SDBA eNews

February 29, 2024

Registration OPEN: 2024 Dakota School of Lending Principles

April 2-5 | Bismarck, ND

The Dakota School of Lending Principles, hosted by the North Dakota Bankers Association and co-sponsored by the South Dakota Bankers Association on April 2-5, 2024, in Bismarck ND, 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. 

Details and Registration


Registration OPEN: 2024 FDIC Directors' College | May 8 | Sioux Falls

The FDIC, in partnership with the South Dakota Bankers Association, will hold the 2024 Bank Directors’ College May 8 at the Ramkota Hotel in Sioux Falls. This one-day educational seminar was designed with outside directors in mind, but the presentations will include up-to-date information on various emerging issues relevant to all bank directors. The presentations will be delivered by a group of experienced FDIC speakers and subject matter experts. Please consider this unique opportunity to interact with your bank’s regulators and enhance your board’s experience and knowledge.

HOTEL INFORMATION

A block of rooms has been reserved at the Ramkota Hotel for the evening of May 7. Call 605.336.0650 and request a room in the SDBA block at the rate of $119 per night.

The block will release on April 8, 2024.

Learn more and register HERE.


New FDIC Regional Ombudsman Contact

Kirk Daniels has been named Regional Ombudsman for the FDIC Office of the Ombudsman.

Email: [email protected]

Phone: 1-877-ASK-FDIC


ABA Foundation to Host FREE Webinar: Scams Against Americans | March 6

The ABA Foundation, the Better Business Bureau Institute for Marketplace Trust and Federal Trade Commission will hold a free webinar on Wednesday at 2 p.m. EST on scams targeting consumers’ bank accounts and personal data. The session will explore the most prevalent scams and their effects on different demographics of U.S. residents. Also, attendees will receive access to the BBB’s latest Scam Tracker Risk Report. 

Details and Registration


SDSU Extension 2024 Ag Land Value Survey Now Open

Ag lenders are invited to take part in South Dakota State University Extension's 2024 South Dakota Farm Real Estate Market Survey. SDSU Extension is requesting select groups of individuals to complete the survey including appraisers, assessors, realtors, agricultural lenders and Extension field specialists.

The principal purpose of the survey is to obtain market value and cash rental rate information, by type of agricultural land, in different regions of South Dakota. Farmers, landowners, investors, lenders, real estate professionals and public officials are the majority users of the data provided by the survey.

The deadline to complete the 2024 survey, which is in its 34th year, is March 15. Questions, contact SDSU Extension's Jack Davis or Hoanh Le.
• Complete the 2024 survey.
• View the results of past surveys.


ABA Urges FCC to Take Steps to Stop Illegal Texts Impersonating Banks

The American Bankers Association and six associations today urged the Federal Communications Commission to take additional action to combat text messages sent by bad actors that impersonate banks and other legitimate companies. The joint comment letter was submitted in response to a recent FCC proposal that, among other provisions, would require mobile wireless providers that originate text messages to block texts from a sender after they receive notice from the FCC that the sender is transmitting suspected illegal texts. The associations last year proposed that originating providers be subject to this blocking requirement.

The associations also expressed support for an FCC proposal to require providers to make “email-to-text” an opt-in service, so that cell phone subscribers wishing to receive these types of messages would first have to opt into the service. The groups had previously raised concerns with the proclivity of bad actors using email-to-text as a primary means to place a large volume of illegal texts quickly.

In addition, building on recent testimony that ABA’s Paul Benda provided to the Senate Banking Committee, the groups urged the FCC to propose that providers be required to provide access in real time to reported “SPAM” texts—that is, suspicious texts that consumers forward to #7726—to banks and other companies who wish to use the data to find impersonation texts relevant to their company.

Read full article


CISA News: Microsoft Credential Recommendations

Protected Users is a global security group for Active Directory (AD) designed to protect against credential theft attacks. The group triggers non-configurable protection on devices and host computers to prevent credentials from being cached when group members sign-in.

Read full article


  Compliance Alliance logo

Q: Is collecting the "purpose" of a wire from the customer a regulatory or legal requirement or just a best practice?  

A: From the BSA regulatory perspective, the "purpose" of a wire is not required; when the $3,000 threshold is met in a fund transmittal, the "travel rule" applies, but even then, FinCEN does not discuss "purpose" as a required element, which would suggest it is more of a best practice (31 CFR 1010.410(f)(1)). Generally speaking, requiring the purpose of a wire may be part of the bank's risk-based anti-money laundering policies and procedures, so ultimately, whether the bank maintains a requirement to know the purpose of the wire will be determinate on the bank's internal BSA and CDD policies and procedures.

Did you know that joint intent must be evidenced at application even if the application is taken over the phone?

  • The bank should establish procedures for taking applications over the phone including properly documenting joint intent for Regulation B.
  • Regulation B does not mention how joint intent must be evidenced, but it does state that signatures on a promissory note may not be used to show intent to apply for joint credit.

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.

For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.


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Contact the SDBA at 605.224.1653 or via email