SDBA Seeking Bankers to Serve on Standing Committees
The SDBA is looking for bankers to serve on its standing committees for 2015-2016. SDBA committees are: Agricultural Credit Committee, Credit Card Committee, Legislative Committee and Trust Committee.
Committee terms are one year beginning May 1, 2015, and ending April 30, 2016, with the exception of Legislative Committee members who serve three-year terms. Committees meet once or twice a year to initiate activities and recommend policy.
If you are interested in serving on a committee, please complete the committee request form by May 1. Those currently serving on a committee will not be automatically reappointed and need to complete the form if they would like to continue serving. If you have questions, contact the SDBA office at 605.224.1653 and ask to speak to Curt Everson or Deb Gates.
Exhibitors: WE WANT YOU for SDBA/NDBA Annual Convention
The SDBA is calling all business partners to exhibit at the 2015 SDBA/NDBA Annual Convention: Banker Boot Camp.
The Annual Convention will be held June 7-9 at the Sioux Falls Convention Center/Sheraton Hotel in Sioux Falls, S.D. This year’s event will refresh bankers on the basics of banking and provide an arsenal of ideas and practical ammunition to help bankers emerge as winners in the regulatory battle.
Exhibitors will have the opportunity to promote their products and services, position their solutions with top-level bank executives, show their support for the banking industry, interact with association members and celebrate their achievements.
The deadline to sign up for a booth is May 4. Space in the exhibit hall is limited, so register early to reserve your spot. Learn more.
MasterCard Inks $19 Million Data Breach Settlement with Target
MasterCard and Target last night announced a $19 million settlement of claims by MasterCard and its card issuers related to losses from Target’s 2013 data breach. The funds will settle claims from banks for operational costs -- including costs from reissuing cards -- and fraud-related losses on MasterCard-branded cards that MasterCard believes were affected by the breach.
The settlement is contingent on issuers representing at least 90 percent of eligible MasterCard accounts accepting offers through the settlement by May 20. Issuers that do not accept the settlement will have their claims determined by MasterCard’s internal processes.
If the settlement is completed, issuers who accept it are expected to be paid by the end of June. MasterCard will host three conference calls today to brief issuers on the settlement terms. The times and dial-in numbers for the calls are 8 a.m. EDT (800-230-1951), 12 noon EDT (800-288-9626) and 6 p.m. EDT (800-553-0273).
ABA continues to advocate with MasterCard and Visa for more timely payments after breaches with higher reimbursement levels for lower-volume issuers for future breaches. Read more. For more information, contact ABA’s Molly Wilkinson.
Keating Media Appearances Focus on Farm Credit, 2016 Campaign
ABA President and CEO Frank Keating discussed regulatory burden and reforming the Farm Credit System in several local North Dakota and South Dakota radio interviews this week.
In appearances reaching more than 150,000 listeners in key markets across the upper Midwest, Keating emphasized the need for a level playing field between banks and the Farm Credit System, as well as for Congress to remove impediments to banks serving their customers -- both elements of ABA’s Agenda for America’s Hometown Banks.
Keating also appeared this week on CNN International to discuss the 2016 presidential campaign. He said that middle-class voters would be closely watching to see what candidates best articulate a positive economic message.
'Tax Day' Ads Spotlight Credit Union Tax Exemption
In recognition of Tax Day, the Financial Education and Advocacy Initiative ran ads Wednesday spotlighting credit unions’ outdated tax exemption. FEAI is the 501(c)(4) nonprofit that ABA’s board organized in 2012 to help strengthen the banking industry’s voice in Washington.
“Today, the average American family will pay $11,402 in federal income taxes,” says the print ad, which ran in Politico, a prominent Capitol Hill newspaper. “The $1 trillion credit union industry will pay $0.” ABA President and CEO Frank Keating made the same point in a local radio spot, adding that credit unions “are on vacation while we have to work.”
The SDBA also encouraged member banks to run the ads in their markets. View the print ad. Listen to the radio ad.
Fed Adopts ABA-Advocated Rule Expanding Small Bank Relief
The Federal Reserve last week adopted a final rule that expands the regulatory relief provided by its small bank holding company policy statement. The rule implements legislation passed by Congress in December that had been a long-standing policy priority for ABA and the state bankers associations.
Specifically, the rule raises the asset threshold of the Fed’s policy statement from $500 million to $1 billion and applies it for the first time to savings and loan holding companies. This will make it easier for community banks and thrifts to issue debt and raise capital.
The rule is effective 30 days after publication in the Federal Register.
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