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Last Two Days to Order the 2024 Scenes of South Dakota Calendars at the Early-Bird Rate!SDBA's LEAD STRONG: Women in Banking to be Held on September 26-27The SDBA will be hosting the 2023 LEAD STRONG: Women in Banking event in Sioux Falls on September 26-27. The Women in Banking Conference is a prestigious annual gathering that celebrates and empowers women in the financial industry. Join us for an engaging and enlightening event that focuses on the achievements, challenges, and opportunities for women in the world of banking. This conference provides a unique platform for networking, knowledge sharing, and fostering meaningful connections among leading professionals in the field. Details and registration information can be found here. Breaking into Banking 201: Analyzing Repayment Sources to be Held September 7Attention all past attendees of Breaking Into Banking 101, save the date for the virtual Breaking Into Banking 201: Analyzing Repayment Sources, on Thursday, September 7! This 9-module online course is a “sequel” to the 101 course and is best taken after completion of that course, though it is not a prerequisite. The 201 course includes a case study and dives deeper into topics covered in modules 4, 6, and 8 of the 101 course: analyzing a borrower’s balance sheet, income statement, collateral, and risk ratings. Full details and registration information can be found here! ABA Check Fraud Claim DirectoryIt’s clear that the claims process in the banking sector has room for improvement. That’s why ABA has stepped up to create the ABA Check Fraud Claim Directory, which will streamline the process by making it easier to submit claims. With the troubling rise in check fraud and unprecedented levels of claims that banks receive — plus the long lead time required for bank employees to address those claims — the entire industry will benefit from this new resource. The directory provides contact information for banks needing to file a check warranty breach claim with another financial institution. The directory is searchable by bank name, city, state or FDIC number so banks can easily find a person or email address at the bank to help resolve a warranty breach claim. A PDF with detailed information is available for those banks that provided documentation requirements for filing a claim. To access the directory, your bank must participate by providing its fraud contacts. The more banks that participate in the directory, the more helpful it will be to the industry. ABA member and non-member banks are invited to participate in the ABA Check Fraud Claim Directory by submitting the appropriate check fraud claim contacts for their institution. Please provide contact information that will not be affected by personnel changes within the bank. ABA will verify all submissions before uploading them to the directory. We expect this process to take 5-10 business days but in rare instances there may be a longer delay. We will email you once your information is verified and your bank has been added to the directory. Submit your bank's check fraud claim contacts. Not sure if your bank is listed? Take a look at this spreadsheet which lists all banks already in the directory. ABA Statement on FDIC Proposals on Resolutions and Long-Term DebtBy Rob Nichols, President and CEO “The new rules proposed by the FDIC expanding resolution planning rules for banks with as little as $50 billion in assets and imposing long-term debt requirements for banks with assets of $100 billion or more are another step in the wrong direction. Today’s FDIC actions, in most cases over dissenting votes, come on top of last month’s misguided capital proposal and run counter to the bipartisan law Congress passed requiring that regulations be tailored based on a bank’s risk and business model. We will advocate strongly to ensure that regulators understand the harm that these overly broad rules would impose on customers, communities and the banks that serve them. “While we are concerned with the proposed expansion of resolution planning and long-term debt requirements, we believe that the FDIC’s potential reforms to the process of selling certain failed banks could be a positive development. By allowing a wider range of bidders — as long as they meet the same requirements that apply to any other parties seeking control of a bank or acquisition of deposits, or the requirements to purchase assets — these changes could potentially result in more price competition without diluting the appropriate safeguards on who can own a bank.”
Regulators to Study Copyright Issues Raised by AIThe U.S. Copyright Office will study copyright law and policy issues raised by the use of artificial intelligence systems, according to a notice posted today in the Federal Register. The proposed study will assess whether legislative or regulatory steps are warranted as the technology advances. As part of its research, the office will seek out public comment on issues such as the use of copyrighted materials used to train AI, the appropriate levels of transparency and disclosure concerning copyrighted works, and the legal status of AI-generated content. “Over the past several years, the office has begun to receive applications to register works containing AI-generated material, some of which name AI systems as an author or co-author,” the Copyright Office stated in the notice. “At the same time, copyright owners have brought infringement claims against AI companies based on the training process for, and outputs derived from, generative AI systems. As concerns and uncertainties mount, Congress and the Copyright Office have been contacted by many stakeholders with diverse views.” The office added that it has previously refused to grant copyright to AI-generated materials. The Copyright Office is seeking input on the potential risks and benefits of AI as well as whether the increasing use of the technology will have any effects on different business sectors.
CISA News: Dwell Time: 5 DaysDwell time = length of time cyber threat actors are in a compromised network before unleashing their crime. Five days for ransomware attacks is an extremely short turnaround time to identify breaches. Eight days for all cyber-attacks.
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