CONTENTS 10 SEPTEMBER/OCTOBER 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 ENHANCING ECONOMIC OPPORTUNITIES FOR ALL NEBRASKANS Nebraska has historically been blessed with a very stable and resilient economy. Richard Baier, President and CEO, Nebraska Bankers Association 10 WILL THE FEDERAL RESERVE SELL MBS? This question is likely to garner different responses, depending on whom you ask, and a plethora of caveats. Andrea F. Pringle, The Baker Group 14 QUESTIONS, ISSUES AND STRATEGIES INVOLVED IN OPENING ACCOUNTS ONLINE The new era of opening accounts online is here. Over time, more people have opted to open accounts online instead of in person at a branch, as some of us might be used to. Sharvelle Washington, CAMS BSA/Compliance Officer Bankers’ Bank of the West 18 COUNSELOR’S CORNER THE CURRENT STATE OF RUSSIAN AND UKRAINIAN SANCTIONS: WHERE IS THE LINE OF CONTACT? WHERE IS YOUR LINE OF RISK? Although the war in Ukraine is half a world away, the fighting creates a number of issues for local banks. Robert (Bob) Kardell, Baird Holm, LLP 23 EDUCATION CALENDAR 24 TECH TALK A GUIDE TO SECURITY AWARENESS FOR CUSTOMERS National Cybersecurity Awareness Month is back in October to promote educating the nation about cybersecurity and how everyone can be safer online. Eric Chase, Information Security Consultant, Client Services – SBS CyberSecurity 26 CRYPTOCURRENCY: SAFE OR “SUS”? In today’s financial regulatory environment, two of the hottest topics are (1) cryptocurrency and (2) cybersecurity. Carol Ann Warren, Bankers Alliance 4
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