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Online EducationCompliance AllianceSouth Dakota Bankers: Encourage your lawmakers to cosponsor ACREThe SDBA is pleased to share that the Access to Credit for our Rural Economy Act, also known as ACRE, was reintroduced in the 119th Congress on March 4, 2025! ACRE will help sustain and grow rural America by lowering the cost of credit for rural America. The ACRE Act aims to ease this burden for rural America by promoting greater access to credit and reducing borrowing costs for agricultural producers. It would exclude from gross income the interest received by lenders on loans secured by farm real estate and aquaculture facilities, as well as home mortgage loans that do not exceed $750,000 in rural communities of no more than 2,500 people. Stand up for America’s farmers and ranchers and encourage your lawmakers to cosponsor S. 838 and H.R. 1822, the ACRE Act. ABA Banking Journal: Lawmakers reintroduce ABA-backed ACRE Act to boost rural economiesMarch 4, 2025
 Lawmakers in the House and Senate today reintroduced the Access to Credit for our Rural Economy Act, which would make it easier for farmers, ranchers and rural families to access affordable real estate credit. Passage of the ACRE Act is one of the American Bankers Association’s top policy priorities in 2025. The ACRE Act would give community banks the same tax treatment on certain earned interest that applies to other lenders, allowing farm real estate borrowers and rural homeowners access to lower interest rates. This would also apply to single-family home mortgage loans in rural communities with fewer than 2,500 residents and for mortgages less than $750,000. The bipartisan, bicameral bill is sponsored in the House by Reps. Randy Feenstra (R-Iowa), Nathaniel Moran (R-Texas) and Don Davis (D-N.C.). It is sponsored in the Senate by Sens. Jerry Moran (R-Kan.), Angus King (I-Maine), Ruben Gallego (D-Ariz.), Senator Kevin Cramer (R-N.D.) and Tommy Tuberville (R-Ala.). The legislation picked up dozens of sponsors when it was introduced in the previous Congress. “The ACRE Act will deliver much-needed financial support to farmers and ranchers working through a difficult economic cycle by lowering the cost of credit without creating new government payments or programs.,” ABA President and CEO Rob Nichols said. “It would also drive down the cost of homeownership and increase access to credit in more than 17,000 rural communities across the country. We urge all members of Congress to support this critically important legislation.” Also, ABA joined state bankers associations in a joint letter urging congressional leaders to support the ACRE Act. The joint letter was in addition to a separate letter ABA sent in support of the bill. Back to TopABA Banking Journal: House committee advances resolution to overturn CFPB overdraft ruleMarch 5, 2025
The House Financial Services Committee today voted to advance a joint resolution to invalidate the Consumer Financial Protection Bureau’s final rule on overdraft protection. The CFPB rule requires banks with at least $10 billion in assets to cap overdraft fees at $5 unless they voluntarily set a cap that covers their actual costs and losses or treat overdraft protection as a loan covered by the Truth in Lending Act. H.J. Res. 59 would overturn the rule if adopted by both the House and Senate and signed by President Trump. The resolution was introduced in the House by committee Chairman French Hill (R-Ark.) with Senate Banking Committee Chairman Tim Scott (R-S.C.) sponsoring the resolution in that chamber. The committee voted 30-19 to report the resolution to the House. In a statement, ABA President and CEO Rob Nichols said the association applauded the vote to overturn the “misguided overdraft rule.” “The bureau’s rule was flawed and unlawful from the start, and went against the wishes of a strong majority of Americans who have repeatedly indicated that they value and appreciate overdraft protection,” Nichols said. “By demonizing these highly regulated and transparent bank fees and attempting to implement government price controls, the rule would make it significantly harder for banks to provide this valuable service.” Back to TopABA Banking Journal: FinCEN to establish new BOI reporting deadlines, review requirementsFebruary 28, 2025
BOI collection had been on hold until recently because of preliminary injunctions against enforcement issued in two lawsuits challenging the Bank Secrecy Act. The courts have since lifted both injunctions, allowing collection to resume. FinCEN had set a March 21 reporting deadline for affected businesses, but in a statement, the agency said it now plans to issue an interim rule by that date to extend the deadline. “FinCEN also intends to solicit public comment on potential revisions to existing BOI reporting requirements,” the agency said. “FinCEN will consider those comments as part of a notice of proposed rulemaking anticipated to be issued later this year to minimize burden on small businesses while ensuring that BOI is highly useful to important national security, intelligence and law enforcement activities, as well to determine what, if any, modifications to the deadlines referenced here should be considered.” FDIC: FDIC Board of Directors Withdraws Four Outstanding Proposed RulesMarch 3, 2025
If the FDIC pursues regulatory action on these matters in the future, it will do so by publishing new proposals or other issuances consistent with the Administrative Procedure Act. Back to Top Bank Franchise Tax + Unclaimed Property
Learn more about the economic impact of South Dakota's banking industry. Have questions about unclaimed property? We have simplified it for you and included a downloadable PDF right on our homepage.
