Pub. 19 2024-2025 Issue 4

May BSA/AML Compliance Management WorkshopMay 20-21Virtual June Advanced School of Banking, Year 2June 2-6Manhattan, KS Commercial and Industrial Lending WorkshopJune 11Virtual Bank On Your Future: Summer ExperienceJune 11Hastings, NE NBA Annual Golf OutingJune 12Hastings, NE Bank On Your Future: Summer ExperienceJune 18Lincoln, NE Bank Compliance SchoolJune 23-27Kearney, NE Section 1071 Rules SeminarJune 24Virtual CFO/Controller ForumJune […]

An “on-us” check is one that is drawn on an account held at the same bank at which it is presented. That is, the bank is both the depository bank and the payor bank. In simple terms, the opposite of an on-us check is a transit check. A transit check is presented at another financial institution and subsequently sent to the payor bank through a clearing process for settlement. On-us checks carry different risks than transit checks, creating distinct responsibilities, particularly regarding wrongful dishonor and funds availability.

Cyberattacks have become certain, compelling organizations to rethink their approach to cybersecurity. Traditional penetration tests assess overall network vulnerabilities and highlight potential attack vectors a threat actor could leverage. However, they seldom replicate a full-chain attack in real-world scenarios without warning. Red team testing fills this gap by simulating an organized, targeted attack to evaluate how well an organization’s people and security controls withstand an active threat. This proactive method allows organizations to develop response strategies, expose critical or overlooked vulnerabilities, appraise defenses and enhance response readiness.

Nebraska banks are regularly served with subpoenas commanding the bank to produce documents. Document subpoenas, formally known as subpoenas duces tecum, are orders from governmental entities, or the Court, that order a third party, such as a bank, to provide specific information. A subpoena might seek information regarding customer accounts, specific transactions, or the activities and operation of the institution itself.1 After receiving a subpoena, the bank should take immediate action to evaluate the type of subpoena and the validity of the subpoena, consult with legal counsel, and object and/or comply as appropriate. This article provides practical guidance informing how a Nebraska bank should manage responses to third-party civil subpoenas for documents.