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The IRS and Treasury Department have published guidance and announced plans to issue regulations for “Trump Accounts,” which are a new type of individual retirement account for children created by Congress earlier this year.
Parents and guardians can create Trump Accounts for children under 18, although contributions to the accounts cannot be made before July 4, 2026, and are limited to $5,000 annually in aggregate, according to the IRS. The federal government will also make a one-time $1,000 pilot program contribution to the account for each eligible child if they are a U.S. citizen born on or after Jan. 1, 2025, through Dec. 31, 2028. Certain governmental entities and charities may also make qualified general contributions to the accounts. Employers may contribute to an employee’s or employee dependent’s Trump Account up to $2,500 (counts against annual aggregate limit), and the contribution will not count towards the employee’s taxable income.
The IRS has posted a draft version of Form 4547, Trump Account Election(s), that will be used to establish a Trump Account and to enroll in the pilot program. The agency is also seeking public comments on forthcoming proposed regulations to implement the accounts, with comments due by Feb. 20, 2026.
ABA Banking Journal: FBI issues alert about account takeover fraud
December 3, 2025
 The FBI’s Internet Crime Complaint Center has issued a consumer alert about cyber criminals impersonating financial institutions to steal money or engage in account takeover schemes.
In account takeover fraud, cyber criminals gain unauthorized access to a targeted online financial institution, payroll or health savings account, with the goal of stealing money or information for personal gain, according to the FBI. Since the beginning of the year, the agency’s IC3 has received more than 5,100 complaints about account takeover fraud, with losses exceeding $262 million.
The alert offers tips to guard against account takeover fraud, including being careful about what information individuals share online and verifying the legitimacy of “banking” or “company” employees who call customers seeking confidential information, such as passwords. It also provides steps for individuals to take if they have been targeted by scammers.
In related news, the American Bankers Association’s #BanksNeverAskThat campaign offers banks resources to share with customers on how to protect themselves from phishing and other scams. Registration is free.
Full Article
ABA Banking Journal: Top Democrats seek guidance, plan for addressing penny shortage
December 3, 2025
The top Democrats on the Senate Banking and House Financial Services committees today urged federal officials to provide “immediate guidance” about the current penny shortage.
Earlier this year, President Trump directed the Treasury Department to stop producing pennies. The U.S. Mint produces coinage while the Federal Reserve distributes coins to banks and credit unions.
In a letter, House Financial Services Committee Ranking Member Maxine Waters (D-Calif.) and Senate Banking Committee Ranking Member Elizabeth Warren (D-Mass.) said neither the Treasury Department nor the Fed has provided guidance or formulated a plan to manage penny circulation to meet current and future demand.
“This sudden change in policy has created challenges for banks, retailers and consumers,” the lawmakers said, citing news reports and statements from the American Bankers Association and other organizations.
Waters and Warren asked the agencies to produce a plan by Dec. 12 to manage the removal of the penny from circulation. They are also seeking answers to several questions, such as whether the agencies sought comment from banks and others before ending penny production.
Full Article
ABA Banking Journal: House lawmakers press banking regulators on tailoring, debanking
December 2, 2025
The top banking regulators appeared before House lawmakers today to answer questions on regulatory tailoring, debanking and other issues.
Federal Reserve Vice Chair for Supervision Michelle Bowman, FDIC Acting Chairman Travis Hill, Comptroller of the Currency Jonathan Gould and National Credit Union Administration Chairman Kyle Hauptman were peppered with questions on a variety of banking topics during a House Financial Services Committee oversight hearing. One question regulators were asked repeatedly is what their agencies are doing to better tailor regulation to bank size and risk.
“This hearing is about enhancing clear, tailored rules of the road, fostering competition and ultimately serving the best interests of consumers and businesses,” committee Chairman French Hill (R-Ark.) said in his opening remarks.
Among the hearing highlights:
- All three banking regulators pointed to ongoing efforts to revise regulatory thresholds and better tailor their supervisory processes. Committee members also pointed to ongoing legislative efforts, with Rep. Andy Barr (R-Ky.) suggesting that the Dodd-Frank Act’s Durbin Amendment – which sets debit card interchange fees – should be indexed to nominal GDP. “Because of the Durbin Amendment and some of these other regulatory triggers at $10 billion, [growing banks] have to rapidly expand their balance sheet and increase their presence in new markets and activities and new business lines to account for the additional interchange costs that they would face,” he said.
- In her opening remarks, Bowman said the Fed is currently seeking ways to more effectively tailor the merger and acquisition and de novo chartering application processes for community banks. “We are exploring streamlining these processes and updating the Federal Reserve Board’s merger analysis to accurately consider competition among small banks,” she said.
- The day before the hearing, the committee released a report on alleged debanking of cryptocurrency businesses during the Biden administration. The regulators said they have taken steps to reverse those actions, such as by removing reputational risk from supervision.
