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May 25, 2022

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Compliance Exams - NSF Fees on Re-Presented Checks

The NBA has recently received a number of calls regarding a compliance exam practice of significant concern. The issue involves situations in which multiple non-sufficient funds (NSF) fees are assessed on re-presented checks or ACH entries.

The Federal Deposit Insurance Corporation (FDIC) has suggested that disclosures that are silent regarding a bank’s assessment of fees on multiple presented items may constitute a UDAAP violation (“unfair” or “deceptive” practice) for which refunding of fees could be required.


There are indications that even if a bank has updated its disclosures to reflect that NSF fees can be assessed against an item each time it is presented for payment, the potential to be cited for a UDAAP violation requiring refunding of fees may still exist.


The NBA has expressed our concerns regarding this issue to FDIC representatives and will continue to be engaged on your behalf.

Do You Know an Elementary or Business Teacher?

As part of our workforce development efforts, the NBA seeks feedback from elementary and middle or high school business or related subject-area teachers on ways bankers can better connect with students regarding careers in banking. If you know a teacher who would be willing to share their thoughts, please contact Kara Heideman at the NBA at or 402-474-1555.

Legislative, Policy & Regulatory Updates

KC Fed Head to Retire Next Year

As required by the Federal Reserve’s mandatory retirement rules, Federal Reserve Bank of Kansas City President and CEO Esther George has announced her intention to retire in Jan. 2023. A search committee consisting of Class B and C directors unaffiliated with the banking industry has launched a nationwide search for the next president and has retained executive search firm Ergon Zehnder. Applicant referrals should be directed to the search firm at

Learn More

CFPB: States Have CFPA Enforcement Authority

The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule stating its view that state regulators and state attorneys general have enforcement authority with regard to all provisions of the Consumer Financial Protection Act (CFPA), based on its interpretation of Section 1042 of the Act.

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Bank Net Income Down in Nebraska, Nationally

According to the FDIC Quarterly Banking Profile, first quarter profits for Nebraska banks were 15% lower than during the same period in 2021. Nationally, net income was down 22%. According to acting FDIC Chairman Martin Gruenberg, the decline was driven by an increase in provision expenses.

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Nebraska Report

Lawmakers, ABA Raise CBDC Concerns

In separate letters to the Federal Reserve (Fed), a group of Republican representatives and the ABA both questioned the need for a Central Bank Digital Currency (CBDC). “The Fed should understand whether the benefits of a CBDC outweigh the risks to commercial banks, the existing payments system, and consumers,” the lawmakers stated. The ABA noted a CBDC would “fundamentally change the role of the central bank in the United States and reshape the banking system.” 


The House Financial Services Committee will hold a hearing on a CBDC on May 26. 

Read the House Letter

ABA Letter

ABA Urges Five-Year NFIP Reauthorization

In a letter to the House Financial Services Committee, the ABA called for reauthorizing the National Flood Insurance Program (NFIP) every five years. Short-term extensions “destabilize the mortgage process,” according to the ABA. The Committee’s Subcommittee on Housing, Community Development and Insurance held a hearing on the NFIP today.

Read the Letter

Upcoming Events

To see the complete event schedule, visit the NBA Event Calendar.

Banks & Bankers

May 18 - 24

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UNL College of Business Employer Partner Days

Hear from current students and recent graduates and learn ways to connect with the UNL College of Business by attending Employer Partner Days in person or virtually. The free event is Aug. 3 from 8:30 a.m. to 2:15 p.m. CST.

Learn More and Register

ABA Emerging Leader Award Nominations Due June 1

The inaugural American Bankers Association (ABA) Emerging Leader Awards will recognize the next generation of bank leaders who are committed to the highest standards of achievement and service to the industry and their communities. 

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Review Alliance

Did you know that FEMA flood declaration pages are no longer required to list the flood zone?

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Compliance Alliance

Q: If the bank agrees to make an interim construction loan but the borrower has a takeout letter from another institution, is the bank required to send a permanent loan disclosure for informational purposes?

Learn the Answer

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