Pub. 8 2013-2014 Issue 3

www.nebankers.org 4 Extraordinary Service for Extraordinary Members. 7 Volunteers Are Our Heart & Soul A search committee of bankers has been charged with seeking out and selecting a successor for NBA President & CEO George Beattie. By George Beattie, President & CEO, Nebraska Bankers Association 9 Washington Update–It’s Time to Pay The NBA and ABA are calling on Congress to eliminate the credit union tax exemption. Resources are now available to help you share the message with lawmakers, policymakers, businesses, and your community. By Frank Keating, President & CEO, American Bankers Association 12 Counselor’s Corner–Banking Mergers & Structure Changes: A Taxing Proposition Learn about federal tax method rules and regulations applicable to banks of different sizes. By Jason Maus, Husch Blackwell LLP 16 Tech Talk–DDoS: What You Need to Know Find out what you can do to protect the bank and your customers from distributed-denial-of-service attacks. By Stephanie Chaumont, CISA, CISSP, Security+ 18 Security Officer’s By-Word–Compromised Computer Results in Internet ACH Fraud Beware of electronic scammers who are taking advantage of the convenience your bank provides to its customers. By Denise Mainquist, ITPAC Consulting 21 Rising Stars Recognition 22 Bert Ely’s Farm Credit Watch–FCS Trots Out Old Arguments to Justify Favorable Tax Treatment The Farm Credit System’s tax subsidy will cost taxpayers at least $6.44 billion over the next five years. In this time of massive federal budget deficits, it’s time for the Farm Credit System to be taxed like banks. By Bert Ely, Alexandria, Va. 24 Health Care Reform & Your NBA VEBA The NBA VEBA protects bank employees and their families from the most onerous mandates of health care reform. 26 NBA Education Calendar 9 18 September/october 2013 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 inMay 2006, is included in membership fees to the Nebraska Bankers Association. 7