A publication for members of the North Dakota Bankers Association - February 25, 2022 Volume 22 Issue 2
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A publication for members of the North Dakota Bankers Association. Volume 22 • Issue 2 February 25, 2022 NDBA • PO Box 1438, Bismarck, ND 58502-1438 • Ph: 701.223.5303 • Fax: 701.258.0218 • Email: ndba@ndba.com • www.ndba.com
Registration
Open
Visit ndba.com.
Opening New Accounts:
Documentation and Compliance
April 13, 2022 Hilton Garden Inn, Fargo Presenter:
Suzie Jones
April 14, 2022 Courtyard by Marriott, Bismarck
March
Upcoming NDBA Events 7-9 ABA Washington Summit -
Washington DC and Virtually
MARCH 2022 APRIL 2022 21 HSA Workshop - Virtual
MAY 2022
S M T W T F S
22 IRA Essentials Seminar - Virtual
S M T W T F S S M T W T F S
23 Advanced IRAs Seminar - Virtual
1 2 3 4 5 1 2 1 2 3 4 5 6 7
Mar 29- Dakota School of Lending Principles
6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 April 2 Aberdeen SD
13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 April
20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 4-8 GSB HR Management School -
Madison WI
27 28 29 30 24 25 26 27 28 29 30 29 30 31 13-14 Opening New Accounts
Hilton Garden Inn, Fargo
Courtyard by Marriott, Bismarck
JUNE 2022 JULY 2022 AUGUST 2022 26-28 Tri-State Trust Conference -
S M T W T F S S M T W T F S S M T W T F S Delta by Marriott, Fargo
1 2 3 4 1 2 1 2 3 4 5 6 June
5 6 7 8 9 10 11 3 4 5 6 7 8 9 7 8 9 10 11 12 13 5-10 Dakota School of Banking -
University of Jamestown
12 13 14 15 16 17 18 10 11 12 13 14 15 16 14 15 16 17 18 19 20 14-15 NDBA/SDBA Annual Convention -
19 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 27 Bismarck
20-23 National School for Beginning Ag Bankers -
26 27 28 29 30 24 25 26 27 28 29 30 28 29 30 31 Black Hills State University, Spearfish SD
31
July
SEPTEMBER 2022 OCTOBER 2022 NOVEMBER 2022 17-29 Graduate School of Banking at Colorado -
Boulder CO
S M T W T F S S M T W T F S S M T W T F S
1 2 3 1 1 2 3 4 5 July 31- Graduate School of Banking at Wisconsin -
Aug 12 Madison WI
4 5 6 7 8 9 10 2 3 4 5 6 7 8 6 7 8 9 10 11 12
September 2022
11 12 13 14 15 16 17 9 10 11 12 13 14 15 13 14 15 16 17 18 19 12-15 Group Meetings - Grand Forks, Fargo,
18 19 20 21 22 23 24 16 17 18 19 20 21 22 20 21 22 23 24 25 26 Bismarck & Minot
25 26 27 28 29 30 23 24 25 26 27 28 29 27 28 29 30 October 2022
30 31 5-6 Ag Credit Conference -
Delta Hotel by Marriott, Fargo
2
CoNTeNTS
EXECUTIVE COMMITTEE
FEBRUARY 2022 EDITION 20 CHAIR CHAIR-ELECT TREASURER
LIVE WELL. WORK WELL. Christie Huber Obenauer Kathy Torske Pete Jahner
MONTHLY HEALTH & WELLNESS NEWSLET TER
Union State Bank Bravera Wealth Kirkwood Bank and Trust
Hazen Bismarck Bismarck
NDBA BOARD OF DIRECTORS
Deneen Axtman Brian L. Johnson Brad Miller
Cornerstone Bank Choice Bank First State Bank of Cando
Fargo Grand Forks Cando
29 22 Judd Graham Lori Leingang Kim Settel
Bremer Bank Bank of North Dakota Gate City Bank
Fargo Bismarck Fargo
FEATURES REDUCING YOUR STRESS DURING Take Charge of Your Stress
AMERICAN HEART MONTH Todd Heilman
Managing stress is good for your health and well-being.Taking steps to
reduce your stress will improve your overall health. Try these tips:
Jay Lies Lee Weisbeck
According to the Centers for Disease Control and Prevention (CDC), heart Western State Bank
• Simplify your schedule. If you’re feeling rushed or too busy, prioritize Choice Bank Starion Bank
12 Welcome New Associate Members
disease is the leading cause of death in the United States. In fact, half of essential items on your calendar and to-do lists.
all Americans are currently considered “at risk” for heart disease, and that Devils Lake Fargo Mandan
figure continues to rise. Due to the prevalence of the disease, February • Practice relaxation techniques. Try listening to relaxing music to help
is recognized as American Heart Month to raise awareness about heart you calm down or look into stress management or relaxation classes.
disease and prevention. To celebrate, you can focus on dialing down your
16 From the Corner Chair
stress level.
Ryan Hertz
• Get enough sleep. Adults should strive for seven to nine hours of quality
sleep each night. Patrick Lorenson
Stress and Heart Health
While there are risk factors that contribute to heart disease that you can’t Dacotah Bank
• Exercise regularly. Movement can get your blood and endorphins
Ramsey National Bank
control, there are many things you can do to maintain your heart health.
Minot
flowing, relieving stress, tension, anxiety and depression. Fargo
20 Bankers Enjoy Sunshine and Excellent Content at
One of those things is to reduce your stress. Having too much stress for too
long is bad for your heart. • Maintain social connections. It’s important to make time for friends and
family and talk with people you trust.
the Bank Management Conference If the stresses in your life become more than you can bear or manage with
these techniques, consider seeking professional assistance.
NDBA SERVICES, INC. BOARD OF DIRECTORS
22 Live Well. Work Well. Some people may handle their stress with poor health behaviors—such as
.
CHAIR
smoking, eating unhealthy foods and drinking alcohol. Such behaviors can
Jeremy Skoglund Jeff Weiler
put you at an increased risk for heart disease and stroke.
Lori Kubitz
25 Tri-State Trust Speaker Lineup
Zywave, 2022.
