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September 14, 2022

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Bank Net Income Down in Nebraska, Nationally

Federal Deposit Insurance Corporation (FDIC)-insured banks and savings associations earned $64.4 billion in the second quarter of 2022, an 8.5% decrease from the year prior. According to acting FDIC Chairman Martin Gruenberg, “downside risks from inflation, rising interest rates, slowing economic growth and continuing pandemic and geopolitical uncertainties will continue to challenge bank profitability, credit quality and loan growth.”

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Nebraska Report

Legislative, Policy & Regulatory Updates

OCC Names Chief Climate Risk Officer

The Office of the Comptroller of the Currency (OCC) appointed Dr. Yue (Nina) Chen its chief climate risk officer. Chen previously served as the executive deputy superintendent of the New York Department of Financial Services’ climate division.


In a speech at The Clearing House and Bank Policy Institute's Annual Conference, Acting Comptroller of the Currency Michael Hsu noted banks and bank trade associations have raised concerns about the OCC’s supervisory and regulatory actions related to climate change in “every meeting” he has had with them.

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Senate Banking Committee: CFPB Pursuing Radical Agenda

The 12 Republican members of the Senate Banking Committee accused the Consumer Financial Protection Bureau of pursuing “a radical and highly-politicized agenda unbounded by statutory limits.” The senators called CFPB’s actions against bank overdraft fees a “relentless smear campaign.”


They also accused CFPB of changing its rules so it could publish previously confidential information about financial institutions to make it easier to threaten them with reputational harm. The senators also alleged that the agency changed its rules of adjudication to make it harder for companies to defend themselves against novel enforcement theories, and easier for the agency to engage in regulation by enforcement.

Read the Letter

OCC Issues Video Teleconferencing Privacy Bulletin

The OCC issued a bulletin for community banks on the legal requirements for protecting non-public OCC information in video teleconferencing services.  Banks and other parties in possession of such information — such as supervisory correspondence and investigatory files — are prohibited from disclosure without the agency’s prior approval, except in very limited circumstances. The agency outlined several security requirements for video teleconferences where such information will be shared.

Read the Bulletin


Financial Service Republicans Ask Fed for CBDC Clarification

Republicans on the House Financial Services Committee asked Federal Reserve Vice Chair Lael Brainard to clarify the Fed’s motivation for possibly issuing a central bank digital currency (CBDC), the need for Congress to support or explicitly authorize such a move and the Fed’s position on individual retail accounts at the central bank.


New Firearm Seller Merchant Code

The International Organization for Standardization last week approved a merchant category code for firearms stores. Visa, Mastercard and American Express announced plans to use the code to track firearm purchases. The code was requested by Amalgamated Bank of New York.

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Upcoming Events

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

A wide variety of online seminars, co-sponsored by the NBA and the Graduate School of Banking-Wisconsin, are available as well. For more information, view the schedules by date: September | October | November/December.

Banks & Bankers

September 7 - 13

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

ABA Releases New Videos on Senior Scams

The American Bankers Association Foundation (ABA) released seven new videos designed to raise awareness of the top scams targeting older Americans. 

Access the Videos

Gallup: Positive Views of Banking, Business Fall

According to Gallup’s annual survey of public attitudes about business, 36% of Americans had a positive view of the banking sector, down four percentage points from 2021. Overall public satisfaction with the 25 sectors tracked by Gallup fell to 36%, just two percentage points above the record low set in 2008.

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Nebraska Bankers at Husker Harvest Days

NBA Chair Stephen Stull (Nebraska Bank, Hickman), NBA Chair-elect Lydell Woodbury (First Nebraska Bank, Valley) and NBA President and CEO Richard Baier spoke to ag media this week at Husker Harvest Days. The three shared how banks and bankers are engaged with agriculture and the communities they serve. They also discussed career opportunities in banking and banks’ financial literacy efforts. The interviews will air on Rural Radio Network stations, Brownfield Ag Network stations, KZEN and WNAX.

Watch the Rural Radio Network Interview


The NBA has a booth at Husker Harvest Days this week - come find us in the Diversified Industries South building! Sixteen bankers volunteered to help us connect with others in the ag industry. Photos will be included in next week’s Banks & Bankers.

NBA leadership speaks with Bryce Doeschot from the Rural Radio Network.

Review & Compliance Alliance: Question of the Week

Review Alliance

Did you know that Regulation O Annual Surveys of Insiders should list the percentage of stock owned?

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Compliance Alliance

Q: Do we have any TCPA issues making phone calls to current customers to sell them other bank products?

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