CONTENTS 10 NOVEMBER/DECEMBER 2022 EDITORIAL: Nebraska Banker seeks to provide 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 NBA. 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 bimonthly publication in May 2006, is included in membership fees to the NBA. ©2022 NBA | The NewsLINK Group, LLC. All rights reserved. Nebraska Banker is published six times each year by The newsLINK Group, LLC for the 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. 8 PRESIDENT’S MESSAGE RETAINING TOP TALENT As noted in previous NBA Magazine columns, attracting and retaining top talent at NBA member banks is a primary focus. Richard Baier, President and CEO, Nebraska Bankers Association 10 RIDING OUT THE STORM FOCUS ON INTEREST RATE RISK MANAGEMENT In the wake of unprecedented changes in market conditions and a historic jump in interest rates, regulators can be expected to focus on interest rate risk management in coming examinations. Jeffrey F. Caughron, Chairman of the Board, The Baker Group 14 WASHINGTON UPDATE REINING IN A REGULATOR GONE ROGUE In an American Banker op-ed earlier this year, I called out the CFPB under the leadership of Rohit Chopra as a “regulator gone rogue.” Rob Nichols, President and CEO, American Bankers Association 18 COUNSELOR’S CORNER THE CENTURY’S LARGEST FARM FRAUDS AND WHAT WE CAN LEARN FROM THEM The farming community enjoys a reputation for hard work, honesty and integrity. As with any community, there are exceptions, and the category of “Farmers Engaged in Fraud” is one of those. Randy Wright, Baird Holm, LLP 23 EDUCATION CALENDAR 24 TECH TALK RISK ASSESSMENTS WORK BETTER TOGETHER When “risk assessment” is mentioned in the information technology or information security crowd, IT risk assessment is typically the first thing that comes to mind. Jon Waldman, EVP Information Security Consulting, SBS CyberSecurity; President, SBS Institute 26 CFPB TO FURNISHERS: KNOW YOUR ROLE! On Sept. 13, 2022, the Consumer Financial Protection Bureau (CFPB) filed an amicus brief regarding a district court case decided between a consumer plaintiff and a credit reporting agency defendant. Prince Girn, JD, Associate General Counsel, Compliance Alliance 4
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