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Senators Need to Hear from Bankers on the Credit Card Competition Act

Your NBA government relations team has been advocating against the Credit Card Competition Act, but Congress needs to hear from bankers, too. Take a few moments today to register your objection to the bill. Lawmakers have indicated they have heard more from the bill's supporters than its opposition.

The Credit Card Competition Act (S. 1838/H.R. 3881) would impose unnecessary routing restrictions on credit cards and negatively impact banks of all sizes. As the NBA and other state banking associations said in a letter to Congress last week, "The impacts of this bill are clear: fewer choices for consumers, increased threats to consumer data and privacy, weakened local banks and credit unions, and the disappearance of card rewards programs that families of all income levels use to stretch their budgets."

Still Time to Get the 2023 Compensation and Benefits Survey Results

A total of 478 financial institutions from Nebraska, Illinois, Iowa, Kansas, Missouri and Ohio participated in the survey. Thank you to the Nebraska banks that participated!

The survey results will provide bank leaders with valuable insights and will enable your banks to compare your total compensation and benefits package against the standards set by other institutions. This can help banks make strategic decisions related to payroll and employee recruitment and retention, giving them a competitive edge in today's employment market. Banks that participated in the survey receive the results at the discounted rate of $199 plus tax. Banks that did not participate may purchase the survey results for $350 plus tax.

To receive the results, complete the order form or contact Ron Arrigo at the NBA at 402-474-1555 or [email protected].

Legislative, Policy & Regulatory Updates

Senate Committee Advances Cannabis Banking Bill

The Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would help ensure banks can serve legal cannabis businesses, advanced to the full Senate today. The bill is an updated version of the SAFE Banking Act which has passed the House several times.

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Federal Reserve Calls Re-Presentment NSF Fees 'Unfair'

Last week, the Federal Reserve released a compliance spotlight on the assessment of non-sufficient funds (NSF) fees on re-presented transactions. The article stated that examiners cited the assessments as an unfair practice violation of the Federal Trade Commission Act's prohibition on unfair or deceptive acts or practices and offered guidance for managing risks.

Read the Compliance Spotlight

CFPB Proposes Removing Medical Bills from Credit Reports

The Consumer Finance Protection Bureau (CFPB) announced a rulemaking to remove medical bills from consumer credit reports. The proposal would also prohibit creditors from using medical bills when evaluating credit applications.

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Graduate School of Banking-Wisconsin Opportunities

The NBA and the Graduate School of Banking-Wisconsin (GSB) are cosponsoring a wide variety of online seminars throughout the remainder of 2023. Click on each month to learn more: October, November and December. GSB seminars are designed to meet the dynamic learning needs of today's busy financial professionals and are delivered by some of today's top industry experts. All sessions are recorded, so if you’re unable to attend one of the live presentations, it’s no problem!

Meet A Banker

Next up for our Hispanic Heritage Month feature is Blanca Hernandez! She is the head teller at Homestead Bank in Cozad.

Blanca began her banking career as a part-time teller; however, she progressed to a full-time employee just two weeks later. In addition to her first role and her current role, she has also been a bookkeeper and a loan clerk. She proudly embraces her heritage and loves to share it with those around her.

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Do you know a banker we should feature for Hispanic Heritage Month? Share this form with them and help the NBA highlight the diverse opportunities available in banking.

Review Alliance

Did you know that it is a best practice for all Mortgage Loan Originators (MLOs) to have their NMLS ID Number on their business cards and email signatures?

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Compliance Alliance

Q: Can I issue an access device off of a HELOC?

Learn the Answer

The Real Property Appraiser Board has an opening for an at-large representative of financial institutions. The Board's main responsibilities involve managing appraiser credentials, setting standards, regulating appraisal management companies, addressing grievances and creating laws and rules. While having a Licensed or Certified Real Property Appraiser credential is preferred, it is not mandatory for the role. Interested parties should complete the application before Dec. 1.

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The Omaha Municipal Land Bank (OMLB) is hosting a Banker's Breakfast to help connect potential Land Bank property buyers with access to capital for their development projects. This event will provide bankers with the opportunity to learn about their disposition process and gain insight into how properties are approved for sale. The breakfast will be Nov. 3 from 8:30 to 10:30 a.m. at the Nebraska Early Childhood Collaborative in Omaha. RSVP by sending an email to [email protected] or calling 402-800-1240.