Pub. 14 2019-2020 Issue 2

NEBRASKA BANKERS ASSOCIATION 5 JULY/AUGUST 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. 14 7 PRESIDENT’S MESSAGE – CONTRIBUTING TIME, TALENT AND TREASURE At a recent conference, I had the opportunity to hear from a newly retired Ohio banker about the importance of community banking and leadership. Richard J. Baier, President & CEO, Nebraska Bankers Association 8 NEBRASKA BANKERS SERVING THE GREATER GOOD It is not rare to see Nebraska bankers contribute their time, talents and resources to serve the greater good within each community across our state. 10 WASHINGTON UPDATE - REFRAMING THE CREDIT UNION DEBATE For too long, banks with legitimate concerns about unbridled credit union growth have been portrayed as Goliath picking on David. Rob Nichols, President & CEO, American Bankers Association 12 EDUCATION CALENDAR 14 COUNSELOR'S CORNER – NINE BOLD RULES TO GET THE MOST OUT OF YOUR CONTRACTING PROCESS (PART 1 OF 2) Contracts are overrated. In nine cases out of ten you will be able to resolve problems with your business partners based on your business relationship and practical leverage with them. Bryan Handlos, Kutak Rock LLP 20 TECH TALK - QUARTERLY FIREWALL AUDITS: WHAT DO I NEED TO DO? When financial institutions are working on their FFIEC Cybersecurity Assessment, there are a few Baseline declarative statements that everyone seems to struggle with. Jeff Dice, Information Security Consultant- SBS CyberSecurity, LLC 24 BERT ELY’S FARM CREDIT WATCH As bankers know all too well, farmers and ranchers are suffering from a sustained period of low commodity prices, rising input costs, heavy rains and flooding, and more recently, trade issues that are harming agricultural exports. Bert Ely, Alexandria, Va 26 MUCH TO DO ABOUT PRIVATE FLOOD The first proposed rule that was released in October 2013 introduced the requirements for accepting private flood insurance that meets the definition under the Biggert-Waters Act. Daniela Clark, Associate General Counsel, Compliance Alliance