- Ranking Member Maxine Waters (D-Calif.) accused the Trump administration of trying to “get rid” of the Community Development Financial Institutions Fund. Bowman, when asked about the fund, said she supports the mission of CDFIs. “We definitely recognize the important role that CDFIs play in expanding access to capital and to financial services,” Bowman said. “The Federal Reserve continues to have a program that supports CDFIs from a technical perspective, which is called Partnership for Progress. And these are important investments that the Federal Reserve continues to make.”
Business groups seek bank capital rule reforms
In a joint statement submitted ahead of the hearing, the American Bankers Association joined the Financial Services Forum and 14 other business groups in urging regulators to modernize bank capital rules. “Specifically, common sense adjustments to Basel III Endgame, the GSIB surcharge, stress testing and leverage requirements will improve access to credit and reduce the costs of goods and services for American businesses and consumers, ensuring the U.S. economy can continue to thrive and grow,” they said.
“It has been more than 15 years since the implementation of heightened bank regulation, and it is important to take a comprehensive look to ensure capital rules are working in today’s economy as intended without constraining U.S. economic growth and competitiveness around the globe for the future,” the groups said. “Now is the time to modernize our capital framework to unleash economic growth for American businesses and consumers across the country.”
2026 Holiday Signs
 The SDBA offers holiday signs that banks can print and display to notify customers when the bank will be closed for standard holidays. The signs are set up to be printed on 8.5x11" paper and are provided as a high-resolution pdf file. Banks may print these signs and use as they see fit.
2026 Holiday Signs
2026 GSBC Bolder Banking Scholarship Program
The Graduate School of Banking at Colorado (GSBC) and the SDBA are partnering to recognize community banks across South Dakota that are redefining what it means to serve customers and communities boldly.
Through the Bolder Banking Scholarship, GSBC will award one SDBA member bank for its innovative, community-driven approach to banking. The recipient bank will then select a rising star employee to attend GSBC’s flagship Annual School Session in Boulder, Colorado, using the scholarship toward tuition. SDBA member banks may nominate themselves or another bank demonstrating innovation and bold leadership in banking.
Nomination deadline: February 1, 2026 | Recipient announced: March 1, 2026
Submit a Nomination
Learn more about GSBC and the Bolder Banking Scholarship at www.GSBColorado.org.
2026 Understanding Bank Performance
January 8, 9, 15, 16, 22, 23, 29, 30 | 10am-12pm CST | Virtual
Participants will learn how to assess and analyze a bank’s financial performance by working with data from real institutions. Using financial statements from one sample financial institution along with statements from their own banks, participants will become familiar with the ins and outs of balance sheets and income statements and learn how to apply key performance metrics to the data presented in these documents.
Having learned how to interpret and analyze a bank’s financial statements, participants will gain deeper insight into the factors affecting bank performance. Later sessions in this course will address ways in which performance may be hindered or improved by funding strategies and risk management. Ultimately, participants will be able to review a bank’s financial statements to identify strengths and weaknesses and be able to recommend changes that will lead to improved performance.
In the final session of this course, participants will put what they have learned into practice. Participants will analyze a new data set, rate the bank’s performance and suggest strategic adjustments that might benefit the bank.
Details & Registration
2026 Midwest Economic Forecast Forum
Wednesday, January 14, 2026 | 11:00 a.m. - 12:45 p.m. CST
Prepare for 2026 by joining an economic discussion with Federal Reserve Bank President Neel Kashkari. Time will be allowed for open Q&A during this virtual event.
Bankers are encouraged to invite their business clients and local community leaders to tune in to these economic insights together. Individuals or group registration rates are available.
Details & Registration
2026 National Ag School for Beginning Ag Bankers
June 22-25, 2026 | Spearfish
 Ready to take your agricultural lending skills to the next level? Join us June 22-25, 2026, on the scenic campus of Black Hills State University in Spearfish, SD for an immersive, hands-on school designed specifically for beginning ag bankers. Sponsored by the South Dakota Bankers Association, this intensive program covers all aspects of ag lending—including credit analysis, scoring and risk rating, managing problem loans, and collaborative case studies.
CURRICULUM HIGHLIGHTS
The National School for Beginning Ag Bankers is designed to give you the knowledge and confidence to make smarter, stronger lending decisions. Perfect for ag bankers with zero to three years of experience, this program blends expert instruction with practical, hands-on learning.
What You’ll Learn:
- The current ag economy and industry trends
- Balance sheet and working capital analysis
- Earnings and cash flow analysis
- Futures, options, and risk management strategies
- Loan servicing and management assessment
- Customer profiling and relationship-building techniques
With 25+ hours of interactive instruction, you’ll tackle real-world challenges through case studies and problem-solving exercises. A dynamic bank simulation lets you see firsthand how your lending decisions impact the entire bank operation—across all departments.
Details & Registration
Online Education
Participating in learning opportunities outside the bank can be challenging. Take advantage of the SDBA's extensive selection of webinars and on-demand training to enhance your banking expertise directly from your computer.
GSB Online Seminars
OnCourse Learning
SBS Institute
ABA Training
Learn how to put compliance management solutions from Compliance Alliance to work for your bank, by contacting (888) 353-3933 or [email protected] and ask for our Membership Team. For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.
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Contact the SDBA at 605.224.1653 or via email
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