SDBA eNews: November 10, 2016

In This Issue

Learn About ADA Accessibility Standards for Websites


Scores of companies, financial institutions and other entities across the country have been targeted by plaintiffs’ attorneys for purported violations of the Americans with Disabilities Act (ADA) because of “access barriers” on their websites for individuals with disabilities such as visual or hearing impairments. 

From demand letters to lawsuits, these plaintiffs’ attorneys are crawling the web for unsuspecting businesses with websites that fail to meet the U.S. Department of Justice-endorsed standards set forth in the World Wide Web Consortium’s (W3C) Web Content Accessibility Guidelines (WCAG 2.0 AA), because such websites—when used to facilitate access to a company’s goods and services—violate Title III of the ADA.

The Graduate School of Banking at the University of Wisconsin-Madison is offering the webinar "ADA Accessibility Standards: ADA Website Claims Cost Business $100,000" on Nov. 17 at 10 a.m. CST.

Speakers from Secure Banking Solutions in Madison, S.D., and Cross, Gunter, Witherspoon and Galchus, P.C., in Little Rock, Ark., will discuss current case studies, summary of ADA requirements, introduction of WCAG 2 website guidelines, suggested practices for institutions, website oversight management and website auditing. Learn more and register.


SDBA To Offer IRA Essentials Seminar on December 8


The SDBA is offering the IRA Essentials Seminar on Dec. 8 at the Ramkota Inn in Sioux Falls.

IRA Essentials gives attendees a solid foundation of IRA knowledge. Real case problems and examples are included throughout the day to help participants apply information to job-related situations. Attendees will leave this session able to work with IRA holders and process basic IRA transactions with confidence.

The course is for people who are in a backup position or an IRA support person wanting to stay current. This is also a great review course for those that have been away from IRAs for a couple of years. Learn more and register.


Question of the Week

Our bank is trying to determine if we can accept an appraisal from a mortgage company. We have looked up the Interagency Appraisal and Evaluation Guidelines and under section XV Appraisals from Other Financial Services Institutions. It says you can use an appraisal engaged directly by another "financial services institution" Would a mortgage company be considered a "financial services institution?”

Answer: Yes, that would be considered a financial services institution as the guidelines offer the following explanation: "Financial Services Institution--The Agencies' appraisal regulations do not contain a specific definition of the term "financial services institution." The term is intended to describe entities that provide services in connection with real estate lending transactions on an ongoing basis, including loan brokers."

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Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call 888.353.3933 or email.


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Questions/Comments

Contact Alisa DeMers, SDBA, at 800. 726.7322 or via email.

2017 High School Scholarship Program Application Now Available


The South Dakota Bankers Foundation has allocated $90,000 for the High School Scholarship Program for 2017. Matched by recipient banks, the program will result in a total of $180,000 in high school scholarships awarded throughout South Dakota in 2017.

Scholarships are available in $500 increments to the first 180 banks/branches who agree to match an equal amount. Banks who participated in the High School Scholarship Capital Campaign are eligible to apply for funding. 

Students who receive the scholarships must be a high school senior who plans to attend an accredited South Dakota college, university, vocational technical school or community college on a full-time basis. Winners must agree to have their names released to the media. Other scholarship eligibility requirements may apply as determined by the sponsoring bank.

The deadline for SDBA banks to apply for high school scholarship funding is Dec. 23, 2017. Learn more and apply.


2017 National School for Beginning Ag Lenders Registration Now Open


Fundamentals of Ag Lending: 2017 National School for Beginning Ag Lenders is an intensive school designed to train in all facets of agricultural lending with emphasis on credit analysis, credit scoring, risk rating, problem loans and group case study.

Sponsored by the SDBA, the school will be held June 19-22, 2017, on the campus of Black Hills State University in Spearfish, S.D.

Attendees will receive personalized instruction and continual peer interaction fostered through a limited class size, case study and group exercises. The school will be limited to 60 students so register early. Learn more and register.


ABA Responds to Proposal to Combat Appraiser Shortage

 
As the shortage of appraisers continues to be a priority issue for bankers, particularly those in rural markets, ABA last week offered feedback on a recent proposal by the Appraiser Qualifications Board to change the qualification criteria for real property appraisers.

While the association supported several of the proposed changes--including those to remove or change certain educational requirements needed to obtain real property appraisal credentials--ABA urged the board to continue exploring solutions that would allow prospective appraisers to use relevant experience gained in other professions to help meet certification requirements.