This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as
professional advice. Readers should contact a health professional for appropriate advice. © 2021 Zywave, Inc. All rights reserved. Bank of North Dakota First Western Bank & Trust Bank of North Dakota
Bismarck Fargo Bismarck
29 Convention Featured Speaker: Kat Perkins
VICE-CHAIR Jona Ziemann
Jamie Nelson
36 Public Pension Update Kelly Hoeven McLean Bank Holding Co. Starion Bank
The Union Bank of Glen Ullin Garrison Mandan
Glen Ullin
40 Retirement Enhancements Expected in 2022 BOARD LIAISONS
Cayle Paulson
Legislative Proposals Lois Bednar Dakota Heritage Bank Pete Jahner
Bank Forward Harvey Kirkwood Bank and Trust
Fargo Bismarck
Bernie Sinner
IN EVERY ISSUE Duane Bowman BankNorth Kathy Torske
Dakota Western Bank Casselton Bravera Wealth
2 Calendar of Events Bowman Bismarck
3 NDBA Directors & Staff
4 Articles NDBA STAFF
Rick Clayburgh Lisa Dolajak Ann Reich
14 NDBA Education Events & Webinars President and CEO Communications and SVP of Strategic Partnerships
rick@ndba.com Marketing Coordinator ann@ndba.com
44 Happenings Jackie Bauer
lisa@ndba.com
Business and Database Jolene German NDBA GENERAL
46 Banker Classifieds Coordinator Administrative Assistant COUNSEL
jackie@ndba.com jolene@ndba.com
Tracy Kennedy
Angi Day Dorothy Lick tracy@ndba.com
Mission Statement Benefits Coordinator
angi@ndba.com
SVP of Education
dorothy@ndba.com
Extraordinary Leadership for North Dakota Banks
3
BANKING
ARTICLES
Biden Administration Announces FHFA Re-Proposes Updated
‘Unprecedented’ Sanctions Seller, Servicer Eligibility
against Russia Requirements
In response to the invasion of Ukraine by Russian troops, The Federal Housing Finance Agency have re-proposed updated
President Biden announced a second round of economic standards that mortgage lenders would have to meet in order
sanctions, including those against two additional large Russian to sell loans to or service loans on behalf of Fannie Mae and
financial institutions, Sberbank and VTB Bank. Freddie Mac. The proposed update includes requirements for the
servicing of Ginnie Mae mortgages. FHFA also noted that in this
In a statement, the Treasury Department said that within 30
latest proposal, it has also incorporated feedback from a January
days, the Office of Foreign Assets Control will require all U.S.
2020 proposal, as well as lessons learned from the COVID-19
banks “to close any Sberbank correspondent or payable-through
pandemic.
accounts and to reject any future transactions involving Sberbank
or its foreign financial institution subsidiaries. Payments that Under the proposed requirements, all sellers and servicers would
Sberbank attempts to process in U.S. dollars for its clients – with be required to maintain a base net worth of $2.5 million plus
examples ranging from to technology to transportation – will 35 basis points of the unpaid principal balance for Ginnie Mae
be disrupted and rejected once the payment hits a U.S. financial servicing and 25 basis points of the unpaid principal balance for
institution.” all other 1-to-4-family loans serviced. Depository institutions
would continue to rely on their prudential regulatory standards to
OFAC will also impose full blocking sanctions on VTB Bank – a
meet the GSEs’ capital and liquidity requirements.
systemically important institution that holds nearly 20% of all
banking assets in Russia – and will immediately freeze all assets Among other things, nonbanks’ minimum capital ratio would
held in U.S. financial institutions. The sanctions also extend to 20 remain unchanged, while their minimum liquidity would rise
VTB Bank subsidiaries. from 3.5 basis points of their total agency servicing to four basis
points for GSE servicing and 10 basis points for Ginnie Mae
Additionally, OFAC will block three additional Russian banks
servicing. Comments on the proposed changes will be due in 60
– Otkritie, Novikom and Sovcom – from accessing the U.S.
days.
financial system. Treasury also announced additional debt and
equity prohibitions against 13 other state and private-owned Read more: https://www.fhfa.gov/Media/PublicAffairs/
firms operating in the financial services sector, as well as a series Documents/SE2-Proposal-FAQ.pdf
of actions targeting several Russian families with close ties to
President Putin. IRS Releases Proposed Required
Separately, OFAC also sanctioned 24 Belarusian individuals Minimum Distribution Rule
and entities for their support for and facilitation of the Russian
invasion. The IRS released its proposed required minimum distribution
rule for retirement plans and IRAs, implementing Sections 114
Read more: https://www.whitehouse.gov/briefing-room/ and 401 of the bipartisan Secure Act of 2019. The proposed
statements-releases/2022/02/24/fact-sheet-joined-by-allies-and- rule affects administrators, participants, owners, beneficiaries
partners-the-united-states-imposes-devastating-costs-on-russia/
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of plans and IRAs, as well as addresses the act’s requirements The next step, the bureau said, is to review the options to
for designated beneficiaries, trusts as plan and IRA beneficiaries determine their potential impact on small banks and businesses
including multi-beneficiary trusts, see-through trusts and conduit through initiation of the Small Business Regulatory Enforcement
trusts. Comments will be due on May 25. Review Act review process required for all CFPB rulemakings.
Read more: https://www.federalregister.gov/ Read more: https://files.consumerfinance.gov/f/documents/cfpb_
documents/2022/02/24/2022-02522/required-minimum- avm_outline-of-proposals_2022-02.pdf
distributions
CFPB Issues Factsheet on
CFPB Zeroes in on Auto Lending Calculating Interest for ARMs to
Market Satisfy QM Definition
In a new blog post, the CFPB signaled that it intends to increase The CFPB has released a factsheet on calculating prepaid interest
its focus on the auto lending market. The bureau noted that on “short-reset” adjustable-rate mortgages and step-rate loans.
prices for new and used cars have increased significantly over the The bureau's price-based General Qualified Mortgage definition
last year, and that “we expect that both the total amount of debt contains a special rule for calculating annual percentage rates on
and the average loan size will continue to increase and that larger these kinds of loans where the interest rate may or will change
car loans will put increased pressure on some consumers’ budgets within five years of the first regular periodic payment due date.
for much of the next decade.”
Read more: https://files.consumerfinance.gov/f/documents/cfpb_
Among other things, the CFPB expressed concern about loan- atrqm_prepaidinterest_factsheet.pdf
to-value ratios in the auto lending market, auto loan servicing
and collections practices and the subprime auto lending market
in particular. “We are looking to better understand potential Republican Lawmakers Call for
barriers to competition in the subprime auto lending market that Changes to CFPB’s Section 1071
may drive these and related outcomes,” the bureau said. “We will
continue to research auto lending policies and practices that may
Proposal
hinder a fair, transparent, and competitive market. And, we will Three GOP lawmakers are raising concerns about the CFPB’s
work with our counterparts at the Federal Trade Commission and pending rulemaking to implement Section 1071 of the Dodd-
the Federal Reserve Bank Board of Governors to use our collective Frank Act. Citing concerns received from industry stakeholders,
authorities to address issues in the market.” including banks of all sizes, Reps. Blaine Luetkemeyer (R-Mo.),
French Hill (R-Ark.) and Roger Williams (R-Texas) flagged
Read more: https://www.consumerfinance.gov/about-us/blog/
several issues and called on the CFPB to remedy these issues
rising-car-prices-means-more-auto-loan-debt/
within the final rulemaking.