Breaking Into Banking 201: Analyzing Repayment Sources WebinarMarch 26, 2025
This 9-module online course is a “sequel” to the 101 course and is best taken after completion of that course, though it is not a prerequisite. The 201 course includes a case study and dives deeper into topics covered in modules 4, 6, and 8 of the 101 course: analyzing a borrower’s balance sheet, income statement, collateral, and risk ratings. Understanding Bank PerformanceBuilding Better BankersVirtual: April 3, 4, 10, 11, 17, 18, 24, 25| 10 a.m. - 12 p.m. Central Time
Having learned how to interpret and analyze a bank’s financial statements, participants will gain deeper insight into the factors affecting bank performance. Later sessions in this course will address ways in which performance may be hindered or improved by funding strategies and risk management. Ultimately, participants will be able to review a bank’s financial statements to identify strengths and weaknesses and be able to recommend changes that will lead to improved performance. In the final session of this course, participants will put what they have learned into practice. Participants will analyze a new data set, rate the bank’s performance and suggest strategic adjustments that might benefit the bank. GSB Human Resources Management SchoolApril 28-May 2, 2025 | Madison, WI
2025 SDBA New Accounts SeminarApril 22, 2025 | Sioux FallsManaging risk is the #1 priority for all financial institutions, starting at the new account desk. If a criminal cannot open a bank account, they cannot negotiate a stolen check, embezzle from their employer, or steal from your organization and community. Well-trained new account personnel and universal bankers who recognize and stop attempted fraudulent activity are the first lines of defense in protecting a financial institution from fraudsters. Unfortunately, new account personnel are often trained "on the job," which results in an environment of potential vulnerability and unnecessary losses. Trust and business accounts continue to grow in popularity and complexity - LLCs owned by Revocable Trusts and businesses owned by other businesses… the need for ongoing compliance training is paramount to maintain diligence and update processes and procedures. This full-day program is one of the country's most comprehensive seminars on opening deposit accounts. The session answers many of the complicated questions customers and employees ask. The 200+ page detailed manual, included in the registration and customized to your state law, has become an invaluable resource for banks across the state. These workshops are highly interactive. Come prepared to get your questions answered! Hotel block will be released March 20. Back to Top
GSB Online Seminars Banking Matters Podcast |
The Financial Crimes Enforcement Network yesterday said 
WASHINGTON – The Federal Deposit Insurance Corporation’s (FDIC) Board of Directors today approved the withdrawal of three outstanding proposed rules relating to brokered deposits, corporate governance, and the Change in Bank Control Act (CBCA). The FDIC is also withdrawing authority for staff to publish in the 
Key take-aways:
Participating in learning opportunities outside the bank can be challenging. Take advantage of the SDBA's extensive selection of webinars and on-demand training to enhance your banking expertise directly from your computer.
