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Premier Bank Application Decision Pending

The NBA legal team (Bob Hallstrom, Jerry Stilmock, and Ryan McIntosh), together with the Attorney General’s office, representing the Nebraska Department of Banking and Finance, presented oral arguments on May 5 and May 8 before the Lancaster County District Court in opposition to the Premier Bank application to sell substantially all of its assets to GreenState Credit Union. The matter is on appeal to the Lancaster County District Court from a decision rendered by the Nebraska Department of Banking and Finance on December 30, 2021, denying the Premier Bank application. A decision by the Lancaster County District Court is anticipated in the coming months.

The NBA Compliance Handbook has served as a staple in hundreds of Nebraska financial institutions for over two decades.  

The Handbook will help your financial institution comply with the ever-increasing volumes and revisions of banking industry regulations. An annual subscription of $500 will provide all of your bank employees – at all locations – access to the Handbook through their NBA members only log-in.

The Handbook provides information on the following subjects:

Compliance Management

Consumer Finance Protection Bureau

Governance

Bank Structure

Security

Personnel

Record Retention

Public Disclosure

Privacy

Deposit Accounts

Public Funds

Bank Promotion

Nondeposit Products

Unclaimed Property

Secured Transactions

Real Estate

Lending

Environmental Issues

Miscellaneous Issues

On behalf of the NBA, we appreciate your business and support of Association products and services. If you have any questions, please feel free to contact Jennifer Heaton at the NBA at [email protected] or 402-474-1555.

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Legislative, Policy & Regulatory Updates

Compliance Update - May 13, 2022

• FDIC - Deposit Insurance Simplification - Trust Deposits
• FDIC - Notification of Engaging in Crypto-Related Activities

NBA Opposes Credit Union Charter Enhancement Bill

On Monday, the NBA, the American Bankers Association (ABA) and 50 state banking associations sent a letter to members of the House Committee on Financial Services to urge lawmakers to oppose H.R. 7003. The Committee advanced the bill today on a 27-22 vote.

H.R. 7003 would allow credit unions to expand their field of membership by adding areas 10 miles or more from the nearest financial institution branch and low-income areas. However, the bill does not require credit unions to demonstrate that they are providing financial services to underserved individuals and businesses. The legislation also creates a loophole in credit union commercial lending restrictions by exempting loans to borrowers living or operating in an underserved area from the lending cap.

Bankers can also contact Congress by clicking here.

Read the Letter

Support for the SAFE Banking Act

A bipartisan group of senators recently sent a letter supporting the inclusion of the SAFE Banking Act in the final version of the America Competes Act. The cannabis banking language was included in the House-passed version of the competition bill which is currently pending before a conference committee. 

The NBA and its counterparts in other states earlier sent a letter in support of the SAFE Banking Act. Bankers are also urged to contact Congress to help ensure banks can serve legitimate cannabis businesses.

Read the Letter

DOL Urged to ‘Abandon or Postpone’ Overtime Rulemaking

The ABA and 92 other trade associations sent a letter to the Department of Labor (DOL) to “abandon or postpone” plans to issue a proposed rule to modify existing overtime regulations. The agency announced plans to issue a rule this spring that would adjust the salary level at which an employee could be exempted from federal overtime and minimum wage.

Read the Letter

Banking Agencies Release Updated Flood Insurance Guidance

The federal banking agencies issued a set of reorganized, revised and expanded interagency questions and answers on flood insurance compliance.

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Banks & Bankers

May 11 - 17

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

The 2023 NBA Scenes of Nebraska Calendars are available for order! We are excited to work with a new vendor this year: Aradius Group. You can learn more about the new ordering process and view a “How-To” video here.

“Early Bird” orders placed by Aug. 6 will ship by early Oct. Items will be shipped by the end of Oct. for orders placed between Aug. 7 and Sept. 3.

For questions about ordering calendars, please contact Laurie Johnson at the NBA at [email protected] or 402-474-1555.

The Federal Deposit Insurance Corporation (FDIC) will present the 2022 Director’s College Program Aug. 23 in Lincoln. The presentations include up-to-date information on various issues relevant to all bank directors with an overall theme of risk identification and monitoring.  

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