In This Issue

• SDBA Taking Orders for 2018 Scenes of South Dakota Calendar
• Registration Open for 2017 Bank Directors' College
• ABA-Advocated Thrift Flexibility Bills Introduced in Senate, House
• Reps Ross, Castor Introduce ABA-Backed Flood Insurance Reform Bill
• CFPB Publishes Guide to Prepaid Rule Disclosures

• SDBA Ag Credit Conference Hotel Block To Be Released Monday

SDBA Taking Orders for 2018 Scenes of South Dakota Calendar

The SDBA is offering the 2018 Scenes of South Dakota Calendar featuring 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 long.

The Scenes of South Dakota Calendar is exclusive to SDBA member banks and associate members. Calendar orders are due by Sept. 1, 2017, to get the low price of $1.19 per calendar. All orders will be shipped Nov. 1, 2017. Place your order today.

If you are an amateur photographer, send the SDBA your photos of farms, barns, agricultural activities, historical South Dakota locations, county fairs, carnivals, parades or festivals, fall colors, winter snowfalls, spring flowers or summer fun. Any photo that shows the history or beauty of South Dakota qualifies. The deadline to submit a photo is July 28, 2017, and all photos will be judged with the top photos featured in the 2018 Scenes of South Dakota Calendar. View the photo submission form.

Registration Open for 2017 Bank Directors' College

Registration is now open for the 2017 Bank Directors' College on May 2 at the Sioux Falls Convention Center. The event is being held by the FDIC in partnership with the South Dakota Division of Banking, Independent Community Bankers of South Dakota and the South Dakota Bankers Association.

This one-day educational seminar was designed with outside directors in mind, but the presentations will include up-to-date information on various emerging issues relevant to all bank directors. The presentations will be delivered by a group of experienced FDIC speakers and subject matter experts.

Learn more and register.

ABA-Advocated Thrift Flexibility Bills Introduced in Senate, House

 
Reps. Keith Rothfus (R-Pa.) and Jim Himes (D-Conn.) and Sens. Heidi Heitkamp (D-N.D.) and Jerry Moran (R-Kan.) yesterday introduced ABA-advocated bills to help federal savings associations serve their customers more flexibly while retaining their unique thrift charter.

The bills would provide a simple process for thrifts to elect to receive the lending powers--and compliance responsibilities--of national banks without changing their Home Owners Loan Act charters. They would give thrifts more options to diversify their portfolios.

“These bills are the epitome of sensible regulatory relief,” said ABA EVP Bob Davis. “They will allow mutual and stock savings associations chartered under the Home Owners Loan Act to better serve the needs of their communities without having to go through lengthy and costly charter conversions.”

The proposal--a key part of ABA’s Blueprint for Growth--is modeled on an approach championed by Comptroller of the Currency Thomas Curry when he was commissioner of banking in Massachusetts. The OCC is supportive of the concept behind the legislation, and a similar bill cleared the House Financial Services Committee unanimously in the last Congress.

“ABA has long championed greater flexibility for HOLA-chartered institutions to adapt their business models to changing demographics and changing needs in their communities,” added Davis. “Federal saving associations have a long, proud history of being responsive to their communities’ needs, and this legislation will help them to enhance and continue that record.” Read more.

Reps. Ross, Castor Introduce ABA-Backed Flood Insurance Reform Bill

   
Reps. Dennis Ross (R-Fla.) and Kathy Castor (D-Fla.) yesterday introduced a bipartisan, ABA-backed bill to promote the development of a robust private flood insurance market to compete with the National Flood Insurance Program. Sens. Jon Tester (D-Mont.) and Dean Heller (R-Nev.) are expected to introduce a companion bill in the Senate soon.

A similar bill cleared the House Financial Services Committee and the full House last year on a bipartisan basis. It revisits the narrow definition of what qualifies as private flood insurance under the 2012 Biggert-Waters law, thus expanding state regulators’ flexibility to license private flood insurance products. Read more.

CFPB Publishes Guide to Prepaid Rule Disclosures

 
The Consumer Financial Protection Bureau has published a guide on the short-form disclosures required by its final rule on prepaid accounts. The guide provides basic instructions on how to prepare the disclosures for prepaid accounts other than government benefit accounts or payroll account cards. The final rule, which takes effect Oct. 1, 2017, amends Regulation E to encompass prepaid cards as well as Regulation Z to cover prepaid products with credit-style elements.

To help bankers comply with the final rule, ABA has also created a staff analysis which defines prepaid accounts, outlines pre-acquisition and initial required disclosures, describes alternatives to the periodic statement requirement and covers public posting of agreements.

• View the CFPB guide.  
• Read ABA's staff analysis.
• For more information, contact ABA's Nessa Feddis.
  

SDBA Ag Credit Conference Hotel Block To Be Released Monday

 
The deadline to reserve a room from the SDBA's hotel block for the 2017 Agricultural Credit Conference is Monday, March 13. This year's conference will be held April 12-14 at the Ramkota Hotel and Conference Center in Pierre.

There are ways banks can position for success in agriculture's challenging times, and attending the 2017 Agricultural Credit Conference will be a step in the right direction. The SDBA has lined up speakers on a variety of timely topics to help bankers navigate through stressful times. The SDBA Agricultural Credit Conference is a two-day conference designed for all ag lenders. Experienced and new ag lenders, as well as CEOs, will all benefit from this conference.

To request a room out of the SDBA block for the special rate of $95.99 per night, call the Ramkota Hotel at 605.224.6877. Learn more and register.