association. Your BankPAC donation is an investment for the future of Nebraska's banking industry.

The NBA BankPAC Committee ensures that all contributions go to the campaigns of candidates who are most likely to support a strong and competitive banking system. During this year's 2024 election cycle, the NBA BankPAC is projected to contribute over $100,000 to candidates.

We appreciate and acknowledge all who supported NBA BankPAC on the year-end honor roll.

Learn More About NBA BankPAC

The NBA Nominating Committee is seeking nominations for bankers interested in serving on the board of directors and for the position of chair-elect.

Nominees should have involvement in NBA committees, NBA BankPAC contributions, community activities and the support of their banks.

Board nominees should have the respect of their peers and the credibility to represent the entire banking sector. While not required, previous service on the board of directors is highly desirable for the chair-elect nominee.

• NBA Chair and Chair-Elect Responsibilities
• NBA Board of Directors' Responsibilities

Nominations are due Feb. 23. The nominating committee will meet on March 21 to review nominations. Board members and the chair-elect will be elected by a vote of the association's membership at the annual meeting on May 9, during the 2024 NBA Annual Convention.

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

The Nebraska Legislature began its 2024 session today. Bankers need to be actively engaged to ensure the success of pro-banking and pro-business legislation.

Stay informed by subscribing to the NBA Legislative Update. Delivered every Friday during the Legislative session, this newsletter provides a comprehensive recap of the week in the Nebraska Unicameral, focusing on issues impacting the banking industry.

The NBA Government Relations team will also host members-only virtual legislative updates monthly throughout the legislative session. The next virtual update is scheduled for Jan. 29 at 9:00 a.m. CT.

The NBA State Government Relations Forum is an opportunity for bankers to have one-on-one conversations with their state senator and hear from Gov. Jim Pillen and the Nebraska Department of Banking and Finance Director Kelly Lammers. The forum is Jan. 25 in Lincoln.

Subscribe to Legislative Update

Register for the Virtual Legislative Updates

Register for the State Government Relations Forum

Legislative, Policy and Regulatory Updates

Compliance Update - Dec. 22, 2023

• Legal Bank Holidays: 2024 Schedule

Associations Seek Information on FHFA Credit Score Changes

In a letter to the Federal Housing Finance Agency (FHFA) Director Sandra Thompson, a group of financial and housing industry associations urged the agency to disclose the analyses supporting its final rule related to credit score modernization. The rule involves replacing the FICO credit score model used by Fannie Mae and Freddie Mac with the FICO 10T and VantageScore 4.0 credit score models. The letter also emphasized the need for transparency regarding the decision to shift from requiring three credit reports to two for single-family loans.

Read the Letter

FinCEN Begins Beneficial Ownership Information Data Collection

The Financial Crimes Enforcement Network (FinCEN) has begun accepting beneficial ownership information reports as mandated by the Corporate Transparency Act. A final rule issued last month implements a phased approach to access, starting with a pilot program for federal agencies in 2024, with financial institutions gaining direct access in the final phase. The final rule also permits banks to use the information for compliance purposes under the Bank Secrecy Act.

Learn More About Reporting

Read the Final Rule

CRA Small Bank Definitions Updated

The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced the asset-size threshold under the Community Reinvestment Act (CRA). A small bank is defined as one with assets less than $1.564 billion as of Dec. 31 in either of the preceding two calendar years. An intermediate small bank has assets of at least $391 million as of Dec. 31 in both of the preceding two calendar years and less than $1.564 billion as of Dec. 31 in either of the prior two calendar years. These updated thresholds became effective on Jan. 1, 2024.

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Biden Vetoes Resolution to Overturn Section 1071 Rule

President Biden vetoed a Senate joint resolution to overturn the Consumer Financial Protection Bureau's (CFPB) final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses.

Learn More

Dec. 20 - Jan. 2

Email your news, press releases, photos and/or newspaper articles to be published in Banks & Bankers. Send content to [email protected].

Bankers are invited to a summit focused on addressing obstacles to workforce housing in Nebraska. Rep. Mike Flood, Federal Housing Finance Agency Director Sandra Thompson and Department of Housing and Urban Development Omaha Field Office Director Kathryn Amaya will discuss federal programs and pathways to sustainable housing solutions. The summit is on Jan. 23 at 10:00 a.m. CT at Central Community College in Columbus.

Register

With BankTalentHQ's current promotion for NBA members, you can save 15% off a single 60-day job posting package. Use the code SAVE15BTHQ at checkout to access the savings.

The platform is a hub for both banks and skilled individuals seeking career opportunities in banking. By posting your job openings on BTHQ, you gain access to a network of qualified candidates eager to join your banking team.

Learn More