SD Bankers' Voices Needed in Washington, D.C.
Bankers from South Dakota and North Dakota are invited to take part in the 2008 Federal Legislative Conference on May 4-6, 2008, in Washington, D.C. Now, more than ever, it is important to travel to D.C. to voice you opinions. The Federal Legislative Conference is a unique opportunity to really make a difference. This conference provides bankers with an opportunity to meet with and influence decisions made by our top regulators and congressional delegation. The registration deadline is April 4. More information and registration form. u   

Meetings To Address Tribal Economic Development
State and tribal collaboration will be the topic of the South Dakota Indian Business Alliance’s (SDIBA) mini-conference on April 17, 2008, at the Ramkota Hotel in Sioux Falls. Major Robinson of Redstone Consulting, former Montana state coordinator of Indian Affairs, will present "Tribal Economic Development Enhanced by State and Tribal Collaboration." Robinson will compare and contrast the Montana Indian Business Alliance’s success with SDIBA’s progress on state-tribal collaboration. SDIBA’s mission is to remove barriers to Indian Country business development while creating and expanding Indian-owned businesses by maximizing resources and partnerships. For more information, contact Dani Daugherty at (605) 226-7381. The 10th Annual Great Plains Regional/Tribal Economic Development Summit will be held on April 15-16, 2008, at the Ramkota Hotel in Sioux Falls. This event is for those interested in the growth of tribal economies in and around the Great Plains Region of North Dakota, South Dakota and Nebraska. More information. u

Fed Slashes Interest Rates Again
The Federal Reserve's Federal Open Market Committee this week cut the federal funds rate three-fourths of a percentage point to 2.25 percent, the lowest since late 2004. It marked the second back-to-back cuts of three-quarters of a percentage point. "Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters," the FOMC said. Read the FOMC statement. u

FDIC Warns About Advance-Fee Loan Scams

New $5 Bill Enters Circulation
The Federal Reserve last week started circulating the newly designed $5 bill to banks. The new bill, which still bears Abraham Lincoln's portrait, contains two new watermarks and a relocated, vertical security thread to discourage counterfeiting. Old $5 bills will continue to circulate and retain their full value. Last year, $61.4 million in counterfeit currency was passed in the United States, U.S. Secret Service officials said. Read more. u
 

President Bush Signs Farm Bill Extension
President Bush last week signed the congressionally passed bill that will extend the 2002 Farm Bill by 30 days to April 18. Bush said in a statement, however, that it is the last short-term extension he wants to sign. He added that if Congress cannot reach agreement on a new Farm Bill by April 18, he would support extending the 2002 Farm Bill for "at least" one year. Read Bush's statement. u

Advanced Commercial Lending School In June
The Minnesota Bankers Association invites South Dakota bankers to attend its Advanced Commercial Lending School on June 4-6, 2008, in Bloomington, Minn. This three-day school is designed to reflect contemporary trends affecting the financial services industry. The core of the school centers around four case studies which address a wide variety of decision-making challenges typically presented to community bank lenders. The instructor, John Cochran, will introduce and develop key variables, the operating cycle, typical financing requirements and borrower financial information. More information and registration form. u