CFPB Outlines Automated In particular, the lawmakers expressed concerns about the
potential effects of the rule on small banks and urged the CFPB
Valuation Model Rulemaking “to exclude as many small financial firms as possible,” and also
Proposals called for a longer implementation period, given the complexity
of the rule.
The CFPB has announced the next step in a joint agency
rulemaking to develop quality control standards for the use of The lawmakers also took issue with a provision of the proposed
computer models, known as automated valuation models, used to rule that would require financial institutions to guess the race of
help assess home valuations. applicants who choose not to provide their information. “Loan
officers at financial institutions have no expertise to determine the
The Dodd-Frank Act requires the bureau, the federal banking race or ethnicity of individuals, nor should they,” the lawmakers
agencies, NCUA and the Federal Housing Finance Agency to write wrote, calling for the removal of the provision. Finally, they
a rule to strengthen oversight of the models to “ensure a high level emphasized that the CFPB “must fully disclose what information
of confidence in the estimates; protect against the manipulation of will become public before the final rule is issued and must
data; avoid conflicts of interest and require random sample testing conduct a separate rulemaking process, including notice and
and reviews.” The CFPB said the computer models and algorithms comment, related to this provision of the law.”
improve valuation accuracy for mortgage lenders and appraisers,
but the bureau is concerned that automated valuation models can Read more: http://www.ndba.com/uploads/23/
pose fair-lending risks to buyers and sellers. GOP1071Letter02162022.pdf
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Crypto Assets Could be Threat to The Federal Reserve has not had an adequate supply of coin to
meet financial institution demand and has begun rationing coin
Global Financial Stability allocations as a result.
The crypto-asset market could reach a point where it presents The Federal Reserve and the U.S. Mint will use the paper as
a threat to global financial stability, according to a new report they work with a third-party consultant to review the coin
released by the Basel, Switzerland-based Financial Stability Board. supply chain and develop recommendations to improve it. In
The fast-evolving nature of crypto assets, scale, as well as the meantime, the task force continues to encourage consumers
structural vulnerabilities and “increasing interconnectedness” to keep coins circulating by spending, depositing, exchanging
with the traditional financial system could threaten global or donating them, financial institutions to deposit excess coin
financial stability, the FSB warned. The international nature inventory and retailers to accept and recirculate coins at their tills.
of crypto markets “also raise the potential for regulatory gaps, Read more: https://getcoinmoving.org/media/020922-state-of-
fragmentation or arbitrage,” according to the report. coin-paper.pdf
While the nature and use of crypto assets varies across
jurisdictions, financial stability risks could rapidly escalate, Treasury Opens CDFI Fund
the FSB said in the report, adding that there is a need for an
evaluation of possible policy responses.
Applications for 2022
The Treasury Department opened the 2022 fiscal year funding
The FSB acknowledged there are significant data gaps impeding
round for the CDFI program and the Native American CDFI
risk assessments of crypto assets, due to trading and lending
assistance program, which help provide affordable financing
platforms falling outside of regulatory boundaries and reporting
to low-income communities and populations that lack access
requirements. The FSB also warned that crypto asset participants,
to credit. For fiscal year 2022, pending final congressional
products and markets “may be failing to comply with applicable
appropriations, the CDFI Fund will make up to $204 million in
laws and regulations.”
awards.
Read more: https://www.fsb.org/2022/02/fsb-warns-of-emerging-
Read more: https://www.cdfifund.gov/news/439
risks-from-crypto-assets-to-global-financial-stability/
OCC Issues FAQs on Final Rule to Regulators Hosting Virtual
Rescind 2020 CRA Regulations Community Reinvestment
The OCC issued a set of frequently asked questions on its final
Conference
rule to rescind its 2020 Community Reinvestment Act rule and On March 15-17, the federal banking regulatory agencies
replace it with rules based on the 1995 CRA rules that were will host the 2022 virtual National Interagency Community
jointly adopted by the OCC, Federal Reserve and FDIC. Reinvestment Conference. The biennial conference offers
participants the opportunity to learn about the CRA, participate
The FAQs address qualifying activities, transition period,
in regulator-led training on CRA examinations and discuss
examination administration, assessment areas, targeted geographic
best practices, emerging ideas, and challenges in community
areas, data reporting, changes to public notices and strategic
development.
plans.
Read more: https://web.cvent.com/event/f3a7f84b-9727-42d6-
Read more: https://occ.gov/news-issuances/bulletins/2022/
a69c-ba4a85b06a3d/summary?RefId=frb-web
bulletin-2022-4.html
Coin Task Force Issues Paper on CFPB Allows Consumers to
Coin Circulation Slowdown Directly Petition for Rulemakings
The CFPB has announced a new process through which
The U.S. Coin Task Force has released a new paper on the state of
consumers may petition the bureau directly for rulemaking
the coin supply chain in the U.S. and the causes and effects of the
actions. All petitions and related materials submitted will become
coin circulation disruption that occurred during the COVID-19
part of public record and will be subject to public disclosure, and
pandemic. The paper identifies the factors that contributed to the
the CFPB will respond to petitions for the issuance, amendment
coin circulation disruption, including a significant drop in coin
or repeal of an existing rule as required by the Administrative
deposits since the outset of the pandemic, a reduction in new coin
Procedures Act.
production at the U.S. Mint in the early days of the pandemic.
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Consumers may email their petitions to petitions@cfpb.gov or highest individual median losses at $9,000, compared to $750 for
submit them to the bureau by mail or hand delivery. Petitions victims between ages 18 and 29.
should include contact information, the type of action being
Read more: https://www.ftc.gov/news-events/blogs/data-
requested, the factual and legal reasons for the proposed action
spotlight/2022/02/reports-romance-scams-hit-record-highs-2021
and the expected effects the proposed action would have on
relevant parties.
DOL Seeks Input on Climate-
In its press release, the bureau added that “[f ]ormer government
employees and other individuals who are paid to influence the Related Financial Risks for
agency’s rulemaking agenda behind the scenes will be asked to Retirement Plans
submit their petition for public inspection instead.”
