SDBA's 2023 Women of Impact Nominations Close August 1

Do you know an outstanding Woman in Banking who has made a significant contribution to her organization, community and industry? If so, nominate her for the inaugural “SDBA Women of Impact Award”! These awards will be presented at the 2023 Lead Strong: Women in Banking event on September 27 in Sioux Falls, SD. To submit your nomination, click here. The nominee must be a member of the SDBA and nominations must received by August 1, 2023 to be considered. Questions? Email [email protected] or call 605.224.1653.

Last Chance to Submit Your Photos for a Chance to be Featured in the 2024 SDBA Calendar

The South Dakota Bankers Association is creating a customized calendar from photographs of South Dakota submitted by South Dakota bankers, their family members and customers. These calendars are exclusive to SDBA member banks and make a great gift for your customers!
If you are an amateur photographer and would like the opportunity to have your creativity displayed in homes and businesses across South Dakota, this is your chance! Send us 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 and beauty of the great state of South Dakota qualifies.

To submit your photos, go to www.sdba.com/scenes-of-south-dakota-calendar. Submission deadline is July 31, 2023. All photos submitted will be judged and the top photos will be featured throughout the 2024 Scenes of South Dakota calendar.

Questions, email [email protected] or contact Haley Juhnke at 605.224.1653.

2023 SDBA Digital Innovations in Today's Banking Environment Conference to be Held August 29-30

The SDBA Digital Innovations in Today’s Banking Environment Conference (formerly Technology Conference) will be held on August 29-30 at the Hilton Garden Inn Sioux Falls South in Sioux Falls.

This conference is designed to provide support as you keep on top of technology trends, navigate the business of banking, and build and sustain your bank’s technology strategy—all to improve access and better serve your customers. The Digital Innovations in Today’s Banking Environment Conference will provide you with an opportunity to learn from industry experts, network with colleagues, and visit with exhibitors to see and experience the latest in products and services.

There is an opportunity for business partners to exhibit at and sponsor the conference. For more information and to register, click here.

2023 South Dakota Land & Lending Conference Marked for August 30

Mark your calendars for the highly anticipated third annual South Dakota Land & Lending Conference, set to take place on Wednesday, August 30th at the Denny Sanford PREMIER Center. This full-day event promises to be an enlightening experience, bringing together renowned speakers from across the nation. Notably, the conference will feature FDIC's Kansas City Regional Director, James LaPierre. Additionally, attendees will have the privilege of hearing from Shane Phillips, the author of The Affordable City, providing invaluable insights into urban development and affordable housing. Finally, audience members will hear from D.J. Van Keuren a nationally recognized, distinguished, and leading professional in the field of real estate. With a diverse range of breakout sessions offering informative content, this conference guarantees a wealth of knowledge and networking opportunities. This is an event you definitely don't want to miss!

Learn more and register for the event here: 2023 South Dakota Land & Lending Conference | South Dakota State University (sdstate.edu)

ABA, Associations Call for Agencies to Strengthen Cyberincident Reporting

Federal agencies should be held to the same standards as private companies when protecting consumer data and reporting cybersecurity incidents, the American Bankers Association and two financial sector trade associations said today in response to legislation that would upgrade the federal government’s cybersecurity procedures.

In a joint statement, the associations said they supported two provisions in a proposed update of the Federal Information Security Modernization Act, or FISMA, with versions of the bill having been introduced in the House and Senate. The first provision would require federal agencies to notify private sector entities whose information has been compromised in an agency cybersecurity incident. The second would help inform financial institutions of any long-standing federal agency security shortcomings and the effects of those weaknesses by making the information accessible through an inspector general dashboard.

“FISMA will improve accountability among federal agencies and give financial institutions the critical information they need to protect their customers following a cyber threat,” the associations said.

Find the article here.

House Republicans Unveil ESG Bills Aimed at Regulators

Republicans on the House Financial Services Committee today unveiled four bills aimed at curbing what they characterized as ESG excesses among regulators, including legislation that would eliminate the position of vice chair of supervision at the Federal Reserve. The four bills combine several Republican bills on ESG, with three focused on the Securities and Exchange Commission. The fourth bill would increase congressional oversight of banking regulators and remove the vice chair of supervision designation from the Fed.

“America’s banking regulators are implementing regulations on climate change in the form of environmental, social and governance policies, but the American people and Congress are being left in the dark as to how these policies are being formulated,” said Rep. Barry Loudermilk (R-Ga.), sponsor of the banking regulator bill.

CISA News: Cyber Tips of the Week for Your Organization

1. Change Default Passwords on hardware, software & firmware.

2. Implement Multi-Factor Authentication.

3. Separate User & Privileged Accounts.

4. Create, update & test your Incident Response Plan (if you need an IRP template, let Jim Edman know).

View the full article here.

QUESTION OF THE WEEK

Q: We had a bank employee deliver cash over $10,000 to a customer per the customer's request. Do we have to include our bank employee on the CTR?

A: No, the bank employees are not considered conductors. Individuals that give or receive currency as a function of its agency relationship with a financial institution is not a transactor for the purposes of CTR requirements. See: https://www.fincen.gov/resources/statutes-regulations/guidance/currency-transaction-report-aggregation-businesses-common (footnote 4).

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.