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UPDATE

March 23, 2022

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Welcome to the Redesigned NBA Update

The content you're accustomed to in the PDF versions of Update and Banks & Bankers is available below in an accessible, mobile-friendly format. Share your feedback here

NBA Foundation Awards Scholarships

Ten Nebraska college students were awarded $2,000 NBA Foundation Scholarships. The scholarships are given to students who demonstrate an interest in a banking career and attend one of the three state colleges or a privately funded educational institution.

See the Recipients

Nebraska Bankers Donate Funds to University Campuses

The Nebraska banking industry will contribute over $175,000 to the University of Nebraska during the 2022-2023 academic year. The NBA Foundation Committee met recently to allocate funds to the four University of Nebraska campuses.

See the Allocations

Legislative, Policy & Regulatory Updates

Take Action: Ask Congress to Temporarily Lower CBLR

Contact Nebraska’s Congressional Delegation to urge them to cosponsor the Community Bank Relief Act (S. 3409/H.R. 6145). The legislation would temporarily lower the Community Bank Leverage Ratio (CBLR) to between 8.0% and 8.5%.

Contact Congress

NBA Legislative Update March 18


Businesses Urged to Strengthen Cyber Defenses

The White House released a fact sheet detailing steps businesses can take to help thwart cyber attacks.

Learn More


Committee Approves Fed, FHFA Nominees

The Senate Banking Committee approved the Federal Reserve nominations of Jerome Powell, Lael Brainard, Lisa Cook and Philip Jefferson and Sandra Thompson's nomination to lead the Federal Housing Finance Agency.

Learn More


Treasury Urged to Publicize Coin Circulation Slowdown

In a letter to U.S. Treasury Secretary Janet Yellen, a coalition of trade groups urged the department to raise awareness of the need to get get coins moving in the economy.

Read the Letter


NACHA Raises Same-Day ACH Limit to $1M

In collaboration with the Federal Reserve and The Clearing House, the National Automated Clearing House Association (NACHA) increased the same-day dollar limit for ACH transactions from $100,00 to $1 million.

Learn More

Upcoming Events



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

Banks & Bankers

March 16 - 23


Email your news, press releases, photos and/or newspaper articles to be published in Banks & Bankers. Send content to news@nebankers.org.

Help Make the NBA BankPAC Silent Auction A Success

The NBA has received many wonderful donations for the BankPAC Silent Auction so far, but there's always room for more! Some of the items donated include four tickets to see Alan Jackson in concert, AirPods, Husker tickets and other great items. View the list of current donations here.


If you have an item(s) to donate or have questions about the Silent Auction or BankPAC, please contact Jennifer Heaton at the NBA at jennifer.heaton@nebankers.org or 402-474-1555.

Council for Economic Education Report Highlights Financial Literacy Efforts

The Council on Economic Education's Survey of the States report features Nebraska as a "State Making a Difference" in financial education. The report highlights the financial literacy education requirements passed in 2021 and notes that the legislation was the result of nearly 10 years of advocacy by organizations like the Nebraska Bankers Association.

Read the Report

George to Speak at UNO

Bankers are invited to attend a presentation by Esther George, president and CEO of the Federal Reserve Bank of Kansas City, at the University of Nebraska-Omaha on April 13 at 10:30 a.m. 

RSVP Here

Review Alliance

Did you know that disputed electronic transactions should be hard posted to a customer’s account before filing a Reg E claim?

 

  • Items that are pending on a customer’s account may not always hard post. In many cases, disputed items may fall off the account within a few days. 
  • Regulation E disputes for electronic funds transfers should be filed on items that have hard posted to accounts.
  • Waiting until an item has posted will prevent unnecessary filings.


Review Alliance is an independent group of compliance specialists offering banks deep-dive audits of their existing transactions, recommendations about program enhancements or guidance on future safety and soundness. In 2020, we added Virtual Compliance Officer – a new shared-service model using bank-dedicated compliance officers perfect for monitoring and guiding your bank remotely. To learn how to put them to work for your bank, contact Jennifer Heaton at the NBA at jennifer.heaton@nebankers.org or call 402-474-1555.

Compliance Alliance

Q: We have two borrowers who are requesting to refinance a loan secured by one of the borrower’s principal residences, but the purpose of the cash out will be to pay off a lien on a different residence that is only in one of the borrowers’ names. For HMDA purposes, should I report this as a Refinance since both liens are in one of the borrower’s name even if it’s not the same property? 

 

A: Yes, that is correct since the HMDA definition of a refinancing does require that at least one of the borrowers be the same but does not necessarily require that the dwelling securing the loans be the same: 


"Refinancing means a closed-end mortgage loan or an open-end line of credit in which a new, dwelling-secured debt obligation satisfies and replaces an existing, dwelling-secured debt obligation by the same borrower." 

12 CFR 1003.2(p)


Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email info@compliancealliance.com and ask for our Membership Team.

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