The Department of Labor has filed a request for information
Read more: https://www.consumerfinance.gov/rules-policy/ seeking public input on its forthcoming work on retirement
petitions-rulemaking/ savings and climate-related financial risks. The request is intended
to assist the department in identifying steps it can take “to further
Federal Banking Regulators Urge protect the life savings and pensions of U.S. workers and families
from the threat of climate-related financial risk.” The RFI stems
SPCP Use from an executive order directing DOL to ensure the resilience of
The federal banking regulators are reminding banks and creditors retirement savings through regulatory action.
of the ability under the Equal Credit Opportunity Act and Among the questions for public comment, the RFI asks how
Regulation B to establish special purpose credit programs to DOL should address the protection of retirement savings from
meet the credit needs of specified classes of persons. SPCPs are climate-related financial risks, as well as what data should
programs designed to direct financial assistance to groups who be collected from plan sponsors, administrators and service
have historically been hindered from homeownership. The providers.
regulators said they encourage creditors to explore opportunities
to develop SPCPs. Other questions DOL is seeking information on include whether
the annual reporting Form 5500 or other form or method should
Read more: https://www.fdic.gov/news/financial-institution-
be used to collect the data, whether plan administrators should be
letters/2022/fil22008.html
required to publicly report the steps they take to manage climate-
related financial risks and the results and outcomes of any such
Romance Scam Losses Hit Record steps taken. The deadline for comments is May 15.
High in 2021 Read more: https://www.federalregister.gov/
Romance scams are on the rise, with consumers losing $547 documents/2022/02/14/2022-02798/request-for-information-on-
million to them in 2021 alone, according to new data published possible-agency-actions-to-protect-life-savings-and-pensions-from-
by the Federal Trade Commission. That figure was up 80% from threats
$307 million in 2020. The median individual loss reported in
2021 was $2,400. Household Debt Rises by $333
The FTC also found that cryptocurrency payments related to Billion in Fourth Quarter of 2021
romance scams are growing – in 2021, $139 million in losses Total household debt increased 2.2% in the fourth quarter of
reported due to romance scams were paid in cryptocurrency – 2021, rising by $333 billion to land at $15.58 trillion, the Federal
nearly five times higher than in 2020 and more than 25 times Reserve Bank of New York reported. Mortgage balances, the
higher than those reported in 2019. The median individual loss largest component of household debt, rose by $258 billion in the
reported among those who made cryptocurrency payments was fourth quarter to reach $10.93 trillion. Among non-mortgage
$9,770. The FTC noted, however, that gift cards are the most debt categories, credit card balances increased by $52 billion
common method of payment in romance scams – about one in in the fourth quarter, the largest quarterly increase on record.
four romance scam victims said they paid with a gift card. Student loans contracted by $8 billion from the prior quarter. In
The data also showed that romance scams were up across all age total, non-housing balances grew by $74 billion.
groups, though the increase was most striking for people ages As of late December, 2.7% of outstanding debt was in some stage
18 to 29, which saw a tenfold increase between 2017 and 2021. of delinquency, a two percentage point decline from the fourth
However, older victims – those 70 and older – reported the quarter of 2019, just before the COVID-19 pandemic hit the
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U.S. The share of mortgage balances delinquent 90 days or more CFPB to Scrutinize Credit Card
held at 0.5% in the fourth quarter, a historic low.
Fees, Practices
For auto loans and credit card debt, the share flowing into 90-
day delinquency declined to 1.6% for auto loans and declined In a blog post, the CFPB said it is “looking to use a long-
to 3.2% for credit card debt. The rate of serious student loan dormant authority” under Dodd-Frank Act Section 1033,
delinquency was 5%, which reflected a Department of Education which relates to consumer access to financial records, “to help
decision to report current status on loans eligible for CARES Act spur better credit card shopping and switching by proposing
forbearances. rules that give consumers more control of their financial data.”
The bureau noted that it plans to focus on uncovering “unfair,
Read more: https://www.newyorkfed.org/microeconomics/hhdc. anticompetitive practices,” making it simpler for consumers to
html compare, switch or refinance their credit card and scrutinizing
fees associated with credit card offerings.
CFPB Issues Compliance Bulletin Consumers paid roughly $117 billion in interest and fees in
on Use of Prepaid Cards for 2020, according to the blog post. That figure was down from
Government Benefits $128 billion in 2019 and $119 billion in 2018. The CFPB also
acknowledged in a previous report issued during former Acting
The CFPB has released a compliance bulletin reiterating Director Dave Uejio’s tenure that “credit cards played a vital role”
that the Electronic Fund Transfer Act and its implementing to consumers during the COVID-19 pandemic.
regulation, Regulation E, apply to government benefits accounts
Read more: https://www.consumerfinance.gov/about-us/blog/
with the exception of state and local electronic benefit transfer
programs. In addition to summarizing the regulation’s disclosure americans-pay-120-billion-in-credit-card-interest-and-fees-each-year/
requirements for government benefit accounts, the bulletin noted
that Regulation E prohibits a person from requiring a consumer Federal Court Upholds OCC,
to establish an account to receive electronic fund transfers with FDIC’s ‘Valid-When-Made’ Rules
a particular financial institution as a condition of receipt of a
government benefit. A federal district court has upheld the OCC’s and FDIC’s “valid-
when-made” rules, in separate rulings. The agencies’ rules had
While the CFPB’s press release announcing the bulletin’s affirmed that permissible interest on a loan made by a national or
publication referenced fees associated with government benefits, state-chartered bank or federal thrift remains valid when the loan
neither the bulletin nor the regulation address fees associated with is transferred or sold. After the OCC and FDIC issued separate
government benefits accounts. rules in 2020, several state attorneys general challenged both rules
Read more: https://files.consumerfinance.gov/f/documents/cfpb_ in court.
bulletin-2022-02_electronic-fund-transfer-act_2022-02.pdf The agencies’ so-called “Madden fix” rules responded to a Second
Circuit Court of Appeals ruling in Madden v. Midland Funding,
Fed Releases Synthetic ID Fraud which held that a nonbank buyer of a loan issued by a national
Mitigation Toolkit bank could not export the originated interest rate into another
state.
