SDBA eNews

March 21, 2024

ABA Newsbytes: Nichols: ABA Advocacy Has 'Evolved' to Address Current Climate

ABA President and CEO Rob Nichols outlined how the association’s advocacy strategy has evolved in recent days to address the current political landscape in Washington, which has included challenging congressional dynamics and a concerning pattern of regulatory overreach.

In opening remarks kicking off ABA's Washington Summit, Nichols said that the association has had no choice but to turn to litigation to challenge several recent final regulatory actions, including the CFPB’s recent UDAAP manual update, the joint agency Community Reinvestment Act final rule, the CFPB’s Section 1071 final rule and the CFPB’s credit card late fee final rule.

“We have an obligation to make sure the agencies overseeing the banking system are carrying out their duties within the law and consistent with the authority granted them by Congress,” Nichols said. “When they don’t, they can count on seeing us in court. If we have to follow the rules, so do they.”

Another way ABA has evolved its advocacy strategy is by “investing in our research and data capabilities, as we’ve seen regulators falling short on their obligations to understand the potential consequences of their actions." ABA’s policy and economic teams have produced research to support a number of policy positions—demonstrating how proposals like the Basel III endgame and the Fed’s proposed changes to Regulation II would harm banks and their consumers. 

SDBA's Karl Adam and Halley Lee, along with 12 other SDBA bankers, attended the 2024 ABA Washington Summit this week. From forums on Women in Banking and Emerging Leaders to general sessions and time on Capitol Hill, it was another great experience in DC. View some fun photos from the week on Facebook | Instagram.

Catch up on the livestreams HERE.

"This is How We Roll" a FREE LUNCH!

Roll 2024

Pierre: Ramkota Hotel & Conference Center, 920 W Sioux Ave.

FREE! But registration is required!

The South Dakota Bankers Association is hitting the road again and we’re coming to a town near you for the 2024 edition of ‘This is How We Roll!’ Join SDBA President, Karl Adam, when he presents the following key topics:

  • The who, what, where, when and why of the SDBA, and how you play a key role.
  • 99th Session of the South Dakota Legislature Recap
  • 2024 Election Cycle
  • Current banking-related topics affecting/impacting South Dakota

Plan to join the SDBA for the short program laid out above, then stick around for lunch. These ‘Roll’ events are FREE and open to all bankers, frontline to CEO. 

Learn more and register HERE.

Upcoming Events




For a complete list of events, 
click here.

New Issue Highlights the Regulatory Tsunami Threatening to Engulf Banks

The Great WaveThe cover story for the March/April issue of the ABA Banking Journal—available now online and in mailboxes—is an examination of the current legislative landscape for bank policy, including insight from ABA President and CEO Rob Nichols on the latest—and myriad—regulations affecting banking.

 As Nichols notes, federal policymakers have unleashed a virtual tsunami of proposed regulation over the past year, including lower caps for debit card interchange fees, new small business lending reporting requirements and new rules for Community Reinvestment Act implementation.

 "Taken together, these policies place a tremendous cost and compliance burden on banks of all sizes—at a time when they are already facing a tough operating environment due to a protracted period of high interest rates and ongoing geopolitical tensions,” Nichols writes. “These policies will also have devastating effects for consumers. Banking is, after all, a business—and in order for banks to offer the full range of financial products and services to meet the needs of communities, they need to be profitable, and have an operating environment that supports growth.”

 Other articles include a round-up of the legislative issues affecting banking in statehouses across the country, exercises to help banks prepare for cybersecurity risks, ideas for banks to communicate the value of wealth advisory offerings, and best practices from banks that are using TikTok successfully.

 Read the cover story.

CISA NEWS: The Insider Threat

SIM swapping from a telecommunications employee. How do you monitor access to your critical data?

Read the full article here.

FedNow Service Basics Webinar | May 14 | 10am

Virtual via Zoom

The FedNow Service launched in July 2023, and instant payments continue to be a hot topic across the payments industry. As your financial institution prepares for real-time payments, understanding the basics of this payment type is critical. Join this educational webinar to learn the ins-and-outs of how an instant payment works including differences in clearing and settlement compared to existing payment rails, how funds move from end-to-end, and why your financial institution should care about instant payments. Lastly, leave armed with resources available to help your financial institution start its FedNow Service adoption journey.

Instructor: Matt Kajewski, Sr., Regional Account Executive, Federal Reserve

This is a FREE webinar! Registration is required.

KBA Fraud Academy | August 6-8 | Live or Virtual

KBA Fraud AcademyThe KBA Fraud Academy is a “first of its kind” two-day school that will train employees at all levels of your institution on fraud risk and what they can do fight it. This program will feature speakers from the United States Secret Service, attorneys from the United States for the Eastern District of Kentucky, Lexington Police Department, and other current and former law enforcement experts that will share their experiences and insights to best educate your bankers on how to mitigate fraud risk and ultimately reduce your fraud loss.

Learn more and register HERE.

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Q: When is an Anti-Steering Disclosure required?

A: The Anti-Steering Disclosure is not required by regulation to be provided to a customer. The disclosure is provided as a safe harbor to protect the bank from claims that the consumer was steered to a product. It may be required by investor or internal policy.

We have a template for the anti-steering disclosure here:

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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