8:00 – 8:45 a.m.
IN-PERSON CHECK-IN & CONTINENTAL BREAKFAST  - OR -  JOIN ONLINE

8:45 – 9:00 a.m.
Welcome & Introduction
– Karen L. Grandstrand & Joseph T. Green, Institute Co-Chairs

9:00 – 9:45 a.m.
KEYNOTE ADDRESS
Regional Economic Conditions and Their Impact on the Banking and Financial Services Industries
Joe Mahon, Director of Regional Outreach at the Federal Reserve Bank of Minneapolis, will provide an overview of current economic conditions in the Ninth District – an area that covers Minnesota, North and South Dakota, Montana and portions of Wisconsin and Michigan. He will focus on economic activity, inflation and employment and how these current conditions are impacting the financial services and banking industries and the Fed’s regional outlook for 2022 and beyond.
– Joe Mahon

9:45 – 10:30 a.m.
The Corporate Transparency Act: Challenges and Opportunities
The Corporate Transparency Act (CTA) is the culmination of a multi-year effort to enact legislation that would establish an obligation for legal entities to report information on their beneficial owners and a national registry of beneficial ownership information. When fully implemented, it will be a major step forward toward achieving greater financial transparency and assist law enforcement’s efforts to combat money laundering and other financial crimes. But the Act also raises significant questions for financial institutions, which are already required to identify and verify the identities of the beneficial owners of their legal entity customers under FinCEN’s Customer Due Diligence Rule (which the Act requires FinCEN to revise). At this point, it is an open question whether the CTA will be a benefit or an additional new compliance burden for financial institutions. Learn what the CTA means for you and your clients.
– Daniel P. Stipano

10:30 – 10:45 a.m.
BREAK

10:45 – 11:30 a.m.
Mergers & Acquisitions in Banking – An Overview of the Latest Trends and Challenges
The banking sector has experienced many significant mergers and acquisitions over the last few years. These M&As have happened for many different reasons, such as adding more advanced solutions, gaining deposits or supplementing bank talent. Whatever the reasons, with each new deal, the financial industry is affected. This panel discussion will explore the latest trends and challenges in bank mergers to help you understand and stay informed in this ever-changing environment.
– Scott A. Coleman & Anton J. Moch
– Karen L. Grandstrand (moderator)

11:30 a.m. – 12:15 p.m.
An Industry Perspective: Key Trends and Developments in Minnesota Banking
An update on important legislative and regulatory developments in Minnesota banking and what to expect going forward. 
– Teresa E. Rice & Joseph J. Witt

12:15 – 1:15 p.m.
LUNCH – Minnesota CLE will provide a complimentary bag lunch to in-person attendees.

1:15 – 2:00 p.m.
SMALL GROUP SESSION A

101
Life After LIBOR – Resources and Insights for Making a Smooth Transition to Alternative Reference Rates
The world continues to move away from using the London Interbank Offered Rate (LIBOR) as its benchmark interest rate for new transactions. In the U.S., the recommended replacement reference rate for LIBOR is the Secured Overnight Financing Rate (SOFR). The shift from LIBOR to alternative reference rates affects trillions of dollars’ worth of financial arrangements globally – from loans and derivatives (e.g. swaps) to insurance contracts, leases and mortgages. This change has also brought fundamental alterations to current contracts. This session will discuss how two larger banks have managed this transition and how they are planning for the future without LIBOR.
– Jennifer M. Bisenius & Sara N. Stenberg

102
Privacy and Data Security in the Financial Services Sector
Banks and other financial institutions are held to a higher standard in the privacy and data security realm. At the same time, they must increasingly provide customers convenience and access through online and mobile applications – making the risk calculus ever more complex! Attend this session for in-depth review of applicable laws, recent changes, and practical insight and approaches to weighing and managing risk, compliance, interacting with regulators, and supporting the business and operational needs of your clients. We will highlight the new computer-security incident notification requirements that go into effect as of April 1, 2022, and the potential reporting requirements under the California Privacy Rights Act of 2020 (CPRA). 
– Robert E. Cattanach, Katherine Chaves & Kathy J. Kirschbaum

103
The Ethical Implications of Accepting Cryptocurrency as Payment for Legal Services
0.75 ethics credit applied for
Cryptocurrency is a virtual currency that is traded online. The role of cryptocurrencies in legal practice has expanded exponentially in the past few years, and cryptocurrencies have emerged as a popular and more reliable payment system throughout the world. However, accepting cryptocurrency as payment for legal services raises potential issues regarding compliance with the Minnesota Rules of Professional Conduct. This session will provide an initial overview of the technology itself as well as the ethical implications that may arise for lawyers who accept cryptocurrency as payment for their legal services.
– Aram V. Desteian & Timothy J. Greenfield

