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Participation is Power: Vote!

Next month, Nebraska’s political landscape will change as votes are tallied for the 2022 election. Political change will most certainly affect the banking industry, which is why the NBA is reminding every banker to get out and vote! Each vote counts and helps to influence decisions at all levels. For a list of candidates, a sample ballot, and other voter information visit the Nebraska Secretary of State’s 2022 Elections website.

Legislative, Policy & Regulatory Updates

FHFA Accepting Comments on Federal Home Loan Bank System

The Federal Housing Finance Agency (FHFA) is conducting the first review of the Federal Home Loan Bank (FHLBank) System in nearly 100 years. The Agency is soliciting feedback on the mission, membership requirements and effectiveness of the FHLBanks. The FHFA will also hear from stakeholders on the FHLBanks’ role or potential role in promoting housing and community investment and in addressing the needs of rural and financially vulnerable communities.

The American Bankers Association (ABA) has created members-only guidelines for banks to submit comments on the review. 

Comments can be submitted through Oct. 21, 2022, via FHFA’s website ​or mailed to Federal Housing Finance Agency, 400 7th Street, SW, Washington, DC 20024.

Learn More

Trade Groups: Deposit Levels Show Assessment Hikes Unfounded

A coalition of banking trade groups cited new data in a recent letter opposing proposed deposit insurance assessment rate increases. The Quarterly Banking Profile released last month showing declines in deposit levels "supports and confirms that an assessment rate increase is unwarranted at this time," the groups stated.

The Federal Deposit Insurance Corporation (FDIC) proposed to raise the schedule for assessment rates by two basis points - i.e., so that the assessment rate would be two basis points for every bank. The change would take effect for the first quarter of 2023 (payable that June) and remain until the Deposit Insurance Fund reaches 2.00%.

The NBA submitted a letter in August opposing the assessment increases. “The proposed two-basis-point increase in the FDIC assessment rate is not supported by current market conditions and would have a significant negative impact on community banks in Nebraska and throughout the United States,” the NBA said.

Read the Letter

Financial Institution Cybersecurity Resource Updated

The Federal Financial Institutions Examination Council (FFIEC) issued an update to the FFIEC Cybersecurity Resource Guide for Financial Institutions. The 2022 guide lists voluntary programs and actionable initiatives that are designed for or are available to help financial institutions meet their security control objectives and prepare to respond to cyber incidents.

Read the Guide

Banks & Bankers

Oct. 5 - 11

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

Meet A Banker

Osbaldo Sanchez started his banking career with an internship during high school and immediately knew that banking was the right fit. As the vice president of lending at First State Bank in Omaha, he tries to incorporate his heritage into his interactions with customers by building strong, personal relationships.

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Bill Marienau, general counsel for the Nebraska Legislature’s Banking, Commerce and Insurance Committee, will retire later this year. Bankers are invited to a reception in his honor Oct. 27 from 5:00 to 7:00 p.m. at the Schottish Rite Masonic Center at 332 Centennial Mall South in Lincoln. RSVP to Natalie Schunk at [email protected].

During Marienau’s more than 35 years in his role, he has been instrumental in reviewing and assisting in the drafting of banking-related legislation and is a walking encyclopedia of knowledge regarding banking law and legislation.

The Nebraska Department of Agriculture’s NextGen program provides tax credits to the owner of agricultural assets who rents to an eligible beginning farmer or rancher for a minimum of three years. Effective Oct. 1, the net worth requirement for beginning farmer applicants was raised from not more than $200,000 to not more than $250,000.

Learn More 

The University of Nebraska-Lincoln’s Center for Agricultural Portability is hosting a workshop for those in the process of bringing a family member back to the farm or ranch. The Returning to the Farm workshop is Dec. 9 and 10 in York.

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According to a new report by AARP, Elder financial exploitation has more than doubled since the start of the COVID-19 pandemic. The report notes financial institutions are well-positioned to protect older adults who may be a victim of financial exploitation. 

Read the Report

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