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NBA Releases Internship Toolkit

As part of our ongoing workforce development efforts, the NBA has developed an internship toolkit to help NBA members establish and grow a high-quality internship program. This comprehensive toolkit covers every aspect of creating and managing successful internship programs and tips for recruiting interns. 

Internships are key to our industry's future. They provide students with a hands-on look into banking and help banks identify future employees. In addition, many colleges and universities require students to complete an internship before graduation. 

As the banking landscape evolves, identifying and nurturing talent is increasingly vital. The internship toolkit is part of the Bank On Your Future initiative, a comprehensive campaign to address the workforce needs of Nebraska banks and position banking as the industry of choice for a larger, more diverse group of young Nebraskans. Bank On Your Future emphasizes that Nebraskans can positively impact their communities with a career in banking. 

For more information, contact Steven Mah at the NBA at steven.mah@nebankers.org or 402-474-1555.

Access the Internship Toolkit

NBA Honors David and Ann Bruntz for Contributions to Agriculture

The NBA recognized David and Ann Bruntz of Friend with the 2023 NBA Agribusiness Recognition Award. The award has been presented each year since 1983 to individuals who have made significant contributions to the state of Nebraska and its agricultural industry. The presentation was made during the NBA’s Fall Agribusiness Conference last week in Lincoln.

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Legislative, Policy & Regulatory Updates

Ask Congress, Ag Groups to Support Rural Credit Access

The Access to Credit for our Rural Economy (ACRE) Act (H.R. 3139/S. 2371) excludes from gross income the interest a qualified lender receives on all loans secured by farm real estate and aquaculture facilities. Additionally, the bill would exclude from gross income the interest received by a qualified lender on home mortgage loans in rural communities of no more than 2,500 people. 

ACRE will:

• Lower the cost of making a loan backed by ag real estate.
• Enhance competition between lenders for ag and rural housing loans.
• Expand access to local credit in rural Nebraska.
• Allow all federally insured banks to leverage a tax benefit that government-sponsored enterprises already use to support rural and ag lending.

Ask your local ag groups to support ACRE and advocate for lower cost credit for their members.

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Compliance Updates - Sept. 8, 2023

• NSF Fees for Re-Presentment
• USCIS Revised Form I-9
• Supervisory Non-Objection Process for State Member Banks Seeking to Engage in Certain Activities Involving Dollar Tokens

Court Vacates CFPB's Revised UDAAP Exam Manual 

A federal judge in Texas has ruled in favor of the American Bankers Association, the Texas Bankers Association, the U.S. Chamber of Commerce and several other co-plaintiffs in their legal challenge against the Consumer Financial Protection Bureau's (CFPB) Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) exam manual. In a stern condemnation of the agency's actions, the judge issued a final judgment, invalidating the CFPB's interpretation of its UDAAP authority as of March 2022.

Read the Ruling

FDIC Releases Quarterly Banking Profile

The Federal Deposit Insurance Corporation (FDIC) Quarterly Banking Profile shows that second-quarter net income declined $9 billion (11.3%) from the first quarter of 2023. Total deposits declined for the fifth consecutive quarter.

The decrease in net income was attributed to several factors, including a reduction in noninterest income due to the accounting treatment of acquiring three failed institutions, a decrease in net interest income, and higher provision expenses. 

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Nebraska Report

Senate Approves Federal Reserve Nominations

Last week, the Senate voted to confirm Philip Jefferson to be vice chairman of the Board of Governors of the Federal Reserve System and approved the nominations of Lisa Cook and Adriana Kugler to serve as governors. 

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Review Alliance

Did you know that there are three types of loans that are exempt from Flood Insurance?

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Compliance Alliance

Q: Is it standard for a Reg O loan to have a demand feature?

Learn the Answer

The NBA is partnering with the Nebraska Society of Certified Public Accountants for a free webinar on the Pass-Through Entity Tax election. The webinar will cover an explanation of Nebraska Department of Revenue Forms and a discussion of income taxability. The webinar is Oct. 5 from 11:30 a.m. to 12:30 p.m. CDT. 

Register

A two-part webinar series hosted by the American Bankers Association (ABA) will examine the state of financial literacy in the United States and the ways banks can provide solutions in their communities. The first webinar is Sept. 20 from noon to 1:00 p.m. CDT. 

Register