NEBANKERS.ORG 4 JANUARY/FEBRUARY 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. CONTENTS ©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 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 FINANCIAL LITERACY: NEBRASKA’S IN-SCHOOL SAVINGS BANKS Since arriving at the NBA in 2014, I have worked closely with the NBA Board of Directors and member banks to encourage and promote financial literacy. Richard Baier, President and CEO, Nebraska Bankers Association 12 WASHINGTON UPDATE CRYPTOCURRENCIES: UNLOCKING BANKING’S “NEW FRONTIER” In case you haven’t noticed, cryptocurrencies are an increasingly hot topic of conversation in this country. Rob Nichols, President and CEO, American Bankers Association 14 COUNSELOR'S CORNER: EMPLOYEE DATA THEFT IN THE AGE OF FDIC COMPLIANT INVESTIGATIONS Employee theft of customer data is always a concern and has become even more so as information can be condensed to digital assets, which are easily moved, copied, or downloaded. Robert Kardell, Baird Holm 18 TECH TALK: RANSOMWARE GUIDES AND HOW TO USE THEM Ransomware cyberattacks are one of the fastest-growing attack methods globally, causing many organizations to ask themselves a critical question. Have we done enough to secure our institution against a ransomware attack? Lynda Hartup, Senior Information Security Consultant, SBS CyberSecurity, LLC 22 COMPLIANCE ALLIANCE: FINCEN SEEKS COMMENTS ON CHANGES TO BENEFICIAL OWNERSHIP REPORTING In early December, the U.S. Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking implementing Section 6403 of the Corporate Transparency Act (CTA), which allowed the public until Feb. 7, 2022, to review and comment on the proposed rules. Roger Morris, Jr., JD, Hotline Advisor and Associate General Counsel 24 THE FED’S BALANCING ACT FOR 2022 On the first trading day of 2022, the U.S. 10-year Treasury Note yield jumped above 1.60%, then traded up another 10bps in the two subsequent sessions. Jeffrey F. Caughron, The Baker Group 25 EDUCATION CALENDAR 28 OVERDRAFT OVERHAUL Overdraft services are a standard banking product. Life happens, and thankfully, most banks offer an overdraft product to come to the rescue when you are on vacation and forgot to do a savings transfer, or transpose numbers when balancing your checkbook. Katie Harrison, J.D., CRCM Director
RkJQdWJsaXNoZXIy MTIyNDg2OA==