Pub. 13 2018-2019 Issue 5

NEBRASKA BANKERS ASSOCIATION 1 JANUARY/FEBRUARY 2019 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 the magazine, which began bi-monthly publication in May 2006, is included in membership fees to the Nebraska Bankers Association. CONTENTS 5 PRESIDENT’S MESSAGE – YOUR NBA BANKPAC AT WORK In today's hyper-political and volatile environment, the stark reality is that businesses and banks need to proactively engage in the political process to be successful in the long term. Richard J. Baier, President & CEO, Nebraska Bankers Association 6 WASHINGTON UPDATE – 2019: DIFFERENT APPROACH, SAME AGENDA Significant progress at the regulatory agencies as well as the passage and implementation of long-sought bipartisan regulatory reform made 2018 a breakthrough year in many ways. Rob Nichols, President and CEO, American Bankers Association 10 COUNSELOR’S CORNER – 411 ON 420 FOR NEBRASKA BANKERS Cannabis is illegal. Money laundering is illegal. With numerous states legalizing various forms and uses of marijuana, Nebraska bankers will need to stay on top of cannabis banking issues. Bryan Handlos and David Bracht, Kutak Rock LLP 14 TECH TALK – PATCH YOUR SERVERS, PATCH YOUR PEOPLE “But I don’t even have an icloud account!” my aunt said over the phone, as the realization of her fear began to set in. “Is this just a scam?!” Stay in front of vishing and phishing scams, by patching your people. Jeremy Smith, CoNetrix 18 COMMERCIAL LOANS AND THE FCRA The Fair Credit Reporting Act (FCRA) basically regulates the furnishing and collecting of credit information and imposes certain disclosure requirements in connection with accessing credit reports. Does the FCRA apply to commercial loans? Victoria E. Stephen, CRCM, Compliance Alliance Associate General Counsel 22 BERT ELY’S FARM CREDIT WATCH New Farm Bill has significant implications for the FCS and increases complexity for the review of young, beginning and small farmer regulations. Bert Ely, Alexandria, Va 27 EDUCATION CALENDAR COVER PHOTO: Getty Image of The New Year in banking. 10 ©2019 The Nebraska Bankers Association (NBA) | The newsLINK Group, LLC. All rights reserved. The Nebraska Bankers Association bi-monthly is published six times each year by The newsLINK Group, LLC for the Nebraska Bankers Association (NBA) and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the The Nebraska Bankers Association (NBA), its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. The Nebraska Bankers Association bi-monthly is a collective work and as such some articles are submitted by authors that are independentoftheNebraskaBankersAssociation(NBA).WhiletheNebraskaBankers Association bi-monthly encourages a first print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855.747.4003.