Pub. 17 2022-2023 Issue 3

In today’s financial regulatory environment, two of the hottest topics are (1) cryptocurrency and (2) cybersecurity. Within the past year, multiple agencies have released various regulations and guidance regarding cryptocurrency, banking, and cybersecurity, both individually and collectively.

National Cybersecurity Awareness Month is back in October to promote educating the nation about cybersecurity and how everyone can be safer online. The initiative provides an excellent opportunity to evaluate the cybersecurity culture of your company and how you can share your knowledge and resources with your customers and community throughout the year.

For more information about these live and online education events and training tools, contact the NBA Education Center at (402) 474-1555 or nbaeducation@nebankers.org.
You also may visit the NBA website at https://www.nebankers.org/education.html.

Although the war in Ukraine is half a world away, the fighting creates a number of issues for local banks. United States sanctions policies have implications for banks not only for transactions such as SWIFT money transfers but also for the types of business and trade in which bank customers engage with Ukrainian businesses. Bank customers conducting wire transfers to Ukraine risk sending money to a region controlled by Russia; bank customers engaged in the import/export business with Ukrainian businesses risk violating import/export restrictions. Banks, in turn, risk violating U.S. sanctions policies in each of these scenarios.

The new era of opening accounts online is here. Over time, more people have opted to open accounts online instead of in person at a branch, as some of us might be used to. And with online account opening come uncertainties in staying compliant with Bank Secrecy Act requirements.

This question is likely to garner different responses, depending on whom you ask, and a plethora of caveats. It is a tough call for the Fed because stifling housing-related inflation without punishing everyday homeowners is a tricky task. For investors, this question matters a lot because the Fed’s cessation from active Mortgage-Backed Securities (MBS) purchases eliminated demand from the largest buyer in the market and had a punitive impact on MBS valuations. If the Fed starts actively selling into the market, that could exacerbate things even further.

Nebraska has historically been blessed with a very stable and resilient economy. Unemployment rates are well below the national average, per capita incomes are growing, the economy is highly diversified and exports are robust. Despite this extraordinary economic success, there are several counties and census tracts across the state that have not experienced the same level of economic prosperity. Significant efforts are underway at both the state and community levels to plan for and implement transformative changes aimed at improving the economic foundation of these economically disadvantaged areas. As community and statewide leaders, bankers will play a key role in these efforts.