As instances of synthetic identity fraud – through which
fraudsters create new identities out of pieces of real or fictitious OCC Acting Comptroller Michael Hsu welcomed the district
information – become more prevalent, the Federal Reserve court’s ruling on the OCC’s rule, but cautioned that the “legal
has released a toolkit to help banks and consumers mitigate certainty” provided by the valid-when-made rule “should be
risks associated with this type of fraud. The toolkit includes used to the benefit of consumers and not be abused.” Hsu also
downloadable resources explaining the basics of synthetic identity reiterated that “predatory lending has no place in the federal
fraud, how fraudsters use synthetic identities and how to identify banking system” and that the OCC is committed to ensuring
synthetic identities. The Fed said it will add new resources to the “banks are not used as a vehicle for ‘rent-a-charter’ arrangements.”
toolkit in the future, including more on synthetic identity fraud
detection and mitigation. FDIC’s Gruenberg Shifts Agency’s
Read more: https://fedpaymentsimprovement.org/synthetic- 2022 Priorities
identity-fraud-mitigation-toolkit/
Following the departure of Jelena McWilliams from the FDIC,
Acting Chairman Martin Gruenberg outlined his agency’s shift
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in priorities for the year ahead. Gruenberg identified five primary income communities. Hsu added that he believes it is important
focus areas for the FDIC in 2022: “strengthening and enhancing” to increase the “clarity, consistency and transparency” of CRA
the Community Reinvestment Act through an interagency supervisory expectations and standards regarding activities
process; addressing the financial risks posed by climate change; that are eligible for CRA credit and how eligible activities are
reviewing the bank merger process, which according to evaluated. He also noted that CRA standards should be updated
Gruenberg hasn’t been addressed in 25 years; evaluating crypto- to reflect “changes in the business of banking,” in particular the
asset risk to determine the extent to which banking organizations increased use of mobile and internet delivery channels.
can safely engage in crypto-asset-related activities; and
Read more: https://www.occ.gov/news-issuances/speeches/2022/
implementing the capital framework commonly known as “Basel
pub-speech-2022-15.pdf
IV,” which was delayed due to the pandemic.
“While there are many pressing issues the FDIC will have to PPP Borrowers May Request
address this year,” he said, these priorities “will require close
collaboration among the federal banking agencies.” Review of Partially Forgiven
With respect to climate change, Gruenberg said the agency Loans
will seek “public comment on guidance designed to help banks The SBA announced that it will allow Paycheck Protection
prudently manage these risks, [establish] an FDIC interdivisional, Program borrowers to request a loan review by SBA when the
interdisciplinary working group on climate-related financial lender determines that the borrower is entitled to only partial
risks, and [join] the international Network of Central Banks and forgiveness of the PPP loan. Under a procedural notice issued by
Supervisors for Greening the Financial System.” SBA, when a lender receives a forgiveness remittance from SBA
Read more: https://www.fdic.gov/news/press-releases/2022/ on a loan where only a portion of the PPP loan was forgiven,
pr22015.html the lender must inform the borrower that it has 30 calendar days
to seek, through the lender, an SBA loan review of the lender’s
partial approval decision. SBA retains discretion to accept or
FASB Rejects Further CECL Delays deny the borrower’s request to review the loan. If SBA selects the
The Financial Accounting Standards Board has rejected a proposal loan for review, the loan is not deferred and the borrower must
to delay the current expected credit loss (CECL) accounting continue to make payments on the remaining balance of the loan.
standard for those banks that have yet to adopt it. Therefore, SBA also advised that by Feb. 26, lenders must notify all of their
CECL will become effective for smaller SEC registrants and borrowers of loans that previously received a partial forgiveness
private companies on January 1, 2023. During its meeting, decision that the borrower has 30 calendar days to seek, through
FASB board members also expressed support for simplified the lender, an SBA loan review of the lender’s partial forgiveness
methodologies, including the Federal Reserve Board’s “SCALE” decision.
methodology. SCALE, which largely relies on peer allowance
coverage ratios, was introduced by the Fed to make CECL SBA advised that it will be providing lenders with additional
scalable for community banks. guidance through the platform, including step-by-step
instructions.
Acting Comptroller Indicates Read more: https://www.sba.gov/document/procedural-notice-
Agencies Will Issue CRA NPR 5000-827666-sba-loan-reviews-paycheck-protection-program-lender-
partial-approval-forgiveness-decisions
Soon
In public remarks, Acting Comptroller of the Currency Michael OCC Issues Bulletin on
Hsu indicated that he expects the OCC, FDIC and the Federal Considering State Community
Reserve will issue a proposal to update and modernize the
Community Reinvestment Act (CRA) regulations in the “not- Reinvestment Law Complaints
too-distant future.” The Fed’s 2020 advance notice of proposed The OCC has issued a bulletin outlining its processes for
rulemaking (NPR) on CRA modernization is serving as the basic considering input from state banking commissioners regarding
framework for the interagency conversations about the proposal. national banks’ performance under state community reinvestment
He also noted that the revised regulations will help increase levels laws, including implementation of community reinvestment-
of CRA activity to help address existing disparities and ensure that related provisions of the Riegle-Neal Act. (The OCC noted that
banks are being responsive the local needs of low- and moderate- Riegle-Neal does not apply to federal savings associations.) The
9
aRTiCLeS
bulletin also addresses expectations regarding the handling of IRS Releases FAQs to Help
consumer complaints that state officials refer to national banks
and federal savings associations, as well as state referrals of Taxpayers Prepare 2021 Returns
complaints to the OCC. The Internal Revenue Service has published a series of frequently
The bulletin, which rescinds two previous advisory letters, asked questions to assist taxpayers who received the advance
outlines OCC policies and procedures in these areas, provides child tax credit or who were eligible to receive the child tax credit
an email address for state banking commissioners to submit in preparing their 2021 tax returns. The FAQs address child
input to the OCC, provides general guidance for banks on tax credit basics, eligibility rules for claiming the tax credit and
handling consumer complaints that state officials refer to banks commonly asked immigration-related questions.
and provides updated mailing addresses for the OCC’s customer Read more: https://www.irs.gov/newsroom/irs-issues-2021-filing-
assistance group and the OCC’s chief counsel’s office. season-frequently-asked-questions-information-to-help-taxpayers-
Read more: https://occ.gov/news-issuances/bulletins/2022/ preparing-their-2021-returns
bulletin-2022-2.html
FOMC to End Asset Purchases by
CFPB Probes for Information on Early March
Financial Product Fees The Federal Reserve will continue to reduce the monthly pace
The CFPB has issued a request for information seeking comments of asset purchases and bring them to an end in early March,
on fees associated with financial products and services offered by according to the latest Federal Open Market Committee
banks and non-bank financial institutions, including overdraft statement. Fed Chairman Jerome Powell said inflation remains
fees, insufficient funds fees, credit card fees, remittance fees, well above the Fed's longer-run goal of 2% and that supply and
prepaid account fees and mortgage fees, among others. demand imbalances related to the pandemic and the reopening
of the economy have continued to contribute to elevated levels of
The bureau said it would use the feedback received from the inflation.
