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Strong Start for NBA BankPAC Fundraising

The NBA BankPAC Committee is pleased to report that PAC fundraising efforts for 2023 are well underway and showing impressive results. As of July 10, institutions have raised $75,051 ($107,000 goal) for the state NBA BankPAC and $31,330 ($53,000 goal) for the federal NBA BankPAC, totaling $106,381 collected! We are over halfway there! Keep in mind, 2023 is not even an election year. The NBA acknowledges the contributions received so far this year through our Honor Roll.

If you have not been an annual contributor to NBA BankPAC, we hope you will consider joining the growing number of NBA banks who consistently support our government relations efforts by raising PAC monies from officers, directors and staff for NBA BankPAC.

The banking industry faces several challenges, including: regulation relief; environmental, social and governance legislation; credit union growth and the expansion of Farm Credit into traditional bank markets. Working through these issues requires not only effective grassroots lobbying but also strong financial support of the political process.

For more information on how to conduct an effective NBA BankPAC campaign in your bank, contact Jennifer Heaton at the NBA at [email protected] or (402) 474-1555.

The NBA is now accepting orders for Husker Harvest Days admission and lunch tickets. Admission tickets purchased through the NBA are available at a discounted rate of $9. The $15 lunch tickets can be used to purchase a meal at one of the five food stands at the event.

You can order online and pay with a credit card or receive an invoice. Tickets must be paid for before they will be mailed. Orders must be received by Aug. 31 to allow sufficient time for processing and mailing.

For additional information or questions, contact Laurie Johnson at the NBA at [email protected] or (402) 747-1555.

Legislative, Policy & Regulatory Updates

Ask Congress to Oppose Credit Card Routing Bill

The Credit Card Competition Act would require credit card issuers to add a second network to customers' cards. The legislation would price many banks out of the credit card market. As the NBA and other state banking associations noted in a letter to Congress, the legislation would result in "...fewer choices for consumers, increased threats to consumer data and privacy, weakened local banks and credit unions, and the disappearance of card rewards programs that families of all income levels use to stretch their budgets."

Bankers are urged to contact their lawmakers and ask them to oppose the Credit Card Competition Act.

Take Action

Three SBA SOPs to Take Effect in August

Banks are reminded that three new Small Business Administration (SBA) Standard Operating Procedures (SOPs) will be implemented on Aug. 1. SOP 50 10 7 updates policies related to SBA 7(a) and 504 loans. Training is available on complying with the SOP. SOP 50 57 3 establishes the policies and procedures that apply to the administration of 7(a) loans that have been fully disbursed and are in regular servicing or liquidation status. SOP 50 56 1 defines the criteria for becoming an SBA Lender; types of delegated authority; a brief overview of how the SBA conducts oversight of SBA Lenders; processes for loan reporting, Secondary Market transactions, loan transfers and securitization.

Barr Proposes Expanding Capital Requirements

In a speech earlier this week, Federal Reserve Vice Chairman for Supervision Michael Barr laid out potential changes to bank capital requirements. Barr's recommendations include subjecting banks with more than $100 billion to bank capital requirement regulations similar to those currently imposed on banks with $700 billion in assets.

Read Barr's Remarks

Basel Committee Proposes Changes to Banking Supervision Core Principles

The Basel Committee on Banking Supervision issued a consultative document updating its core principles for effective banking supervision. The proposed changes reflect developments in financial risk, operational resilience, systemic risk and macroprudential aspects of supervision; and new risks. Comments on the proposal are due Oct. 6.

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Upcoming Graduate School of Banking Opportunities

The Graduate School of Banking-Wisconsin (GSB) and the NBA are co-sponsoring two schools to be held in September and October: Sales and Marketing and Bank Technology Security. See the full schedule of upcoming GSB events here.

Our next intern spotlight is Alexis Ferris. She graduated from Central City High School and is a senior Agribusiness Banking & Finance major at the University of Nebraska-Lincoln. This summer, she is completing an internship at Cornerstone Bank in York.

Alexis said the most important thing she has learned through her bank internship is how to adapt to new teams and working environments. The networking opportunities she has experienced have also helped solidify her passion for rural banking in Nebraska. She said, "I have enjoyed my time in all departments and plan to keep pursuing my passion for rural banking in Nebraska, wherever that happens to lead me.

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

U.S. Rep. Mike Flood invites you to attend his Flyover Fintech Conference on Aug. 2 at the University of Nebraska-Lincoln College of Business. Speakers include the Nebraska Department of Banking and Finance Director Kelly Lammers, fellow members of the House Financial Services Committee Congressmen French Hill and Warren Davidson and members of the fintech industry. The registration deadline is July 19.

Learn More and Register