SDBA eNews

April 27, 2023

Emerging Leaders Power Hour (and a half) to be Held May 4

The South Dakota Bankers Association is excited to host Billie Sutton, Investment Executive and Human Resources Manager, First Fidelity Bank in Burke, as he recharges our leadership goals and initiatives during an afternoon power hour (and a half)! Registration is required to help us manage our Zoom numbers; however, there is no cost to attend. Here are the details:

Date: Thursday, May 4, 2023
Time: 3:30-5:00 p.m. CT | 2:30-4:00 p.m. MT
Fee: Free and open to all bankers! (Registration is required, however.)
Platform: Zoom - Link will be sent out 24 hours prior to event.

While aimed at developing the emerging leaders in the banking industry, this program is open to all bankers. Click here to register!


Partner with the SDBA/NDBA to Sponsor, Advertise, and/or Exhibit at the 2023 Annual Convention: 'Where to Next?'

 The South Dakota Bankers Association (SDBA), in partnership with the North Dakota Bankers Association (NDBA), will again host our joint Annual Convention in Sioux Falls, SD, June 4-6, 2023, at the Sioux Falls Convention Center. We can’t wait to explore WHERE TO NEXT? and be reunited with our friends and partners from across South Dakota and North Dakota, alike! 

Click here to access the Business Partner Information: SDBA/NDBA Sponsor-Advertise-Exhibitor Guide for the 2023 Annual Convention. This event wouldn’t be possible without the help of our partners, and we want to thank you for considering supporting our event. As additional public information becomes available, it will be posted to this site: https://www.sdba.com/convention.

In the guide, there are opportunities to sponsor, advertise, and exhibit at the 2023 SDBA/NDBA Annual Convention: Where to Next? Please utilize the following contact information for any questions or details you may require: [email protected] or 605.224.1653. 


SDBA Offering Scholarships to South Dakota Students Through Member Banks

In support of the South Dakota Bankers Foundation's re-defined mission statement "Developing South Dakota Banking Industry Professionals," the scholarship programming offered through the Foundation has been redesigned. The Foundation has created a scholarship opportunity that will more directly help to build and sustain South Dakota’s banking workforce. 

Scholarship Request Form

The parameters of this new opportunity are:

1. Scholarships:

  • Banks must select a South Dakota college sophomore, junior, senior or grad student or second year South Dakota technical college student seeking employment in a banking/financial services organization. If you need help in finding a student to award a scholarship to, please contact the SDBA at [email protected]
  • Once student(s) is/are selected, the bank will notify the Foundation of the recipient’s name and school. The Foundation will cut the check to the appropriate educational institution on behalf of the selected student(s). The scholarship request form can be found here.
  • Students can be pursuing areas such as finance, business, IT, HR, marketing, etc. as long as their intent is to pursue a career in the banking industry.
  • Organizational interns are eligible to receive a scholarship.
  • If a bank chooses to award a scholarship to a bank employee or child of an employee, this must first be approved by the Foundation Board.

2. Scholarship recipients will be required to sign a release form allowing the Foundation to use their name/likeness.
3. The $4,000 may be split and awarded to multiple students.
4. No match is required.
5. If total applications exceed available funds, awards will be prorated to service as many member banks as possible.

For more information on South Dakota Bankers Foundation scholarships, contact Foundation Executive Director Halley Lee.


Submit Names by May 12 to Recognize Bankers for Years of Service at Annual Convention

40 and 50-Year Banker Awards

The SDBA will honor and recognize those bankers with 40 or 50 years of service in banking during its Annual Business Meeting at the 2023 Annual Convention in Sioux Falls, SD. Years of service awards can also be awarded at the bank. Service awards that will be awarded at the bank can be ordered at any time. To request an award for someone who has been in banking for 40 or 50 years, please complete the form. The deadline to submit an award to be presented at the 2023 Annual Convention is May 12, 2023. 

Convention Memorial Service

Bankers who have passed away since the last Annual Convention (June 2022) will be remembered during the SDBA's Annual Business Meeting at the Annual Convention in Sioux Falls, SD. The deadline to submit a name for the memorial service is also May 12, 2023.

Questions, contact the SDBA Office at 800.726.7322 or 605.224.1653.


North and South Dakota Bankers Roundtable: Supporting Native American Homeownership to be Held on May 4

North and South Dakota Bankers Roundtable: Supporting Native American Homeownership will be held on May 4, 2023, from 10:00 a.m. to 11:30 a.m. CT. This event, co-hosted by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), will highlight how financial institutions in North and South Dakota can leverage federally administered loan guarantees and programs through the government sponsored enterprises (GSE's) to increase Native American homeownership. 

Experts from the U.S. Department of Housing and Urban Development (HUD), the United States Department of Agriculture (USDA) and Fannie Mae will discuss their programs and how financial institutions can become lenders or provide referrals.  


Free Webinar: Resources to Protect Your Older Customers

In observance of Older Americans Month in May and World Elder Abuse Awareness Day on June 15, ABA and the ABA Foundation are offering several resources to help you connect with — and support — the older people in your communities. Whether you’re interested in federal advisories, banker training, consumer outreach materials or helpful guides, it’s all covered. During this free webinar access everything you need to protect your bank’s older customers and learn about strategies that your peers are successfully implementing at their banks.

Date and Time

May 9, 2023 | 1 - 2 PM CT

Featured Speakers:

  • Jennell Huff, Bank of the Rockies, Relationship Executive Community Outreach Coordinator
  • Leigh Singleton, MidFirst Bank, Director of Financial Education
  • Leslie Callaway, ABA, Senior Director, Compliance Outreach & Development.
  • Eric Hensley, ABA, Senior Director, Compliance eLearning
  • Samuel Kunjukunju, Vice President, Consumer Education, ABA Foundation (moderator)

Register here.


CISA News: Android Malware

Android malware infiltrates 60 Google Play apps with 100M installs. Read the article here


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: Is it permissible to apply a new account hold to a U.S. Treasury Check? 

A: A U.S. Treasury Check is a next day item per Reg CC § 229.10(c)(1)(i) but the holds and exceptions work the same way with a Treasury Check just as they would for any other check, so a new account hold can be placed here. For treasury checks, the first $5,525 much be made available by the next business day and the rest no later than the 9th business day.

See our funds availability guide here: https://compliancealliance.com/find-a-tool/tool/reg-cc-funds-availability-reference-guide/ 

Reference:

(a) New accounts. For purposes of this paragraph, checks subject to §229.10(c)(1)(v) include traveler's checks.

(1) A deposit in a new account—

(i) Is subject to the requirements of §229.10 (a) and (b) to make funds from deposits by cash and electronic payments available for withdrawal on the business day following the banking day of deposit or receipt;

(ii) Is subject to the requirements of §229.10(c)(1) (i) through (v) and §229.10(c)(2) only with respect to the first $5,525 of funds deposited on any one banking day; but the amount of the deposit in excess of $5,525 shall be available for withdrawal not later than the ninth business day following the banking day on which funds are deposited; and

(iii) Is not subject to the availability requirements of §§229.10(c)(1)(vi) and (vii) and 229.12.

(2) An account is considered a new account during the first 30 calendar days after the account is established. An account is not considered a new account if each customer on the account has had, within 30 calendar days before the account is established, another account at the depositary bank for at least 30 calendar days.

https://www.ecfr.gov/cgi-bin/text-idx?SID=462f2fffc8fa577d9071436b72a40d1b&mc=true&node=se12.3.229_113&rgn=div8

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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