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NBA BankPAC Nears Goal

As of Oct. 31, $139,585 has been collected towards NBA BankPAC's goal of $160,000. With two months until the end of the BankPAC fiscal year, our goal is within reach!

NBA BankPAC dollars are an important tool during an election year. There will be 17 state legislative district openings next election cycle, and NBA BankPAC funds allow us to recruit and support pro-business and pro-banking candidates.

We acknowledge NBA-member banks and bankers who have contributed to our 2023 BankPAC Campaign on our Honor Roll.

If you have questions about the NBA's political action efforts, please do not hesitate to contact BankPAC Committee Chair Luke Rickertsen, Flatwater Bank (Gothenburg), at 308-537-7181 or Jennifer Heaton at the NBA at 402-474-1555.

Legislative, Policy & Regulatory Updates

White House Announces Executive Order on AI

President Biden has issued an extensive executive order focusing on the regulation and implementation of artificial intelligence (AI) across various sectors, including financial services. The order directs federal agencies to review AI use and its potential impact, with a focus on financial stability and cybersecurity. It calls for a report from the Treasury Department on managing cybersecurity risks related to AI in financial institutions. Additionally, it emphasizes non-discrimination in AI-based appraisals and lending by the Consumer Financial Protection Bureau (CFPB) and housing regulators.

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Court Expands 1071 Preliminary Injunction

Last week, a Texas court extended a preliminary injunction to include all financial institutions subject to the CFPB's Section 1071 small business data collection rule. This injunction will remain in place during the Supreme Court's consideration of the constitutional challenge related to the CFPB's funding structure in CFPB v. Community Financial Services Association of America.

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ABA to Host CRA Webinar

To shed light on the implications of the recently released Community Reinvestment Act (CRA) modernization rule, the American Bankers Association (ABA) is hosting a free webinar for banks. This event will provide banks with an initial analysis of how the rule may impact their strategic planning. The webinar is scheduled for Nov. 3 at 10:00 a.m. CDT and is open to all banks, regardless of ABA membership.

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Review Alliance

If a client withdraws the claim and we have provided them with provisional credit, are we still required to comply with the notification and timing requirements if we will be debiting the provisional credit?

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Compliance Alliance

Q: Do you know the most common cybersecurity-related threats for banks?

Learn the Answer

Discover engaging thought leadership articles on retirement, health, education and savings through The Link with Ascensus. The Link is an award-winning financial publication linking your organization to timely and relevant compliance topics.

Read the Articles

Bank Marketing Center is offering a free webinar with a demo of how to create your own top-notch marketing materials (ads, social media posts, newsletters, handouts and more) using their easily customizable templates. Make sure to mention that you're an NBA member to take full advantage of the promotional pricing.

Register for the Demo