Pub. 16 2021-2022 Issue 3

Please visit nebankers.org/education.html or call the NBA Education Center at 402-474-1555 for the most current event schedule.  October 2021 Advanced Schools of Banking, Year 1 October 4-8Grand Island, NE NBA Convention “Lite” October 6-7Lincoln, NE Commercial Leanding School October 25-29La Vista, NE Women in Banking Conference October 27-28La Vista, NE Summit on Regulatory Issues October 29 […]

The narrative for the U.S. economy has shifted as we move into the second half of this year. Not long ago, financial markets were saturated with talk about inflation and rising interest rates. However, after an initial economic reopening and rebooting surge, the bond market is now telegraphing expectations for weaker growth, lessened inflation fears, and perhaps a more diligent Federal Reserve. The 10-yr U.S. Treasury yield, which had jumped sharply from the August 2020 low-point of .50% up to 1.75% through the end of the first quarter, reversed and steadily traded lower into mid-year, ending the second quarter below 1.50%. The slope of the yield curve, which had previously steepened to the widest in six years, is now much flatter, reflecting clarity from policymakers and diminishing expectations for sharply higher yields.

There are so many ways to violate TRID. Mastering the content requirements (knowing what to put where) is difficult for even the most seasoned compliance professional and is the source of numerous violations. Conquering the timing requirements (knowing when to give what) seems to be a much easier assignment, but it too causes numerous violations. When it comes to what information to include in disclosures and in which section, there are many gray areas, too much, in fact. However, the regulations are a lot more black and white when it comes to giving the disclosures.

Although vendor management isn’t a silver bullet to preventing vendor data breaches, it’s a necessary component to a healthy overall information security program. We’re going to continue utilizing vendor relationships, so truly managing our vendors remains extremely important. A good vendor management program contains the following components: risk assessment, due diligence, contract review, and the watch list.

One of the aspects many Nebraskans love so much about our state is that we get to experience all four seasons. As the calendar rolls into the second half of the year, our kids start going back to school, Friday night lights become the focal point of our communities, and we soon get to watch a football being tossed around Memorial Stadium on Saturdays. Fall is right around the corner. Many use the change in seasons as a time to focus on a particular task (how many of us are spring cleaners?) or prepare for the coming season. Likewise, you can use the march toward fall as a Fall Retrospective — a time to review your customer account agreements to determine if you need to update them in any way.

America’s banks have a longstanding commitment to helping reduce the number of unbanked and underbanked individuals and families in the U.S. July marked a major milestone in that endeavor, with an announcement from the Cities for Financial Empowerment Fund that the number of Bank On certified deposit accounts now available has surpassed 100. At the time this column was written, it was up to 114.

As I sat down to begin planning this magazine column, my mind instantly gravitated to the many Congressional hurdles, regulatory proposals and operational issues facing the banking industry in Nebraska; the list feels almost endless: potential new IRS reporting requirements, new Consumer Financial Protection Bureau reporting rules on small business lending, workforce limitations, etc. However, I know you don’t need to be reminded. So, I decided to change course and reflect upon the important ways our members back Nebraska customers and their communities.