SDBA eNews

April 8, 2021

SDBA Seeks Bankers to Serve on Committees and Work Groups

The SDBA is seeking bankers to serve on four standing committees and four work groups for 2021-2022.

The committees are: Agricultural Credit Committee, Credit Card Committee, Legislative Committee and Trust Committee. The work groups are: Education Work Group, Emerging Leaders Work Group, Technology Work Group and Women in Banking Work Group.

Committee and work group terms are for one year beginning May 1, 2021. Committees and work groups generally meet one to two times a year to initiate activities and to recommend policy.

If you are interested in serving on a committee or work group, complete the Committee/Work Group Appointment Form at by April 30. Questions, contact Alisa Bousa. 

SDBA to Recognize Bankers for Years of Service at Quad States Convention

The SDBA will honor and recognize those bankers with 40 or 50 years of service in banking at the Quad States Convention in Rapid City during the SDBA’s business meeting breakfast on Tuesday, June 15, at 7:30 a.m. MDT.

The deadline to submit a years of service award to be presented at the Quad States Convention is May 14. Years of service awards can also be awarded at the bank. Submit a years of service award for a banker.

Bankers who have passed away this past year will be remembered at the 2021 Quad States Convention in Rapid City during the SDBA’s business meeting breakfast on Tuesday, June 15, at 7:30 a.m. MDT. The deadline to submit a name for the memorial service is May 14. Submit a name for the memorial service.

ABA, Financial Trades Raise Concerns About Proposed Call Report Changes

ABA joined the Bank Policy Institute and the Securities Industry and Financial Markets Association in a letter to the federal banking agencies providing feedback on recent proposed changes to the Call Report. Among other things, the groups raised concerns that several of the new reporting items are duplicative of existing requirements, such as data on sweep deposits that firms already report in the FR 2052a.

The groups also raised concerns around the confidential treatment of Call Report memorandum items, as well as the implementation timeline. They urged the agencies to postpone the implementation of the new reporting requirements until the March 30, 2022, report date. Additionally, they urged the agencies to confirm that firms are permitted to incorporate the new brokered deposit rules starting with the June 30 as-of date, and to provide additional clarification around a requirement for firms to report data on sweep accounts that are “not fully insured.” Read the letter. For more information, contact ABA’s Alison Touhey.

Treasury Releases Details on Proposed Tax Changes

The Treasury Department yesterday provided additional details on the Biden administration’s proposed changes to the U.S. tax code. According to a report issued yesterday, the changes include: an increase of the corporate tax rate from 21% to 28%, a 15% minimum tax on book income that would apply to the largest corporations, a global minimum tax for U.S. multinational corporations, an increase to the global intangible low-taxed income rate, and the elimination of a deduction for foreign-derived intangible income.

In addition to these proposals, the administration is also calling for increased enforcement around corporate tax evasion and increased audits of corporations by the Internal Revenue Service, among other things. Read the report. ABA has an active tax committee and will engage on revenue-raising proposals that affect banks. For more information, contact ABA’s John Kinsella.

Learn How Micro-Internships Can Help Solve Bank Hiring Challenges

Whether you're in need of on-demand project support, looking for a scalable win-win to connect with students from underrepresented backgrounds or looking for ways to connect with students in this virtual environment, micro-internships can be a valuable tool. BankTalentHQ, an SDBA endorsed vendor, has partnered with Parker Dewey, an organization which specializes in coordinating the innovative concept of micro-internships.

Micro-internships are short-term, professional projects that typically require between 10 to 40 hours of work by the college student or recent grad and are due within a few days to a few weeks. While the projects may not be the best use of time for you or your team, college students and recent grads are excited to gain professional experience.  As a result, not only do you get on-demand support, but this also allows banks to see if someone is a good fit for a permanent role.

BankTalentHQ will hold a free webinar on Tuesday, April 13, at noon CDT to learn more about Parker Dewey and micro-internships. Join BankTalentHQ for a demo and walkthrough of how this scalable concept supports financial service companies and students alike.  Learn more and register for the webinar

BankTalentHQ to Host Virtual Career Fair in April

Finding top talent to add to the teams at your bank can be a challenge and doing so has become even harder during the pandemic. BankTalentHQ, an SDBA endorsed vendor, will hold a virtual career fair on Tuesday, April 20, to assist in overcoming this challenge.