ABA noted that many individuals in related careers have valuable experience with property valuations, such as bankers that are involved in real estate transactions. Taking this previous experience into consideration could help attract qualified talent to the appraiser profession, the association said.

ABA also encouraged the board to continue working with appraisal professionals to reach consensus on proposed adjustments to specific course guidelines and experience-hour requirements that would help ease current entry barriers to the appraiser profession. Read the comment letter. For more information, contact ABA's Rod Alba.

On a related note, a hearing regarding modernizing appraisals will be held on Nov. 16 at the Rayburn House Office Building in Washington, D.C. The invite letter outlines what will be discussed. Direct comments to the ABA's ag lobbying staff: Ed Elfmann, Steve Apodaca or Rod Alba.


ABA Congratulates Trump, Urges Pursuit of Shared Goals

 
In a letter to President-Elect Trump yesterday, ABA Chairman Dorothy Savarese and ABA President and CEO Rob Nichols congratulated Trump on his election and urged his administration to pursue bipartisan policies that promote economic growth, a thriving housing market and safe, convenient banking innovations.“A bank’s goal, like yours, is the success of the people it serves--America’s families, homeowners, small businesses and larger companies that together create thriving communities,” ABA wrote. “Therefore, the policies for which we advocate are those that help customers, clients and communities succeed.”

Savarese and Nichols specifically encouraged the next administration to pursue a tailored approach to regulation; to continue supporting small businesses growth by strengthening the Small Business Administration’s loan programs; and to consider possible solutions to alleviate the student debt burden that currently affects two-thirds of all college graduates. They also outlined a number of initiatives that would help more Americans to access mortgages and affordable housing, as well as others aimed at meeting the challenges of new technologies and providing a safe, secure banking system for all.

“We believe these are areas on which all policymakers can agree and present an opportunity to prove that Washington is capable of both bipartisan spirit and action.”

In a separate press statement on the elections, Nichols stressed ABA’s eagerness to work with the new administration and the 115th Congress “to achieve our shared goals for a vibrant and growing economy.” “We look forward to working with members of both parties on policy solutions that will allow banks to help accelerate economic growth, create jobs, better serve their local communities and help their customers and clients succeed.” Read the letter. Read the press statement.


ABA Analyzes What GOP Congress, Trump Victory Means for Bankers

 
As reported in a special edition of Newsbytes yesterday, ABA’s government relations team has prepared an analysis of how Donald Trump’s presidential win and the continuing Republican majorities in Congress will affect the banking industry. The analysis reviews the likely impact on such key issues as Dodd-Frank regulatory fixes, the Consumer Financial Protection Bureau, overall regulatory burden and GSE reform.

ABA noted that comprehensive regulatory relief initiatives that previously failed could be revived in the upcoming legislative session, as could efforts to restructure the CFPB and pursue other changes to Dodd-Frank Act rules. Due to a lack of clear and detailed banking-related proposals from the Trump campaign, the outlook from the administration for financial services is less certain, although Trump has expressed support for overhauling Dodd-Frank and said that small banks are especially being harmed by regulatory burden.

To learn how the new Congress' actions and the new administration will influence banking's future, ABA strongly encourages bankers to plan to attend the 2017 ABA Government Relations Summit, to be held March 20-22 in Washington, D.C. The conference offers bankers the opportunity to hear detailed briefings from Washington insiders and express their views to policymakers on key issues. Registration is free. Read the analysis. Register for the summit.


Curry: Potential Fintech Charter Would Have Bank-Like Standards

 
Should the OCC decide to grant a federal charter to nonbank fintech companies, as many have suggested and speculated, the agency will hold chartered nonbanks to the “same high standards” that banks are expected to meet, Comptroller of the Currency Thomas Curry said last week. He added that the agency would issue a paper “soon” outlining its thoughts on the subject and inviting public comment.

“If the OCC decides to grant a national charter in this area, the institution will be held to the same high standards of safety, soundness, and fairness that other federally chartered institutions must meet,” he said during a speech in London. “Having a national charter has tremendous value, and because of that it carries certain responsibilities.”

Curry also described the OCC’s thoughts on pilot programs for innovation, an idea ABA has encouraged in its previous comments to the OCC. While Curry said he does not support a “safe space” approach that “allow[s] companies to try out new products and processes without the risk of penalty if the trial runs afoul of consumer protection laws or other regulations,” he said that “carefully designed pilots” can limit liability for companies if their scope and duration are controlled and if tests are closely monitored. Read the speech.