SDBA eNews

March 2, 2023

SDBA's Women in Banking Virtual Power Hour to be Held on March 9

The SDBA is hosting a new event: a Women in Banking POWER HOUR (and a half) to be held virtually on March 9 from 3:30 - 5:00 CST. We hope you can join us to connect, collaborate and catch up!

Melissa Eich, RN and founder of Melissa Eich Coaching is our guest speaker, and she will help us focus on changing our mindset. We'll also talk about the 2023 Women in Banking event and have the chance to network with friends and colleagues. For details and to register for this FREE event, click here.  Registration is required to help us manage our Zoom account. 


National "Slam the Scam" Day Recognized on March 9

National “Slam the Scam” Day is designated by Social Security’s Office of the Inspector General to raise awareness of government imposter scams, which continue to spread across the United States. Slam the Scam Day is Thursday, March 9, 2023, as part of National Consumer Protection Week, which takes place this year from March 5-11. We’re partnering with other government agencies to raise public awareness of government imposter scams that continue to happen nationwide. 

The Social Security Administration has provided free resources to be shared - help protect your community by sharing #SlamTheScam content during National Consumer Protection Week, March 5-11, and beyond!


SBS Institute Offering Certified Banking Vendor Manager Certification

This online, self-paced course offers real-world exercises to build a comprehensive vendor management program for your bank. Registration opens March 7 and ends on March 21. Participants are allowed 10 weeks to complete the course. 

Click here to learn more and register

Topics

  • Vendor Breaches, Laws, and Regulations
  • Information Security Program and Risk Management
  • Selection of Vendors
  • Ongoing Vendor Management
  • Creating a Dynamic Vendor Management Program
  • Contract Structuring
  • IT Audit and Exam Preparation

ABA, FTC and BBB Webinar: Top Scams Against Consumers

Consumers of all ages are being targeted. Scammers are after Americans’ bank accounts, personal data, nest eggs and more. Scammers promote fraudulent get-rich-quick schemes, impersonate credible businesses and people, and play on consumers’ emotions to steal their hard-earned money.

Join ABA Foundation, the Federal Trade Commission, and the Better Business Bureau Institute for Marketplace Trust on March 7 at 2:00 p.m. CST to learn about top scams and their effects on different demographics of Americans. Also, get access to the BBB’s newest Scam Tracker Risk Report.

Featured Speakers:

  • Melissa “Mel” Trumpower, Executive Director, BBB Institute for Marketplace Trust
  • Gauri Sharma, Vice President, Professional Certifications, American Bankers Association
  • Samuel Kunjukunju, Vice President, Consumer Education, ABA Foundation
  • Bridget Small. Consumer Education Specialist, FTC
Click here to view more information and register


USDA Rolling Out Revenue Based Disaster and Pandemic Assistance Programs 

Starting Jan 23, agricultural producers can begin to apply for two new important programs for revenue losses, from 2020 and 2021 natural disasters or the COVID-19 pandemic. Both programs equitably fill gaps in earlier assistance. 

First, you may be eligible for assistance through the Emergency Relief Program (ERP) Phase Two if you experienced revenue losses from eligible natural disasters in 2020 and 2021. ERP Phase Two is for producers who didn’t receive assistance from ERP Phase One.   

You may also be eligible for the Pandemic Assistance Revenue Program (PARP) if you experienced revenue losses in calendar year 2020. PARP is addressing gaps in previous pandemic assistance, which was targeted at price loss or lack of market access, rather than overall revenue losses.     

Applications for both new programs are due June 2, 2023, and you can apply for both programs during your same appointment with USDA’s Farm Service Agency (FSA). 

Historically, FSA programs have been designed to make direct payments to producers based on a single disaster event or for a single commodity loss. For many of you, this may be the first revenue-based program that you’ve applied for with FSA. 

Why revenue-based programs?    

ERP Phase Two and PARP take a much more holistic approach to disaster assistance, ensuring that producers not just make it through a single growing season but have the financial stability to invest in the long-term well-being of their operations and employees. 

In general, ERP Phase Two payments are based on the difference in allowable gross revenue between a benchmark year, representing a typical year of revenue for the producer and the disaster year – designed to target the remaining needs of producers impacted by qualifying natural disasters and avoid duplicative payments. ERP Phase Two revenue loss is based on tax years.    

For PARP, an agricultural producer must have been in the business of farming during at least part of the 2020 calendar year and had a decrease in revenue for the 2020 calendar year, as compared to a typical year. PARP revenue loss is based on calendar years. 

How to Apply 

In preparation for enrollment, producers should gather supporting documentation including:   

  • Schedule F (Form 1040); and  
  • Profit or Loss from Farming or similar tax documents for tax years 2018, 2019, 2020, 2021 and 2022 for ERP and for calendar years 2018, 2019 and 2020 for PARP.    

Producers should also have, or be prepared to have, the following forms on file for both ERP and PARP program participation:   

  • Form AD-2047, Customer Data Worksheet (as applicable to the program participant);   
  • Form CCC-902, Farm Operating Plan for an individual or legal entity;  
  • Form CCC-901, Member Information for Legal Entities (if applicable); and   
  • Form AD-1026 Highly Erodible Land Conservation (HELC) and Wetland Conservation (WC) Certification.   
  • Form CCC-860, Socially Disadvantaged, Limited Resource, Beginning and Veteran Farmer or Rancher Certification, as certain existing permanent and ad-hoc disaster programs provide increased benefits or reduced fees and premiums. 
Most producers, especially those who have previously participated in FSA programs, will likely have these required forms on file. However, those who are uncertain or want to confirm should contact FSA at their local USDA Service Center.   


Save the Date: 2023 SDBA Ag Conference 

Mark your calendars for the 2023 SDBA Ag Credit Conference! It will be held July 19-20 at the Ramkota Hotel & Convention Center in Pierre, S.D. More information will be available in the near future at this link: 2023 SDBA Ag Bankers Conference


CISA Offers Free Vulnerability Scanning Service

CISA provides a Vulnerability Scanning Service at no cost. This service scans your external/Internet-facing network every week using an industry-standard tool and sends you a report of software vulnerabilities. The cyber threat actors scan external networks repeatedly – why not get a head start on identifying your vulnerabilities and then remediate them ahead of the attacks? If you’re not signed up, all it takes is sending an email to [email protected] asking to subscribe to CISA's Vulnerability Scanning service. Provide your name, title and organization. You’ll receive some easy documents to complete and the service will start up within a couple of weeks.  


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: If we cancel a customer's debit card do we have to notify them? 

A: Per Reg E commentary the cancellation of an access device is a change that does not require disclosure. https://www.consumerfinance.gov/rules-policy/regulations/1005/interp-8/#8-a-Interp-2
The only prohibition/requirement would come from the account agreement so you'll have to confirm with the agreement before proceeding.

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 [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.