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September 10, 2025
In his first public appearance since being sworn into office, Comptroller of the Currency Jonathan Gould today emphasized the Trump administration’s recent “clarifications and changes to our existing policies” addressing charges of widespread debanking, then addressed the potential risk to bank deposits from stablecoins.
Speaking at a conference sponsored by the digital currency information group CoinDesk, Gould touted the two OCC announcements this week reminding banks of their legal obligations to protect their customers’ financial records even if that information is requested by government; and instructing on what the agency considers politicized or unlawful debanking in licensing applications filed by banks and in banks’ records of performance under the Community Reinvestment Act.
“And of course, we also announced that we will be investigating some of the largest banks to see what has been their pattern of practice, obviously consistent with the president’s [executive order on debanking],” Gould said.
Gould also made several arguments to the crypto-industry-friendly audience to address bankers’ concerns around stablecoins. ABA and state banking associations are seeking changes to the recent GENIUS Act, which created a regulatory framework for payment stablecoin issuers.
“We’re sensitive to concerns that some have raised about deposit flight from the banking system,” Gould said. “We will be designing a regulatory and supervisory framework to address that specifically. … If it looks like deposits are dramatically fleeing the federal banking system, that would be a source of concern at the OCC and I’m sure across other federal banking agencies too, and we would have, I think in large measure, control over whether or not that actually happened.
“If there were going to be any material impact to deposits as a result of stablecoin issuance, I don’t think that would happen overnight,” he added. “Meaning I think we would see it over time, and hopefully our elected officials, or at a minimum, obviously the federal banking agencies, would certainly have views on that and would be monitoring it very closely. [They] would take steps to address it, if indeed that kind of worst-case scenario did materialize.”
ABA: Bank marketers as revenue generators
September 9, 2025
During a congressional hearing today, House Republicans said onerous data collection requirements have redirected resources away from the Financial Crimes Enforcement Network’s core mission of fighting financial crimes, with Democrats alleging that the Trump administration has sought to undermine the federal government’s ability to enforce the law.
FinCEN Director Andrea Gacki appeared before the House Financial Services Subcommittee on National Security and Illicit Finance for an oversight hearing, where she provided a summary of the agency’s actions since President Trump took office. Subcommittee Chairman Warren Davidson (R-Ohio) said that while the Bank Secrecy Act was created with good intentions, over the years it has transformed into “a bloated surveillance machine, demanding endless reports from banks, businesses and individuals without delivering proportional results.”
“Today this framework is dangerously outdated and the BSA’s one-size-fits-all mandates are tying up lots of resources,” Davidson said.
Subcommittee Ranking Member Joyce Beatty (D-Ohio) accused the administration of engaging in “dangerous rollbacks in our illicit finance regulatory framework,” including reductions in the size and scope of the Consumer Protection Financial Bureau and in enforcement of the Corporate Transparency Act, which requires FinCEN to collect beneficial ownership information from businesses.
The administration is “exempting over 99% of the companies that Congress intended the law to cover,” Beatty said. “This stunning reversal eliminates a critical new tool for law enforcement to unmask anonymous shell companies, effectively making the United States the preferred haven for money laundering, traffickers and fraudsters.”
BOI changes
FinCEN in March issued an interim final rule removing the requirement for U.S. companies and persons to report BOI to the agency. Gacki said the agency is seeking to finalize the rule later this year.
“The current administration has taken a look at the [BOI] reporting structure and assessed that the burdens on small business fell too greatly and needed to be alleviated, and that is what FinCEN did through the interim final rule,” Gacki said.
“However, there are still instances where domestic shell companies can be leveraged for financial crime, and there I can point to other sources of information that can help law enforcement if the beneficial ownership information regime is not being used,” she added. “For example, FinCEN’s customer due diligence rule on financial institutions does require the collection of information at the point at which accounts are opened. And financial transactions and financial accounts are usually critical to all forms of shell companies in the United States.”
Gacki was also asked by committee members whether FinCEN plans to delete any BOI collected from companies that no longer need to comply with the reporting requirements. She said the agency intends to delete the data along with the finalization of the interim rule.
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ABA: Join ABA’s Fraud-Fighting Campaigns
 ABA’s scam prevention campaign, #BanksNeverAskThat, and our check fraud campaign, #PracticeSafeChecks are returning this fall — with new materials including social media posts and videos, check safety tips and resources for small business customers, digital graphics and more.
Participated in the past? Be sure to register again! Registration is free for all banks regardless of ABA membership status. Once registered, we will email you a link to access the campaign materials — please allow up to 24 hours for the email to arrive.
All of the assets for both campaigns will be available in one toolkit.
