Pub. 15 2020-21 Issue 6

NEBRASKA BANKERS ASSOCIATION 5 MARCH/APRIL 2021 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 bi-monthly publication in May 2006, is included in membership fees to the NBA. CONTENTS ©2021 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 publ ication are those of the individual authors and do not necessari ly 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 reprintedwithout prior written permission. For further information, please contact the publisher at 855.747.4003. 12 8 PRESIDENT’S MESSAGE: A NEW COMPLIANCE OPTION A common frustration shared by our members regardless of their size, geography, or business model is complying with the ever-growing rules and regulations imposed by various regulatory agencies. Richard J. Baier, President and CEO, Nebraska Bankers Association 10 WASHINGTON UPDATE: A ROBUST RECOVERY REQUIRES CONSISTENT “RULES OF THE ROAD” Throughout the pandemic, the U.S. economy has been tested like never before and has more than proven its resilience. Rob Nichols, President and CEO, American Bankers Association 12 COUNSELOR'S CORNER: COLLECTING YOUR LOAN FROM AN INSOLVENT PROBATE ESTATE When a person dies while indebted and estate assets appear insufficient to pay all the debts, lenders may want to look carefully at the probate process. Randy Wright and Jesse Sitz, Partners, Baird Holm, LLP 16 TECH TALK: CUSTOMER CYBERSECURITY AWARENESS – CREATING A CULTURE OF SECURITY While most organizations think through the direct risk of cyber threats to their business via cyber attacks, known vulnerabilities , and security flaws, not many organizations recognize the risk posed by their customers. Eric Chase, Information Security Consultant, SBS CyberSecurity, LLC 20 THE NATIONAL DEFENSE AUTHORIZATION ACT: BSA/ AML INITIATIVES The reason for hope is the section within the legislation dedicated solely to improvements to anti-money laundering rules. Elizabeth K. Madlem, Vice President of Compliance Operations, Compliance Alliance 22 RIDING THE LIQUIDITY WAVES Before the COVID-19 pandemic took hold on the world and the United States, many community bankers watched the slow fall of their on-balance sheet liquidity. Dale Sheller, Senior Vice President, Financial Strategies Group, The Baker Group 24 EDUCATION CALENDAR