Pub. 10 2015-2016 Issue 2

www.nebankers.org 4 Extraordinary Service for Extraordinary Members. 22 25 JULY/AUGUST 2015 EDITORIAL: The Nebraska Banker seeks to reflect news and information relevant to Nebraska and other news and information of direct interest to members of the Nebraska Bankers Association. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the Nebraska Bankers Association. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the Nebraska Bankers Association. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to themagazine, which began bi-monthly publication inMay 2006, is included in membership fees to the Nebraska Bankers Association. 8 7 President’s Message – NBA Washington Visit Offers One-of-a-Kind Experience The 19 members of the NBA Leadership Class were among the bankers attending this year’s NBA Washington Legislative Visit. By Richard J. Baier, President & CEO, Nebraska Bankers Association 8 Washington Update – Dodd-Frank at Five: It’s No “Happy” Birthday July 21st marked the fifth anniversary of the Dodd-Frank Act. In failing to anticipate the effect the legislation would have on different sectors of the banking industry, lawmakers left many banks struggling to keep up with outsized regulatory demands and excessive compliance costs. By Frank Keating, President & CEO, American Bankers Association 10 NBA Education Calendar 12 Counselor’s Corner – Your Bank Is Not a Gazelle Where should EMV fit in a bank’s fraud-fighting toolkit? By Bryan Handlos, Kutak Rock LLP 16 Security Officer’s By-Word – Breaking the Fraud Triangle The most common and often the most devastating type of fraud is occupational fraud, or fraud perpetrated by an employee. Learn how to mitigate internal fraud at your bank. By Charles M. Towle, President, KBS 18 Bert Ely’s Farm Credit Watch – CoBank Does It Again! Lends to Investor-Owned Water Company Discover how CoBank is now lending to investor-owned utilities that do not warrant taxpayer-subsidized funding. By Bert Ely, Alexandria, Va. 22 Consumer Compliance Applies to Commercial Credit? When your compliance officer informs you that the loan officers who only work with the bank’s commercial portfolio should be trained on consumer compliance, it is not a joke. By Darlia Fogarty, Director of Compliance, Compliance Alliance 24 Liquidity & Investment Management Find out why it’s important for all aspects of liquidity risk management to be governed by asset/liability policies and prudent investment strategies. By Jeffrey F. Caughron, Chief Operating Officer/Managing Director, The Baker Group LP 25 Nebraska Court Update Read the details on a recent Nebraska court case and learn how to strengthen your close business relationships while limiting your litigation risk. By Andrew Koszewski & James Kritenbrink, Woods & Aitken LLP JULY/AUGUST 2015