Pub. 9 2014-2015 Issue 5

www.nebankers.org 24 Extraordinary Service for Extraordinary Members. FCA Board Proposes Rule Limiting Compensation Disclosures In what appears to be yet another effort to reduce trans- parency within the FCS, the FCA issued a proposed rule on Oct. 9, 2014, that would exclude certain FCS employees from current reporting requirements for compensation disclosures to FCS shareholders and investors. Currently, each FCS insti- tution must “include a compensation table in its disclosures to shareholders [that] discloses the names and compensation amounts of all senior officers and any other employees who are among the fivemost highly compensated employees at the institution during the reporting period,” usually a calendar year. The intent of the proposed rule is to exclude from this reporting requirement employees who “might receive a one- time or lump-sum pension payment at the end of his or her career, briefly making him or her among the top five most highly compensated.” Of course, this is precisely the type of compensation disclosure that should be made to deter exces- sive end-of-career payouts. Best Wishes for the New Year FCW wishes its readers as well as their families, friends, associates, and customers the very best for the New Year. I join with America’s taxpaying bankers in hoping that in 2015 the FCA will become more aggressive in cracking down on lending violations by FCS institutions as well as other FCS violations of the FarmCredit Act, especially those committed by CoBank. Report FCS Lending Abuses Bankers are continuing to send FCW reports of FCS lending abuses such as FCS loans for rural estates, weekend getaways, and hunting preserves. Email reports of similar lending abuses in your market to green-acres@ely-co.com . Please provide as much detail as possible about any loan that violates the spirit, if not the law, governing FCS lending.  To contact Bert Ely, email bert@ely-co.com , phone (703) 836-4101, fax (703) 836-1403, or send mail to P.O. Box 320700, Alexandria, Va. 22320. If your bank belongs to the American Bankers Association (ABA), you can enjoy a free email subscription to FCW or you can read it monthly online at www.aba.com. To receive FCW by email or to manage your subscription, visit ABA Member Email Bulletins at www.aba.com/Tools/ Ebulletins/Pages/default.aspx. For other inquiries, please contact Barbara McCoy at the ABA at (800) BANKERS or bmccoy@aba.com.  Bert Ely — continued from page 23 Farm It Out – The ATM industry is continually changing. With increased regulatory risks, costs and liabilities, can you really a ord to own and manage your ATM channel? In order to reduce costs and operational burden, many Financial Institutions have turned to outsourcing their ATM portfolios. In the Midwest, we often use the phrase“farm it out”when we need a task completed that falls beyond our expertise. When it comes to your ATM channel,“farming it out”can help alleviate many areas of concern including hardware ownership, maintenance costs, software upgrades, cash replenishment, supplies and daily operations.“Farming it out”minimizes the risks and liabilities that come with keeping your ATM channel compliant, allowing you to put your focus back on what matters the most – e ectively running your business and keeping your customers satis ed. Hand over the reins of uncertainty to the experts and“farm it out”with NuSource Financial! Key Bene ts – • Reduces operational overhead and servicing costs • Protects against supplementary costs associated with PCI-DSS compliance • Allows FIs to keep surcharge income • Covers regulatory change requirements • Improves the effectiveness and efficiency of the self-service channel • Reduces work load on branch and central users NuSource Financial Inc. || www.nusource nancial.com || 952.942.9191 • Banking & Finance • Municipal Law • Bankruptcy • Employment Law • Business & Commercial Law • Sanitary & Improvement Districts 2120 South 72nd Street, Suite 1200, Omaha, NE 68124 (P) 402.391.6777 (F) 402.390.9221 www.crokerlaw.com Croker,Huck,Kasher,DeWitt, Anderson & Gonderinger,L.L.C. AT T O R N E Y S AT L AW Providing quality legal services to businesses and individuals in such areas as: • Real Estate • Estate Planning • Probate • Taxation • Litigation • Tax Foreclosure