RFI to “assist the CFPB and policymakers in exercising its
enforcement, supervision, regulatory and other authorities In a press conference after the release of the FOMC statement,
to create fairer, more transparent and competitive consumer Powell said he does not expect supply chain issues to be
financial markets.” completely worked out by the end of this year but does expect
progress to be made in the second half of the year.
A joint statement by seven financial trade groups, called the
CFPB’s effort “misguided,” noting that it paints a “distorted and The committee also said it would continue to hold the target
misleading picture” of the nation’s financial services marketplace. range for the federal funds rate at its current level of zero to
“Multiple federal laws and the CFPB's own rules already require 0.25%, but noted that they expect “it will soon be appropriate
banks, credit unions and other providers of consumer financial to raise the target range for the federal funds rate.” The FOMC
services to disclose terms and fees in a clear and conspicuous reiterated that the path of the economy continues to depend on
manner, and our members do so each and every day,” the groups the course of COVID-19. The statement added that indicators of
said. “Consumers in this country know they have a wide range of economic activity and employment have continued to strengthen
choices when it comes to financial services products, and those and the sectors most adversely affected by the pandemic have
businesses compete every day, including on fees. We look forward improved in recent months but are now being affected by the
to responding to this request for information with facts and recent sharp rise in COVID-19 cases.
perspective sadly lacking from today's announcement.” The Fed also issued principles for how it plans to unwind its
Comments on the RFI will be due March 31. balance sheet, and reaffirmed its longstanding statement on its
longer-run monetary policy goals, which target an inflation rate
Read more: https://files.consumerfinance.gov/f/documents/cfpb_ of 2%.
avm_outline-of-proposals_2022-02.pdf
Read more: https://www.federalreserve.gov/newsevents/
pressreleases/monetary20220126a.htm
10aRTiCLeS
Fed Releases Report on US services, the survey found, with 29% saying that they expect to
add these services within the next 18 months.
Central Bank Digital Currency
A top concern for community banks was talent management,
The Federal Reserve has released a report that details the potential the survey found, with 74% rating it as a primary concern.
benefits and risks of creating a US central bank digital currency Nearly half said a labor shortage is a factor in talent management
(CBDC). The Fed’s report did not take a position on creating a and 67% said they are “extremely concerned” about employee
CBDC; however, the Fed did indicate that it “will continue to retention and recruitment.
explore a wide range of design options.”
Read more: https://www.wipfli.com/-/media/wipfli/downloadable-
The report notes that a CBDC “would best serve the needs of the files/FI-State-of-Community-Banking-2022-Outlook.pdf
United States by being privacy-protected, intermediated, widely
transferable and identity-verified.” An intermediated model
through which the private sector would facilitate the management CFPB Report Finds Banks
of CBDC holdings and payments through accounts or digital Providing Most Public D&I
wallets is one of the potential structures the Fed has considered Information of Financial Services
and the report states that such a model “would facilitate the use
of the private sector’s existing privacy and identity-management Firms
frameworks; leverage the private sector’s ability to innovate; and In a report issued by the CFPB’s Office of Minority and Women
reduce the prospects for destabilizing disruptions to the well- Inclusion, the agency found that banks and other depository
functioning US financial system.” institutions have the highest amount of publicly available
However, the agency did acknowledge that a CBDC could, information about diversity and inclusion in the financial services
depending on its design, “fundamentally change the structure sector. The report also found that few organizations in financial
of the US financial system, altering the roles and responsibilities services besides banks had either a dedicated diversity and
of the private sector and the central bank.” Ultimately, the Fed inclusion executive or any formal body directing DEI initiatives.
concluded that it “does not intend to proceed with the issuance In addition, the CFPB noted that banks had the most supplier
of a CBDC without clear support from the executive branch diversity in the financial services sector with nearly 60 percent
and from Congress, ideally in the form of a specific authorizing of institutions surveyed having minority and women-owned
law.” The paper also requests public feedback on these topics and business programs. The Bureau also found that almost half of
comments will be accepted until May 20. sampled banks published information on their diversity and
Read more: https://www.federalreserve.gov/publications/files/ inclusion strategic plans.
money-and-payments-20220120.pdf The CFPB plans to use the data collected as part of the report
to provide examples of diversity and inclusion best practices,
Community Banks Keeping resources, and peer success stories to financial institutions.
Branches Open Read more: https://files.consumerfinance.gov/f/documents/cfpb_
diversity-inclusion-within-financial-services_report_2022-01.pdf
Community banks are keeping bank branches open, with 84%
responding to a recent survey that they have not closed a single
branch in the past 12 months. The State of Community Banking
survey issued by consulting firm Wipfli also found that 32% of
community banks have their farthest branches 10-20 miles from
their headquarters and 23% have their farthest branches more
than 41 miles away from their headquarters.
The survey of 177 community banks in 33 states also found that
community banks are increasing the services they offer, with
77% responding that they have added wealth advisory services
in the past three years. Fifty-six percent of banks responded that
they have added trust services in the last three years and the same
percent said that they have added insurance services in that time.
Community banks are also exploring adding cryptocurrency
11Welcome
NDBA’s New Associate Members
Keenan & Partners Superior IRA & HSA, LLC
Contact: Tom Keenan Contact: Jason Bain
4916 SE Hill Rd 44121 365th St
Portland, OR 97267-1701 Ottertail, MN 56571-9476
Keenan & Partners is a business partner specializing in Superior IRA & HSA, LLC is revolutionizing the landscape
the repositioning of branch and admin facility real estate of IRA and HSA programs, bringing industry veterans
for community banks. Specialized services offered include: with decades of deep compliance expertise together with a
Branch footprint cost benefit analyses, valuation and sale cutting edge fintech platform.
of Facilities Real Estate, existing lease analysis and exit Superior’s software platform is built from the ground up
negotiations, branch de novo: new site analysis, selection, to provide unprecedented simplicity and efficiency for
and acquisition negotiation, administrative facility and back your branch staff, providing peace of mind with the best
office square footage analysis and needs review, excess land compliance support available. Our cloud-based solution
and facility sales, sale/leaseback exit strategies, deposit sales offers scale and open API connectivity on an unprecedented
strategies, and shrink in place strategies for the downsizing level. Our technology upgrades your bank’s ability to
of existing branch spaces. Founded in 2010, Keenan & create and assign custom user roles for more efficient and
Partners has completed more than 200 branch valuation and compliant branch-level operations and creates an improved
repositioning assignments for its community banking clients customer experience.
since 2014.
