Pub. 12 2017-2018 Issue 6

WWW.NEBANKERS.ORG 4 MARCH/APRIL 2018 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 in May 2006, is included in membership fees to the Nebraska Bankers Association. CONTENTS 12 7 PRESIDENT’SMESSAGE – ENSURING THE SUCCESSOF OUR NEXT GENERATIONBANKERS With the strategic plan as our roadmap, your NBA team has initiated plans to provide new educational and training offerings and create networking opportunities for our next-generation bankers. Richard J. Baier, President & CEO, Nebraska Bankers Association 8 WASHINGTONUPDATE – STEPPINGUPOURPOLITICAL ENGAGEMENT The banking industry represents two million employees and millions more customers. It’s time our political will and engagement match that. Rob Engstrom, Chief Political Strategist, American Bankers Association 10 NBAANNUAL CONVENTION 12 COUNSELOR’S CORNER – THE END – STATUTESOF LIMITATIONS&THE CFPB In the war between the CFPB and consumer lenders, the statute of limitations battle appears to have been won by the lenders. Bryan Handlos, Kutak Rock LLP 14 TECH TALK – THE INTERNET OF THINGS ATWORK Even if you are aware of the dangers presented by IoT, your employees may not be as mindful. Learn what you can do to ensure your bank is protected from IoT threats. Alyssa Pugh, Security+, CoNetrix 20 BERT ELY’S FARMCREDITWATCH – TIME TORETHINK TAXATIONOF FCS&AGCO-OPS The major tax legislation enacted in December may trigger a fundamental review of the taxation of the Farm Credit System and ag co-ops relative to banks and other investor-owned businesses. Bert Ely, Alexandria, Va. 24 BENEFICIAL OWNERSHIP: STEPBY STEP The Beneficial Ownership Rule is similar to the Customer Identification Program but differences exist. Here are the ins and outs of the new rule. Silvia Garcia Maggio, CRCM, Associate General Counsel, Compliance Alliance