SDBA eNews

December 22, 2022

Special Guest, Santa Stops by the SDBA! 

SDBA President, Karl Adam sits down for a brief conversation with Santa to talk about what is on the SDBA's Christmas wish list and requested a few stocking stuffers to share with our member bankers. 

Listen via Spotify by searching “SDBA Bank Squawk” on Spotify or click here to listen now. The episode is titled, “Special Guest, Santa Stops by the SDBA!”

Happy holidays from the SDBA staff! 


Virtual Midwest Economic Forecast Forum to be Held on January 12

The Midwest Economic Forecast Forum will be held on Thursday, January 12, 2023, from 10:30 a.m. - Noon CT. Prepare for 2023 by joining an economic outlook with St. Louis Fed President James Bullard during this virtual event. Then listen to Augustine Faucher, Chief Economist with the PNC Financial Services Group, as he shares what he expects in 2023 and beyond. 

Who Should Attend?

Community leaders with an interest in the economic and business environment will find value in hearing from our nationally-recognized speakers. Bankers and community leaders are encouraged to invite their business clients to virtually share these economic insights. Individual or group registration rates are available.

Registration Information: 

Registration is available individually or as a group. Take advantage of our group pricing to invite additional staff, business customers, and other community leaders to join you!

  • Individual Registration - $39/connection
  • Group Registration - up to 10 virtual connections - $149/group

Limited sponsorship opportunities are available for this multi-state event. Contact WBA's Nick Loppnow via email for more information.

Media Inquiries:

For a Media Registration for the event, please contact WBA’s Cassandra Krause at 608-441-1216 or [email protected]. Advance registration is required.

Register for the event by clicking here

Virtual Forum Agenda: 

10:30 - 11:15 a.m. CT

An Economic Discussion with Federal Reserve Bank President James Bullard

Time will be allotted for open Q&A.

11:15 a.m. – Noon CT

Recession Risks Elevated in 2023 as Fed Raises Interest Rates to Fight Inflation - Augustine (Gus) Faucher


ABA-Opposed Credit Card Routing Bill Again Left Out of Spending Measure

Retailer-backed legislation creating new credit card routing mandates was left out of a bipartisan omnibus spending bill after a sustained grassroots campaign by ABA and state banking associations warned lawmakers about the risks community banks faced had the proposal become law.

The Credit Card Competition Act was first introduced in the Senate by Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) in July, with Reps. Peter Welch (D-Vt.) and Lance Gooden (R-Texas) later introducing a nearly identical House bill. Both bills failed to gain traction and any additional cosponsors as standalone proposals, so their authors attempted to add the legislation as an amendment to a must-pass piece of legislation like the omnibus spending bill. However, the spending bill unveiled yesterday by Democrat and Republican negotiators contained no language from the Credit Card Competition Act, with few changes expected before Congress votes on the measure and wraps up later this week.

This marks the third defeat for the Credit Card Competition Act in recent months, with groups representing large merchants having also failed to persuade Congress to include the bill during the budget reconciliation process and then in the National Defense Authorization Act. As awareness of the bill has increased, so too have the organizations opposed to it, including military banking organizations, the major airlines and leading travel experts.

ABA and other trade groups opposed the Durbin-Marshall bill since its inception and, along with state banking associations, urged bankers to contact their lawmakers and explain how the legislation would harm both community banks and consumers. ABA also significantly expanded its months-long advertising campaign earlier this month, highlighting the legislation’s detrimental effects. The bill’s sponsors “have introduced anti-consumer legislation that would reduce choice, jeopardize consumer data security, and eliminate travel points and other popular credit card rewards programs,” ABA President and CEO Rob Nichols said at the campaign’s launch. ABA will continue to actively oppose the legislation and any effort to revive it in the next Congress. 


RMA to Host 'Cash Flow Analysis II: Applied Concepts' Course in Sioux Falls

The Risk Management Association is hosting a Cash Flow Analysis II: Applied Concepts course in Sioux Falls on April 26-27, 2023.

Gain more understanding of how to effectively review a loan request by linking financial analysis and cash flow analysis to industry, business, and management risk issues.

Course Objectives:

  • Assess Borrower performance through analysis of financial statements.
  • Construct and analyze historic and projected cash flow statements.
  • Identify and analyze the financial impact of management decisions and of business and competitive factors on loan repayment from cash flow.
  • Use the results of qualitative and quantitative analysis to make appropriate credit decisions.

Find more information and register here


South Dakota Banks Make a Difference Survey Coming Soon

Each January, the SDBA surveys the state’s banks on the ways they support their local communities. There will be a brief survey sent via email to each member bank. This annual project is a summary of how banks found creative ways to meet the needs of their communities during 2022.

The SDBA will compile the results of its Banks Make a Difference Survey and unveil them during its State Legislative Day on Feb. 15, 2023. Copies of the promotional handout will be provided to all attendees, state legislators, and banks and branches. 

The document is a wonderful tool that banks can use to promote all of the great things they do for their communities. 


Happy Holidays from the SDBA! 

The SDBA will be closed in observance of the Christmas holiday on Monday, December 26. We'll re-open at 8 a.m. CT on Tuesday, December 27. We appreciate our members, and we are grateful for your investment, partnership and your friendship with the SDBA. 

From all of us at the SDBA, we wish you a blessed and joyous holiday season! 


SBS Cybersecurity Hacker Hour: What's Trending in the World of IT Audit?

Title: Hacker Hour: What's Trending in the World of IT Audit?
Date: Wednesday, December 28
Time: 2:00-3:00 PM CT
Free webinar series!
Register

IT auditing is a vital component in making empowered business decisions. As such, it is important to understand the latest developments and advancements in the information and cybersecurity field and how they affect your audit results.

Join us for this webinar as we share insights into the current state of information security, what's trending in regard to findings and recommendations, and possible changes to the future of auditing. We will also offer practical advice and best practices for professionals looking to stay up-to-date and remain competitive in the field.


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: Do Reg CC exception holds apply to check deposits drawn on foreign banks?

A: If the check is actually drawn on a foreign bank not located in the US, it would not be considered a "check" covered by Reg. CC. Therefore, would not be applicable to Reg CC and you can put a hold on it for as long as it takes to clear. It'd mainly be a policy issue. Whatever time you feel is reasonable based on the surrounding circumstances.

http://www.ecfr.gov/cgi-bin/text-idx?SID=d94084963c8d12622e69297c7504a050&mc=true&node=pt12.3.229&rgn=div5 

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 [email protected] and ask for our Membership Team.

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