Superior raises the bar even further by offering modernized
compliance support in formats that do not currently exist
with other providers. We have created additional technical
support options by adding live, online chat and email
to the traditional phone support that is offered by other
providers.
Exceptional service. Today’s technology. Superior results.
NDBA encourages member banks to utilize
the products and services provided by
NDBA Associate Members. Each Associate
Member is approved by the NDBA Board of
Directors.
If you should have any questions or would
like more information on the North Dakota
Bankers Association’s Associate Members,
please contact Ann Reich at 701.223.5303 or
ann@ndba.com.
12CONSULTING | NETWORK SECURITY | IT AUDIT | EDUCATION
Rick Olivier | rick.olivier@sbscyber.com
605-270-3321 (call or text)
13North Dakota Bankers Association
Education Events
For more information regarding these educational opportunities,
visit www.ndba.com or contact Dorothy Lick, SVP of Education,
North Dakota Bankers Association, 701.223.5303.
EVENT DATE LOCATION WHO SHOULD ATTEND?
HSA Frontline March 21 Virtual via Zoom Attend the HSA Seminar for practical
understanding of critical rules and operational
Fundamentals issues of a successful HSA program.
IRA Essentials March 22 Virtual via Zoom The IRA seminar will cover basic rules of IRAs
and serve as a refresher on IRA rules and
operations.
Advanced IRAs March 23 Virtual via Zoom The Advanced IRA seminar will build on
attendees’ basic IRA knowledge to address some
of the more complex IRA issues that banks may
handle. Previous IRA knowledge is assumed.
Dakota School of March 29-April 1 Aberdeen SD Loan officer trainees, loan support personnel and
personal bankers.
Lending Principles
Opening New April 13 Hilton Garden Inn, Fargo All customer contact personnel, supervisors and
Accounts: April 14 Courtyard by Marriott, Bismarck officers whose responsibilities include opening
or managing new accounts and certificates of
Documentation & deposit.
Compliance
Tri-State Trust April 26-28 Delta Hotel by Marriott Trust officers, trust attorneys, CTFAs, and CFPS.
Conference Fargo ND
Dakota School of June 5-10 University of Jamestown, Attendees are generally first-or mid-level
Jamestown ND managers seeking advancement in their banks
Banking and careers. However, others who would
benefit from exposure to the banking industry
and increased familiarity with the individual
components that make up a bank are also
encouraged to attend.
NDBA/SDBA Annual June 14-15, 2022 Bismarck ND Presidents, CEOs, senior management staff,
lenders, marketing team members and sales
Convention managers.
14Upcoming
Bank Webinars NDBA offers convenient bank training and access
to timely topics through a variety of webinars.
EVENT DATE EVENT DATE
Loan Denials & Other Adverse March 1 Opening New Accounts Part III: March 11
Action Notices Trust and Fiduciary
BSA Emerging Issues March 1 Residential Construction March 14
Lending
Opening New Accounts Part I: March 2
Personal/Consumer Accounts Responsibilities of the March 15
Information Security Officer
Opening New Accounts - 3-Part March 2
Series Regulation CC - Annual Staff March 15
Training
Consumer Real Estate Loans March 2
Wire Transfer Compliance March 16
IRA Reporting - Annual Update March 3
CRA - Review and Update March 16
A Passion for Women in March 3
Leadership - Encouraging the Writing New Account March 17
Next Generation of Women Procedures
Leaders Regulation B: The Equal Credit March 17
CECL in the Call Report March 4 Opportunity Act
Work Appearance, Dress Codes March 7 Ransomware, Phishing, March 18
and Employer's Liability for Business Email Compromise,
Being Out of Fashion Oh my! Is Your Incident
Response Plan Ready
The Four Cs of Exceptional March 8
Supervision Understanding the Basics of March 21
Cryptocurrency Including Red
The UCC for Lenders March 8 Flags
Escrows March 9
For more information, visit www.ndba.com and
Basic Excel Skills for March 9
click on “Education” and then “Web Seminars.”
Accountants
IRA Beneficiary Payout Options March 10
Opening New Accounts Part II: March 10
Business Accounts
15From the CORNER CHAIR
Christie Huber Obenauer | NDBA CHAIR | Union State Bank, Hazen
You know how it feels when you have been gone for a couple of days, and you return
to your office decorated with piles of mail, a fresh tsunami of emails, and a line of
people at your office door? And you love them, and it, and your purpose, and your
quickly-fading tan on your face, but you wonder inside of yourself why you ever try to
leave the office for more than one day…..ever?
Yeah. I have a feeling that you are intimately familiar with this feeling, and I am
so there right now. But for those of you who joined me at the Bank Management
Conference in Scottsdale last week, I bet you also still have a smile on that tanned
face remembering how great it was to reconnect with everyone, and find new
inspiration and renewed drive from our incredible speakers, and from conversations
with friends and colleagues you have missed seeing – and from meeting new faces of
people who are in our sandbox with us.
It was fantastic, actually. This is my opportunity to shout out a big THANK YOU to our
NDBA staff for organizing a truly incredible conference, at a truly incredible space,
where we were reminded in all the best ways why we do what we do, and why we
do it together. Thank you to our Past Chairs who joined us for dinner. As I said that
night, you blazed the trails before us and we are doing our best to carry that torch
forward and continue your legacy of innovation, and servant-hearted leadership.
Thank you also to our partners who joined us – American Bankers Association, Arctic
Wolf Networks, Ascensus, The Baker Group, Bell Bank, BHG Bank Group, Colliers
Securities, D.A.Davidson & Co., Dakota Carrier Network, Graduate School of Banking -
Wisconsin, IntraFi Network, MBIS, NDBA Services, Raymond James, SBS Cybersecurity,
SHAZAM, and UMB Bank. We know that collaboration and partnership is what it is
going to take to succeed in this industry that is metamorphosing as quickly as we can
pivot.
We have more opportunities to gather in the next couple of months. I am so looking
forward to those opportunities. Be sure to check the Events Calendar (page 2),
and take a moment to look at the pictures of your fellow community bankers who
gathered in this past month. Each of you inspire me to lean in, and continue to shape
the future we are navigating toward.
Onward!
16SDBA/NDBA Registration now at sdba.com
2022 Dakota School
of Lending Principles
March 29 - April 1, 2022 | Best Western Ramkota Hotel, Aberdeen, S.D.
