- Education & Events
- Advocacy
- Products & Services
- Membership
- Resources
- SDBANKER Magazine
- SDBA eNews
- SDBA eNews Archives
- Legislative Update/Bill Watch
- South Dakota Bank Directory
- Women in Banking
- Scenes of South Dakota Calendar*
- Holiday Signs
- Regulatory Report
- South Dakota Banking Code
- Record Retention Manual
- Advertising & Sponsorship Guide
- COVID-19 Resources
- Mental Health and Crisis Prevention
- About
|
News
SDBA Updates
SDBA Events
Online EducationCompliance AllianceABA Banking Journal: Senate Banking Committee postpones vote on crypto market structure billJanuary 14, 2026
Congress last year passed the Genius Act, which established a regulatory framework for payment stablecoins. The market structure bill would do the same for a broad range of digital assets. The committee had planned to take up the bill in a markup session on Thursday. The American Bankers Association has been urging senators to use the bill to close a loophole that could allow crypto firms to bypass the Genius Act’s prohibition on paying interest or yield on payment stablecoins. In addition, more than 10,000 bankers have sent letters to Senate offices in recent days calling on Congress to expand the prohibition, citing the risks posed to bank deposits and local lending, according to ABA. Earlier in the day, the CEO of the crypto exchange Coinbase announced the company was dropping its support for the market structure legislation. In a statement, Scott said he has spoken with several stakeholders “and everyone remains at the table working in good faith.” “This bill reflects months of serious bipartisan negotiations and real input from innovators, investors and law enforcement,” Scott said. “The goal is to deliver clear rules of the road that protect consumers, strengthen our national security, and ensure the future of finance is built in the United States.” Scott did not immediately set a date for a new markup session on the bill. Back to TopABA Banking Journal: Two major newspaper editorial boards slam proposed 10% credit card rate capJanuary 14, 2026
President Trump on Monday proposed imposing a one-year 10% cap starting Jan. 20. He did not say whether he intends to implement the cap through executive action or if he expects Congress to pass legislation to make it effective. Sens. Bernie Sanders (I-Vt.) and Josh Harley (R-Mo.) previously introduced legislation to create a cap, and a related bill has been introduced in the House. In its editorial, the Washington Post said compliance with the cap would be impossible. “There is simply no way to offer short-term, unsecured credit to the vast majority of people at interest rates as low as 10%,” it said. “Interest rates reflect the risk that lenders take on when making a loan. Higher risk means higher rates.” The Wall Street Journal pointed to research that found that lenders restricted credit in Arkansas and Illinois after both capped interest rates. “When lower-income Americans are regulated out of the card market, they may turn to payday loans that charge even higher rates,” it said. Both editorial boards said the cap would ultimately harm low-income Americans and have larger repercussions for the U.S. economy. “Retailers, which are among the country’s largest employers, would be crippled by declining purchase volume,” according to the Washington Post. “Some airlines and hotels, which rely on affinity card deals for huge shares of their revenue, could go bankrupt. A giant shock to the banking system would hurt an untold number of small businesses in unforeseen ways.” Back to TopABA Banking Journal: AI romance, ‘machine-to-machine’ scams among top 2026 fraud trends
Experian said its data found nearly 60% of companies reported an increase in fraud losses from 2024 to 2025. “This year’s forecast shows fraudsters are rapidly weaponizing technologies to launch attacks that are more autonomous and harder to detect,” it said. Among the top five fraud trends for 2026 were romance and relative-in-need scams, which were traditionally carried out by people using false identities. Now AI can carry out these complex scams, according to Experian. “These bots will respond convincingly, build trust over time, and manipulate victims with precision and emotion,” the company said. “As they become harder to distinguish from real people and good bots, Experian predicts fraud will scale faster and become more financially and psychologically damaging.” Another risk comes as more companies incorporate AI to conduct routine transactions while fraudsters increasingly turn to AI to commit fraud. “With machine-to-machine interactions initiating transactions without clear ownership of liability, businesses will face growing uncertainty around agent ownership, intent and risk,” Experian said. The other top fraud trends include the use of deepfake technologies to create fake resumes and backgrounds for job candidates, unsecured smart home systems, and the use of website cloning to replicate legitimate websites for phishing schemes. Back to TopCISA News: Financial Services SectorCISA creates reports on vulnerabilities and risks for specific industry critical infrastructure sectors. (Here’s a list of all 16 critical infrastructure sectors, including the Financial Services Sector) Sector DetailsThe Financial Services Sector represents a vital component of our nation's critical infrastructure. Large-scale power outages, recent natural disasters, and an increase in the number and sophistication of cyberattacks demonstrate the wide range of potential risks facing the sector. OverviewThe Financial Services Sector includes thousands of depository institutions, providers of investment products, insurance companies, other credit and financing organizations, and the providers of the critical financial utilities and services that support these functions. Financial institutions vary widely in size and presence, ranging from some of the world’s largest global companies with thousands of employees and many billions of dollars in assets, to community banks and credit unions with a small number of employees serving individual communities. Whether an individual savings account, financial derivatives, credit extended to a large organization, or investments made to a foreign country, these products allow customers to:
Sector-Specific PlanThe Financial Services Sector-Specific Plan details how the National Infrastructure Protection Plan risk management framework is implemented within the context of the unique characteristics and risk landscape of the sector. Each Sector Risk Management Agency develops a sector-specific plan through a coordinated effort involving its public and private sector partners. The Department of the Treasury is designated as the Sector Risk Management Agency for the Financial Services Sector. Presidential Policy Directive 21 changed the name of the Banking and Finance Sector to the Financial Services Sector in 2013. RecommendationsImmediate Recommendations:
Near Term Recommendations:
Longer term Recommendations:
Back to Top |
Senate Banking Committee Chairman Tim Scott (R-S.C.) today delayed a scheduled committee vote on cryptocurrency market structure legislation. The decision to postpone the vote followed intense lobbying by banking groups and crypto advocates over a provision to restrict stablecoin interest payments, as well as other issues.
A proposed 10% cap on credit card interest rates would harm consumers by making credit less accessible and have negative consequences for businesses of all sizes, the Washington Post and Wall Street Journal wrote in separate editorials this week.
Romance scams carried out by artificial intelligence and computers scamming other computers are among the top five fraud trends to watch out for in 2026, according to 
