Pub. 14 2019-2020 Issue 1

NEBRASKA BANKERS ASSOCIATION 5 MAY/JUNE 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 ©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. 16 7 PRESIDENT’S MESSAGE – NBA ANNUAL UPDATE The NBA has finalized the 2018-19 fiscal year reporting a strong financial recap in addition to many other membership highlights. Richard J. Baier, President & CEO, Nebraska Bankers Association 10 2019 NBA CONVENTION: PUTTING OUR BEST FOOT FORWARD The Annual Convention marks the beginning of the new fiscal year for the NBA in addition to the turnover of leadership. 12 WASHINGTON UPDATE - SOLVING THE BANKING INDUSTRY’S CANNABIS CONUNDRUM While there is still a healthy — and appropriate — debate on whether cannabis should be legalized at the federal level, there is growing consensus that something must be done to address the cannabis conundrum affecting banks. Rob Nichols, President & CEO, American Bankers Association 14 EDUCATION CALENDAR 16 COUNSELOR'S CORNER – AN OUNCE OF PREVENTION: BUSINESS CONTINUITY AND INCIDENT RESPONSE IN TECHNOLOGY SERVICE PROVIDER CONTRACTS Being old and lame of my Hands, and thereby uncapable of assisting my Fellow Citizens, when their Houses are on Fire; I must beg them to take in good Part the following Hints on the Subject of Fires. Bryan Handlos, Kutak Rock LLP 20 TECH TALK - YOU ARE A TECHNOLOGY COMPANY CHANGING YOUR PERSPECTIVE ON TECHNOLOGY AND BUSINESS As your organization is reviewing its strategic plans, take a moment to evaluate the use of technology as a core component of your business. Jon Waldman, Partner, EVP of Information Security Consulting - SBS CyberSecurity, LLC 22 BERT ELY’S FARM CREDIT WATCH In its recently issued Annual Information Statement for 2018, the FCS reported after-tax profits for 2018 of $5.33 billion and $272 billion of loans outstanding at Dec. 31, 2018, up 5.1% from year-end 2017. Bert Ely, Alexandria, Va 24 MARIJUANA BANKING IN 2019 Last year the most frequently asked topic over at Compliance Alliance was, without a doubt, beneficial ownership. Silvia Garcia Maggio, Deputy General Counsel