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November 2, 2022

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NBA Government Relations Committee Reviews Legislation for Upcoming Session

The NBA Government Relations (GR) Committee is comprised of 22 volunteer bankers dedicated to developing a formal policy on legislative and regulatory issues important to the Nebraska banking industry.

The GR Committee met on Oct. 27 and reviewed in detail potential 2023 NBA Affirmative Legislation which could include the following:

  • Acquisition of banks by credit unions
  • Small estate affidavit - endorsement of checks
  • Executive officers outside indebtedness
  • Electronic submission of audit reports
  • Number of bank directors
  • Nebraska Financial Innovation Act - UCC Article 12
  • Life insurance assignment - notice of lapse/termination
  • Trust deeds - location of trustee's sale
  • ATM destruction (smash and grab)
  • SALT Parity Act
  • UCC cross-collateralization

The NBA Board of Directors will meet on Dec. 9 to make final decisions regarding GR Committee recommendations.

Left to right: NBA Government Relations Committee Chair, Nick Vrba, First State Bank & Trust Co. (Fremont); NBA Chair Stephen Stull, Nebraska Bank (Hickman); NBA Chair-Elect Lydell Woodbury, First Nebraska Bank (Valley); Spencer Bergen, Union Bank & Trust Co. (Lincoln); NBA Associate General Counsel Jerry Stilmock; Chris Ott, First Nebraska Bank (Valley); and Ryan Steffensmeier, First Community Bank (Beemer)

Legislative, Policy & Regulatory Updates

NDBF Announces Digital Asset Depository Rulemaking Hearing

The Nebraska Department of Banking and Finance (NDBF) will hold a hearing on Dec. 7 at the First Nebraska Administrative Building in Lincoln to take testimony on the rules and regulations associated with implementing the Nebraska Financial Innovation Act.

The Nebraska Financial Innovation Act was approved in 2021 and allows for the creation of a digital asset depository institution. The NBA government relations team worked closely with the bill's sponsor and legislators to amend the bill to protect Nebraska's banking industry.

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CFPB Begins Personal Financial Data Rulemaking

The Consumer Financial Protection Bureau (CFPB) released proposals to implement Section 1033 of the Dodd-Frank Act. If accepted, the proposals would require businesses to make a consumer's financial information available to them or a third party at the consumer's direction. Before issuing a proposed rule, the CFPB must convene a panel of small businesses that represent their markets to provide input.

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Ransomware Reports Up Significantly

The Financial Crimes Enforcement Network (FinCEN) released the Financial Trend Analysis of ransomware-related Bank Secrecy Act (BSA) filings for 2021. The report finds ransomware filings more than doubled from 2020 to 2021. A substantial number of the filings pertained to Russia-related ransomware.

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Upcoming Events

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

Graduate Schools of Banking Opportunities 

The Graduate School of Banking-Wisconsin (GSB-Wisconsin) and the NBA are sponsoring multiple schools in 2023: Bank Technology Management SchoolDigital Banking School and Financial Managers School. View next year’s full schedule here.

The NBA and GSB-Wisconsin are also co-sponsoring online seminars during the rest of 2022. For more information, view the schedule.

Enrollment is open for the Graduate School of Banking at Colorado’s next session, July 16-28, 2023, in Boulder, CO. Learn more and apply here

Banks & Bankers

Oct. 26 - Nov. 1 

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Nebraska Chamber to Hold Workforce Development Summit

Bankers are invited to attend a summit hosted by the Nebraska Chamber on workforce solutions. Panelists will discuss workforce housing, economic development and more. The summit will be Nov. 15 from 8:30 a.m. to 3:30 p.m. CST in Lincoln.


Webinar on CDFI Collaboration

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) are hosting a webinar on Nov. 30 at 10:00 a.m. CST on Community Development Financial Institutions (CDFI). The webinar will include a discussion on ways banks and CDFIs can partner on small business funding.


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