From 9 a.m. to 4 p.m. CDT, employers will be able to choose select times to be available to chat with job seeking candidates seeking full-time, part-time and internship positions. The candidates will be diverse students and alumni from colleges and universities across the U.S. 

Banks can lower their recruiting costs by using BankTalentHQ's online virtual solution to screen and recruit quality candidates and can interact in their own chat room with the option to conduct video interviews. Companies will have unlimited access to all registered candidates’ information including exporting electronic resumes. The cost to participate in the virtual career fair is $595. Learn more and register to participate

GSB Moves to Virtual Instruction for First- and Second-Year Students

The 2021 session of the Graduate School of Banking (GSB) at the University of Wisconsin-Madison will be held virtually for freshmen and junior students, marking the first time ever that the 25-month leadership development program will be presented online. No decision has been made about the senior class, but an announcement will be made no later than April 9.

Despite the change in delivery, GSB plans to keep to its normal schedule with courses over full days Aug. 1-13 and a break over the middle weekend. Students will benefit from professional moderating services and a robust learning management system to ensure a quality experience. Tuition for first-and second-year students has been reduced for online delivery by more than 20% to $3,095. Scholarship values remain unchanged.

Following the cancellation of the 2020 session, demand for the school has been unprecedented. With just 15 seats remaining, the incoming class is nearly sold out. Bankers interested in beginning this program, which leads to a diploma in bank management from GSB and a Certificate of Executive Leadership from the Wisconsin School of Business Center for Professional and Executive Development, are encouraged to apply soon as space is extremely limited. Learn more and apply

GSBC Plans for In-Person and Virtual Annual School Session

The Graduate School of Banking at Colorado (GSBC) plans to host its 70th annual school session July 18-30 in person on the University of Colorado Boulder campus while giving students the option to participate in a virtual learning experience in tandem with the two-week school. 

Due to social distancing requirements, classroom sizes will be much smaller, causing a greater physical footprint on campus. GSBC’s faculty will be expanded to include instructors and facilitators to conduct small group discussions outside of the main lecture, and live-streaming technology will be used to connect multiple small groups in larger classes. A local hotel will be utilized for additional classroom space and will serve as an additional housing option for students who request it.

Virtual attendees will attend sessions live where they can interact with in-person students and instructors in a dynamic group environment. Faculty members are currently undergoing extensive training to prepare course discussions and materials for a hybrid learning environment.

Students have been asked to declare their initial attendance (in-person or virtual) preference and have until June 1 to change their plans without penalty. Additionally, a flexible cancellation policy is in place. Learn more and apply


Question of the Week

Question: What constitutes “demonstrable consent” when meeting ESign requirements? Are banks required to collect information that the consumer actually read the disclosure apart from just acknowledgement? 

Answer: The statutory requirement can be found in 15 USC §7001, and reads as follows:

"[T]he consumer—

(i) prior to consenting, is provided with a statement of the hardware and software requirements for access to and retention of the electronic records; and

(ii) consents electronically, or confirms his or her consent electronically, in a manner that reasonably demonstrates that the consumer can access information in the electronic form that will be used to provide the information that is the subject of the consent[.]"

Technically, the statute does not require that the consumer actually read the statement of hardware and software requirements--the consumer just needs to be presented with them.

As for "demonstrable consent," typically the consumer must either first consent, or later confirm any prior consent they gave, using the same method of delivery by which they'll be receiving the disclosures. C/A considers that to be a manner that "reasonably demonstrates" a consumer’s ability to access electronic information, in accordance with the statutory requirement above. Best practice would be for the consumer to show some evidence that they viewed the actual e-SIGN disclosure (such as by including a numeric code in the document and then asking them to enter that code when providing consent), but it is not absolutely required to do that as long as the process meets the bare minimum statutory requirements.

Not a member? Learn more about membership with Compliance Alliance by attending one of our live demos:

Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call 888.353.3933 or email and ask for our Membership Team.

For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.

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Contact Alisa Bousa, SDBA, at 605.224.1653 or via email.