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BankPAC...Together We Can Make A Difference!

BankPAC is a very important part of the NBA's government relations efforts. The funds raised are used to make political contributions to candidates for the Nebraska Unicameral, statewide offices and the Nebraska Congressional Delegation. When your contribution is combined with others within the banking industry, it works for the good of the entire industry in Nebraska. Next year is an election year, and the Nebraska Legislature will have 15 term-limited senators!

The NBA BankPAC Committee directs the fundraising efforts and determines which candidates receive financial support. The Committee would like to encourage all NBA members who have not already made their contribution to participate by urging their officers, directors and employees to support the industry for which they work.

We recognize our members who have made voluntary contributions to NBA BankPAC on the Honor Roll. To date, the NBA BankPAC has received $130,570 towards this year's campaign goal of $160,000.

If you have questions about the NBA's political action efforts, or to learn more about NBA BankPAC, you can visit the NBA BankPAC webpage or contact Jennifer Heaton at the NBA at [email protected] or 402-474-1555.

Legislative, Policy & Regulatory Updates

Department of Labor Releases Overtime Proposal Rule

The U.S. Department of Labor (DOL) announced a proposed rule that would increase the number of employees covered by the Fair Labor Standards Act's overtime and minimum wage requirements. Under the proposal, employees earning up to $1,059 per week, equivalent to $55,068 annually, would automatically be subject to those requirements. This represents a significant increase from the 2019 regulations, which set the salary threshold at $684 per week or $35,568 annually.

In addition, the proposed rule would increase the amount of income an employee must receive to be classified as a "highly compensated employee" to $143,988 annually. The proposed rule would also require the DOL to update the salary level and HCE threshold every three years.

Read the Proposed Rule

FDIC Introduces Banker Engagement Site

Later this month, the Federal Deposit Insurance Corporation (FDIC) will launch a Banker Engagement Site for consumer compliance and Community Reinvestment Act exams. The site will be accessible through the FDIConnect portal and give bank staff the ability to communicate with FDIC examination staff.

Learn More

SBA Announces 7(a) Fees for Fiscal Year 2024

The Small Business Administration (SBA) announced an updated Lender's Annual Services Fee and SBA Guaranty Fee for 7(a) loan program loans approved Oct. 1, 2023, through Sept. 20, 2024.

Learn More

Fall sports are underway, and we still have plenty of Husker sports schedule cards available. These free pocket cards feature both football and volleyball game dates.

Contact Laurie Johnson at the NBA at [email protected] or 402-474-1555 with questions on any of these items.