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CISA Strategic Focus: CVE Quality for a Cyber Secure Future
September 10, 2025
The Cybersecurity and Infrastructure Security Agency (CISA) released CISA Strategic Focus: CVE Quality for a Cyber Secure Future. This detailed roadmap identifies priorities that will elevate the program to meet the needs of the global cybersecurity community. The roadmap and priorities are informed by feedback the agency received from a broad spectrum of domestic and international partners and CISA’s years of program sponsorship.
Full Article
The Scenes of South Dakota Calendar features photos of South Dakota submitted by South Dakota bankers, their family members, and customers.
These calendars are a great opportunity to thank your customers for their business and promote your bank or business. Your bank, branch, or business logo and name can be printed on each calendar to display in homes and businesses all year round. The SDBA logo is also included to emphasize the strength and security of South Dakota’s banking industry.
The Scenes of South Dakota Calendar is exclusive to SDBA member banks and associate members.
Deadline: September 18
If you have any questions, email Laura Norton or call the SDBA Office at 605.224.1653.
2025 SDBA IMPORTANT FRAUD SURVEY
 The South Dakota Bankers Association (SDBA) is asking for your bank’s participation in the 2025 Important Fraud Survey. The survey link was sent to all SDBA member Chief Executive Officers on Thursday, September 4, with a follow-up reminder on Monday, September 8, requesting that someone from each organization complete it.
Fraud remains one of the most pressing challenges facing our industry, our institutions, and the customers we serve. The insights gathered through this survey will:
To build an accurate picture, we need 100% participation from member banks. Currently, only 15% have responded. Please make completing this survey a priority—the deadline is September 19.
Your input will directly impact how the SDBA represents and supports South Dakota banks on this critical issue. If you need the survey link resent, contact SDBA President Karl Adam at [email protected].
Thank you for lending your voice and helping us strengthen protections for both banks and their customers across our state.
Banking Forward: Fall Forum 2025
October 1, 2025 | Hilton Garden Inn South Sioux Falls
We’re excited to launch the 2025 Fall Bankers Forum, a brand-new event designed to bring together industry leaders and banking professionals for a powerful exchange of ideas, strategies, and solutions.
This newly developed forum will focus on three critical areas—technology, fraud prevention, and mortgage lending—providing a fresh platform for insight and collaboration. The event kicks off with a high-impact general session featuring a keynote speaker who will deliver forward-looking insights into the evolving financial landscape.
NOTE: Hotel room block releases August 31
Details & Registration
2025 SDBA Security Seminar
October 9, 2025
Enhance your organization’s security with training that’s practical and addresses what works for real people under highly chaotic and potentially dangerous circumstances. BLUE-U training focuses on people and the Life-or-Death Gap™. If you are going to assign the responsibility of keeping people secure, it’s critical those trained be highly skilled in security and true leaders. Learn how to create a culture that supports employee and customer security!
SEMINAR PRESENTER
 Joseph B.Hileman: Co-Founder - Executive Vice President | Hileman served as the Assistant Team Commander of the Monadnock Regional Special Response (SWAT) Team and for 21+ years as a Detective with the Jaffrey (NH) Police Department. Prior to his career in Law Enforcement, he served as Security Supervisor at the corporate management level of a Fortune 500 company. Mr. Hileman holds two A.A. degrees in Criminal Justice – Law Enforcement and Criminal Justice Corrections, Probation, and Parole.
Learn More & Register
2025 NDBA Compliance School
October 20-23, 2025 | Bismarck, ND| Zoom
Registration is open for NDBA Compliance School on October 20-23, 2025. This course is beneficial for compliance officers, internal audit staff, and any employee who assists with compliance management.
The NDBA Compliance School will consist of 2 Modules:
- Deposit Compliance (October 20-21)
- HSA/IRA Accounts
- Hot Topics/Compliance Peer Group Meeting
- CTR & SAR Filing Essentials
- ....and MORE!
- Lending Compliance (October 22-23)
- Building a CMS
- Appraisals
- Third Party Risk Management
- Flood
- LO Compensation & SAFE Act
- ...plus MORE!
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
Banking Matters Podcast
In this insightful discussion, attorney Jessica Guobadia shares her expertise on the complexities of probate, guardianship, and fiduciary litigation. She emphasizes the importance of understanding legal documents like powers of attorney and trusts, and the critical role banks play in safeguarding clients' interests. Jessica also highlights the need for thorough training and clear communication between legal professionals and financial institutions to ensure seamless service and protection for clients.
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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Questions/Comments
Contact the SDBA at 605.224.1653 or via email
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Episode 108