Pub. 12 2017-2018 Issue 3

NEBRASKA BANKERS ASSOCIATION 11 President’s Message — continued from page 7 Richard J. Baier is president and CEO of the Nebraska Bankers Association (NBA). Founded in 1890, the NBA is the voice of Nebraska’s $76 billion banking industry, which is composed of small, regional, and large banks that together employ more than 15,000 people, safeguard almost $59 billion in deposits, and extend more than $57 billion in loans, all within the state of Nebraska. For more information, contact Baier at (402) 474-1555 or richard.baier@nebankers.org . these new requirements. Obviously, those of us involved in the banking sector know differently. √ Finally, as we have witnessed since the Great Recession, some misplaced reservations about the banking sector and our motivations for doing business remain. I amnot sure CFPB staff had an appreciation of the fact that we want our customers/borrowers to be successful. After returning to Nebraska, I spent a great deal of time mulling over the meeting and considering how our industry can proactively address the inherent challenges and assumptions held by some within the bank regulatory community. First and foremost, wemust remain vigilant on the legislative front. As we have learned all too well as a result of Dodd-Frank, regulations designed for larger, more complex financial institu- tions always seem to flow downhill, impacting every institution in America, regardless of their business model. Secondly, we need to find ways to help better educate young staffers who are starting their careers in Congress or within the regulatory agen- cies. We routinely host a “Take Your Lawmaker to Work” week, but how often do we spend time educating our young regulators? Wemust find ways to help thembetter understand the complexi- ties of our core systems; why a Combine costs $300,000 plus; why a bank may not loan the requested amount to a commercial borrower and how this may actually be better for the borrower’s business; how a bank can successfully operate with four staff members, or that our rural branch locations can operate ef- ficiently even though they are 200 miles apart. Finally, the banking industry must seek new opportunities to actively educate and engage the next generation about our industry. We need to think about our industry’smarketing efforts and find new communication strategies that will resonate with Generations X, Y, and Z. Banks are not only the credit engine of our economy, but also a fundamental component of every life-changing event we experience—from purchasing our first car or home and saving for college to financing a new business and ensuring our dollars are safe from hackers and crackers. Our next generation—whether they are working as a manufac- turer in David City, a rancher in Mullen, or a bank regulator in Washington, D.C.—must understand that Nebraska banks are their partners in success and that they can “Bank On Nebraska” financial institutions for financing their future.  1125 South 103rd Street, Suite 800 Omaha, NE 68124 402.390.9500 koleyjessen .com Dynamic Legal Advisors for the Business Minded Marlon M. Lofgren Donald L. Swanson M. Shaun McGaughey Thomas F. Ackley Max J. Burbach Matthew J. Speiker Brian J. Koenig Kristin M. Krueger Taylor C. Dieckman Our Banking, Finance and Creditors’ Rights Team: