Let Your Voice be Heard During
SDBA's 2012 State Legislative Conference
It is important that bankers let their voices be heard and learn the latest legislative happenings by attending the SDBA's 2012 State Legislative Conference, Reception and Dinner on Wednesday, Feb. 8, in Pierre. This annual event provides a great opportunity to have an informal visit with your elected officials while they are in session. Event highlights include: a luncheon and banking legislation review; a session with the Governor; an economic outlook for South Dakota, the region and beyond; opportunity to visit with legislators at the Capitol; and an evening reception and dinner with legislators and constitutional officers. You can register to attend the entire day or only the afternoon or evening events. The conference will be held at the Ramkota RiverCentre. More details and to register. u

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Bankers Report Mixed Results in 2011 Exams
Bankers’ regulatory examination experiences in 2011 can best be described as “mixed,” according to a report released yesterday on the ABA-state bankers associations’ Regulatory Feedback Initiative. The RFI enabled more than 1,000 bankers to provide anonymous survey feedback in 2011 on their safety and soundness and compliance exams. The report shows both good and bad results. While half of the surveyed bankers reported satisfaction with their examination experience, nearly one-third were either “dissatisfied” or “very dissatisfied,” a result that both ABA and the state associations view as unacceptable. Thirty percent also reported being under some form of written agreement.

CAMELS ratings are improving, with upgrades slightly ahead of downgrades, and the associations hope banks are turning the corner on that important measure. They also are encouraging bankers to continue filing RFI surveys following both safety and soundness and compliance exams. Bankers can access the surveys through their state associations. Meanwhile, ABA is using the exam data to advocate for bankers with the regulators and Congress and to present their story to the public. Read the report. u

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TCF Bank Expands in South Dakota, Creates Jobs
TCF Bank, a national bank holding company, is expanding its South Dakota footprint and creating hundreds of new jobs in the eastern part of the state. TCF Bank will establish a contact and operations center in Sioux Falls in early 2012 and expects to have nearly 200 employees hired by October of next year. TCF Bank is looking primarily for inbound call-center associates and managers and operations support associates for the new facility on West 38th Street in Sioux Falls. In 2009, TCF Bank relocated its charter from Minnesota to South Dakota and established a retail bank in Sioux Falls. Since then, the South Dakota Governor’s Office of Economic Development has worked with the company to create additional jobs in South Dakota. “TCF Bank is a first-rate business that is bringing solid jobs to our state,” said South Dakota Gov. Dennis Daugaard. “I’m pleased to have a growing relationship with the company and look forward to its continued success in South Dakota.” Read more. u

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CFPB to Consider Rules Exemption for Smaller Banks
The Consumer Financial Protection Bureau will explore the possibility of exempting smaller banks from some of its rules, CFPB Director Richard Cordray told a House Oversight and Government Reform subcommittee Tuesday. Cordray said the bureau may consider setting a minimum asset size to exclude community banks from new rules, and he added that the agency also will analyze how its rules would affect banks with fewer than $10 billion in assets. ABA is advocating that the CFPB and other regulators adopt an even more flexible, graduated approach to supervision that recognizes a wider range of sizes, charters and business models.

Cordray also assured lawmakers that the CFPB wouldn’t abuse its power and promised that the agency would take action only against companies that break the law. “It … is not our intention to start going off and acting like we’re some sort of mini-Congress, just doing anything we think is good and right,” he said. The agency will follow the existing interpretation of consumer laws covering financial products and "should not be going off in some wild, new unexpected direction” that would cause confusion among banks and other firms, Cordray said.

He also repeated a pledge -- made at an earlier hearing -- to reach out to small businesses and to convene panels of small-business leaders on any major regulation that could potentially affect them. Read Cordray’s prepared testimony. u

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Administrative Appraisal Review for Non-Appraisers
If you haven’t already registered for the March 13 "Administrative Appraisal Review for Non-Appraisers” training sponsored by the American Society of Farm Managers and Rural Appraisers in Sioux Falls, please consider this valuable training opportunity. The seminar will provide a summary on the Dodd-Frank Act and implications to the appraisal and financial industry, along with strengthening your knowledge base on appraisal issues for residential, commercial and agriculture. More information and registration form. u