Pub. 14 2019-2020 Issue 6

NEBRASKA BANKERS ASSOCIATION 5 MARCH/APRIL 2020 EDITORIAL: The Nebraska Banker seeks to provide news and information relevant to Nebraska and other news and information of direct interest to members of the NBA. 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 NBA. 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 NBA. CONTENTS ©2020 NBA | The newsLINK Group, LLC. All rights reserved. Nebraska Banker is published six times each year by The newsLINK Group, LLC for the Nebraska Banker 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 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. Nebraska Banker is a collective work and as such some articles are submitted by authors who are independent of the NBA. While Nebraska Banker 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. 10 8 PRESIDENT’S MESSAGE: CAPTURING TOMORROW’S TALENT As covered in recent editions of Nebraska Banker Magazine, one of the main challenges confronting almost every NBA member institution regardless of size and location is the ability to engage, attract and retain the next generation of Nebraska bankers. Richard J. Baier, President & CEO, Nebraska Bankers Association 10 WASHINGTON UPDATE: IMPROVING BANK-CORE RELATIONSHIPS TO HELP COMMUNITY BANKS THRIVE While we have over 5,000 banks that compete with each other, the vast majority of those banks rely on just a handful of large technology companies to provide the core processing systems that allow banks to operate every day. Rob Nichols, President & CEO, American Bankers Association 12 EDUCATION CALENDAR 14 COUNSELOR'S CORNER: UNFINISHED BUSINESS: CFPB SMALL BUSINESS LENDING RULE Since passage of the Dodd-Frank Act in 2010, bankers and community groups have been waiting for the so-called “small business lending rule.” Jeff Makovicka, Kutak Rock LLP 16 TECH TALK: HOW TO MAKE THE MOST OF YOUR ANNUAL IT AUDIT When you hear the term "bank robber," a leather-clad outlaw with a burlap bag in one hand and a pistol in the other likely comes to mind. Jon Waldman, Partner, EVP of IS Consulting, SBS CyberSecurity, LLC 18 WHEN CUSTOMER’S NEED FOR BANKRUPTCY CAN BE MANAGED FOR BANK’S BENEFIT: A PROACTIVE RESPONSE During my decades of representing both banks and debtors in bankruptcy, I’ve observed this: debtor’s bank is often the primary beneficiary of a successful business reorganization. Donald L. Swanson, Koley Jessen 22 MINIMIZE EXPOSURE FOR CYBER INCIDENTS WITH PROPER PLANNING For most banks and businesses, having a cyber incident is not going to be the end-all disaster many of you anticipate. Mitch Florea, Vice President of Marketing, NBISCO 26 BOARD OF DIRECTORS INFORMATION PACKAGE REVIEW, WHAT SHOULD BE INCLUDED? When is the last time your board reviewed the contents of the board package? Darlia Forgarty, President, Compliance Alliance 30 GLBA AND THE STATE NOTIFICATION STATUTES The Gramm-Leach Bliley Act (GLBA) contains a set of requirements for the data breach of a financial institution. Bob Kardell, Attorney at Baird Holm LLP