2:00 – 2:15 p.m.
BREAK

2:15 – 3:15 p.m.
SMALL GROUP SESSION B

201
Commercial Loan Documentation – An Update and Toolkit for Handling a Successful Transaction
Commercial loans are a key source of working capital for businesses. Structuring, documenting, and closing a commercial loan transaction requires deal lawyers to have a firm grasp of all aspects of commercial loan documentation and relevant commercial law. This session will discuss these important topics in the context of today’s commercial lending environment and provide an overview of the key provisions of the basic loan and security documents with an emphasis on the best practices for negotiating these documents – whether as borrower’s counsel or lender’s counsel. You will leave this session with the tools you need to make more informed decisions and provide proactive, forward-thinking counsel to your clients.
– Michael P. Warren

202
Fair Lending and Responsible Banking Priorities and Expectations Under the Biden Administration
Since early 2021, the Biden Administration and key federal agencies have announced that fair lending and responsible banking will be a top priority, with a focus on racial equity and fairness, revival of the disparate impact theory, and a return to an aggressive approach in enforcing the federal fair lending laws and UDAAP/UDAP. Join us for an overview of key agency supervision and enforcement efforts, including the U.S. Department of Justice’s “Combatting Redlining Initiative,” the CFPB’s fair lending focal points (including the Bureau’s Section 1071 small business data collection rulemaking and concerns about “algorithmic redlining” through financial institutions’ use of artificial intelligence/machine learning models), HUD’s advisory opinion on special purpose credit programs under the Fair Housing Act, and the FTC’s proposed UDAP rule to define with specificity unfair or deceptive acts or practices.  The session will also include practical tips to mitigate fair lending and responsible banking risks.
– Julie A. (Roorda) Janes & Lori J. Sommerfield

203 – THIS SESSION IS CANCELLED
Elimination of Bias – Channeling Critical Financing to Underserved Businesses and Communities
1.0 elimination of bias credit applied for
In 2021, the Treasury Department announced a $9 billion investment into community development financial institutions and minority depository institutions through the Emergency Capital Investment Program (ECIP). ECIP is designed to support access to capital in communities that have struggled the most during the COVID-19 crisis via institutions that have long faced unique challenges: community development financial institutions and minority depository institutions. This session will illuminate how ECIP and other programs are confronting economic injustice and reducing barriers that prevent full, equal and fair participation in the nation’s economy by providing greater access to credit and capital, helping attendees give the most complete, informed policy and practice advice to their banking and financial institution clients that provide financing and loans to a diverse customer base.
– Rasul M. Raheem

3:15 – 3:30 p.m.
BREAK

3:30 – 4:15 p.m.
SMALL GROUP SESSION C

301
Filing Regulatory Applications with the Fed – Tips and Best Practices
Steve Powell, Manager at the Federal Reserve Bank of Minneapolis, will provide insights regarding common issues arising in Fed regulatory filings, including shareholder agreements, estate planning trusts, and competitive issues. Steve will also share ideas for helping you and your clients engage most effectively with the Fed prior to and during the filing review process.
– Stephen L. Powell

302
Securities Law Primer for the Banking Law Attorney
This session will present an overview of securities law considerations for attorneys representing nonpublic bank holding companies that are raising capital. Attendees will learn basic securities requirements for offering securities, as well as addressing problem areas such as: restrictions on offers and sales in a limited offering under federal and state securities laws; filing requirements; the definition of an “accredited investor” and why it is important; risks involved in facilitating sales among existing shareholders; and other issues that might (or should) keep banking lawyers awake at night!
– Martin R. Rosenbaum

303
Top 10 Potential Points of Friction Between a Bank Chief Risk Officer and General Counsel
The chief risk officer role is quite distinct from, but complementary to, the general counsel role. Learn from a former bank general counsel and a current chief risk officer what they see as potential points of friction between these two important roles, and how they have successfully managed various situations for the benefit of their organizations.
– Michael P. Carlson & Joseph T. Green

4:15 – 4:30 p.m.
BREAK

4:30 – 5:15 p.m.
The Annual Banking Law Case Update
This session will provide the traditional annual update on consumer and commercial case law developments over the past year. 
– Michael A. Cavallaro & Charles E. Nelson

LIVE IN-PERSON
Friday, April 1, 2022
Minnesota CLE Conference Center
600 Nicollet Mall, Suite 370
Seventh Street & Nicollet Mall, Third Floor City Center
Minneapolis, Minnesota

LIVE SIMULCAST
Friday, April 1, 2022
Attend online

$295 MSBA members / $295 paralegals / $355 standard rate

Other discounts that may apply:

• Season Pass Discount
• New Lawyer Discount

Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.

Minnesota CLE is applying to the Minnesota State Board of CLE for 6.25 CLE credits, including 0.75 ethics credit for session #103 and 1.0 elimination of bias credit for session #203 (session 203 was cancelled). The maximum number of total credits attendees may claim for this program is 6.25 credits.