The SDBA/NDBA Dakota School of Lending Principles is a learning event
with one foot grounded in the classroom and one foot in the bank.
This school allows students to learn the theory and process of basic lending
and then put this knowledge to work in actual nuts and bolts sessions.
17Webinar Series
Register Now Presented by:
at ndba.com
Webinar Series
First Wednesday of each month
11:00-11:45 am CT
18The key to our success is partners like you.
As NDHFA celebrates 40 years, we thank
all of you for your connnued dedicaaon
to creaang affordable homeownership oppons.
Partner with Bell for:
Reg. O loans to bank employees, insiders or directors
Holding company loans and lines of credit
Bank stock and ownership loans Callie Schlieman
Equipment financing Call me at 701.433.7430
Participation loans Based in Fargo, N.D., specializing in
bank stock and Regulation O lending
YOUR BANKING PARTNER
FOR LOANS
OF ANY
SIZE
34599
Member FDIC
34599 AD North Dakota Bankers Association 2022_Callie Schlieman.indd 1 2/10/22 5:26 AM
19The NDBA and NDBA Services boards of
directors met on Thursday, February 17.
Back Row: Pete Jahner, Kirkwood Bank & Trust
Co., Bismarck; Lee Weisbeck, Starion Bank,
Mandan; Bernie Sinner, BankNorth, Casselton;
Jona Ziemann, Starion Bank, Mandan; Tory Hart,
Bank Forward, Jamestown; Drew Olafson, United
Valley Bank, Cavalier
3rd Row: Rick Clayburgh, NDBA, Bismarck; Ryan
Hertz, Dacotah Bank, Minot; Cayle Paulson, Dakota
Heritage Bank, Harvey; Jeff Weiler, Bank of North
Dakota, Bismarck; Ann Reich, NDBA, Bismarck
2nd Row: Brian L. Johnson, Choice Bank, Grand
Forks; Lori Leingang, Bank of North Dakota,
Bismarck; Kathy Torske, Bravera Wealth, Bismarck;
Jeremy Skoglund, Bank of North Dakota, Bismarck;
Deneen Axtman, Cornerstone Bank, Fargo; Kelly
Hoeven, The Union Bank of Glen Ullin; Jay Leis,
Choice Bank, Fargo
Front Row: Dorothy Lick, NDBA, Bismarck; Jeff
Leuthold, American State Bank & Trust Company
of Williston; Pat Lorenson, Ramsey National Bank,
Fargo; Duane Bowman, Dakota Western Bank,
Bowman; Joe Watzke, Bell Bank, Moorhead MN;
Christie Huber Obenauer, Union State Bank, Hazen
Bankers Enjoy Sunshine and Excellent
Content at Bank Management Conference
Warm weather, sunshine, and an amazing resort welcomed 140 Special thanks to the sponsors whose support and partnerships
bankers, business partners, spouses and guests who attended made this event possible:
the 2022 NDBA/SDBA Bank Management Conference, Platinum:
held February 18-19 at The Westin Kierland Resort & Spa in Ascensus
Scottsdale, AZ. The Baker Group
Bell Bank
The conference program featured presentations on trends BHG Bank Group
changing banking, the fight against phishing, information Colliers Securities
on cryptocurrency, hot mobile banking apps, 2022 market Federal Home Loan Bank of Des Moines
conditions, and legal updates from speakers Chris Nichols of IntraFi Network
Midwest Bankers Insurance Services
SouthState Bank, Jon Burmeister of Fiserv, Jon Waldman of
NDBA Services
SBS Cybersecurity, Dave DeFazio from StrategyCorps, NDBA SBS CyberSecurity
General Counsel Tracy Kennedy, and Jeff Caughron of The
Baker Group. NDBA Chair Christie Huber Obenauer and Gold:
American Bankers Association
SDBA Chair Kristina Schaefer shared thoughts on leadership
Arctic Wof
for the future. Conference of State Bank Supervisors (CSBS)
For the final general session, all gathered for an inspirational D.A. Davidson & Co.
presentation by former FBI agent Cassi Chandler of Vigeo Dakota Carrier Network
Graduate School of Banking at the University of Wisconsin-Madison
Alliance. Cassi encouraged attendees to lead by serving and
Raymond James
embrace forming connections toward common goals. SHAZAM
UMB Bank
20NDBA Past Chairmen Attend Special Dinner
Left to Right: Christie Huber Obenauer, Steve
Rehovsky, Tom Stennes, Tim Hennessy, Lorren
Henke, Todd Steinwand, Greg Schwab, Vaune
Johnson, Corey Cleveland, Roger Monson, Tim
Siegle, Roger Berglund, Jerry Willer, Harvey
Huber, and Les Nesvig
21FEBRUARY 2022 EDITION
LIVE WELL. WORK WELL.
MONTHLY HEALTH & WELLNESS NEWSLET TER
REDUCING YOUR STRESS DURING Take Charge of Your Stress
Managing stress is good for your health and well-being.Taking steps to
AMERICAN HEART MONTH reduce your stress will improve your overall health. Try these tips:
According to the Centers for Disease Control and Prevention (CDC), heart • Simplify your schedule. If you’re feeling rushed or too busy, prioritize
disease is the leading cause of death in the United States. In fact, half of essential items on your calendar and to-do lists.
all Americans are currently considered “at risk” for heart disease, and that
figure continues to rise. Due to the prevalence of the disease, February • Practice relaxation techniques. Try listening to relaxing music to help
is recognized as American Heart Month to raise awareness about heart you calm down or look into stress management or relaxation classes.
disease and prevention. To celebrate, you can focus on dialing down your
stress level. • Get enough sleep. Adults should strive for seven to nine hours of quality
sleep each night.
Stress and Heart Health
While there are risk factors that contribute to heart disease that you can’t • Exercise regularly. Movement can get your blood and endorphins
control, there are many things you can do to maintain your heart health. flowing, relieving stress, tension, anxiety and depression.
One of those things is to reduce your stress. Having too much stress for too
long is bad for your heart. • Maintain social connections. It’s important to make time for friends and
family and talk with people you trust.
If the stresses in your life become more than you can bear or manage with
these techniques, consider seeking professional assistance.
.
Some people may handle their stress with poor health behaviors—such as
smoking, eating unhealthy foods and drinking alcohol. Such behaviors can
put you at an increased risk for heart disease and stroke.
Zywave, 2022.
This article is intended for informational purposes only and is not intended to be exhaustive, nor should any discussion or opinions be construed as
professional advice. Readers should contact a health professional for appropriate advice. © 2021 Zywave, Inc. All rights reserved.
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