SDBA's IRA Basics Webinar | Thursday, December 14

If you're still new to IRAs, no problem. The SDBA is hosting an IRA Basics Webinar on Thursday, Dec. 14 via Zoom. This course is designed as a “very basic” IRA seminar as it is designed to build a solid IRA foundation. The seminar will start with the differences between a Traditional and a Roth IRA, and then discuss how to set up a new IRA and the eligibility rules to contribute to an IRA. The biggest topic for people new to IRAs to discuss is the moving of money from one financial institution to another.

Click here to review the full agenda and register.

Virtual Understanding Bank Performance | January 10-February 1

Are you interested in gaining a deeper understanding of your bank's financial performance? Do you want to improve your decision-making abilities and learn more about the key drivers of your bank's success? If so, we invite you to attend the Virtual Understanding Bank Performance Program (UBP), which will take place in conjunction with the Washington Bankers Association in January.

The UBP is a comprehensive training program to help bankers better understand financial performance analysis. Throughout this program, you will learn how to analyze your bank's financial statements, understand the key drivers of performance, and make informed decisions that will drive growth and profitability.

The program is divided into eight sessions, each focusing on a different bank performance analysis aspect. The January session will cover topics such as:

• Analyzing the balance sheet, income statement, and cash flow statement
• Understanding key performance ratios and benchmarks
• Evaluating loan quality and credit risk
• Identifying areas for improvement and growth

The UBP is a valuable investment in your professional development and your bank's success. We encourage you to join us next year and take the first step towards improving your financial performance analysis skills.

This workshop is presented virtually on Wednesdays and Thursdays, January 10 through February 1. The dates are January 10, 11, 17, 18, 24, 25, 31, Feb 1, at 10 a.m. CST.

Click here to review the full curriculum and register.

2024 Midwest Economic Forecast Forum | January 11

Prepare for 2024 by joining an economic discussion with Federal Reserve Bank of Minneapolis First Vice President Ron Feldman. Time will be allowed for open Q&A during this virtual event. Bankers and community leaders are encouraged to invite their business clients to virtually share these economic insights. Individuals or group registration rates are available.

Presented on Thursday, January 11, 11:00 a.m. - 12:00 p.m. CST (10-11:00 a.m. MST), by the Wisconsin Bankers Association, in partnership with the Illinois Bankers Association, Michigan Bankers Association, Minnesota Bankers Association, and the Wisconsin Bankers Foundation. Don't miss this unique economic forecast for 2024!

Click here to review the agenda and register.

ABA Check Fraud Claim Directory

ABA created the Check Fraud Claim Directory to help banks of all sizes resolve check fraud claims as efficiently as possible. Learn how your bank can participate below.

ABA Check Fraud Claim Directory

The directory provides contact information for banks needing to file a check warranty breach claim with another financial institution. The directory is searchable by bank name, city, state or FDIC number so banks can easily find a person or email address at the bank to help resolve a warranty breach claim. A PDF with detailed information is available for those banks that provided documentation requirements for filing a claim. To access the directory, your bank must participate by providing its fraud contacts. The more banks that participate in the directory, the more helpful it will be to the industry.

Submit Bank Claim Information

ABA member and non-member banks are invited to participate in the ABA Check Fraud Claim Directory by submitting the appropriate check fraud claim contacts for their institution. Please provide contact information that will not be affected by personnel changes within the bank. ABA will verify all submissions before uploading them to the directory. We expect this process to take 5-10 business days but in rare instances there may be a longer delay. We will email you once your information is verified and your bank has been added to the directory.

ABA member and non-member banks are encouraged to join this industry-wide effort to more efficiently resolve check warranty breach claims. Join the ABA Check Fraud Directory here.

Call for Bank Compliance Leader Award Nominations!

Don't miss out on this fantastic opportunity to recognize an individual who has had a positive impact not only as a compliance leader within the bank, but also on the community and industry as a whole. Make a nomination today!

Recipients will receive:
These winners will receive a plaque and a pin symbolizing the B/A Bank Compliance Leader Award, to be presented at the 2024 American Bankers Association Regulatory Compliance Conference in Seattle, WA, from June 11th to 14th, 2024.

Nomination Requirements (include, but are not limited to):

Nominee must have at least (5) years of experience in banking compliance.
Nominee should not hold the position of Bank President, CEO, or Board Director.

Nominations must be submitted or signed by the bank's president, CEO, board director, member of senior management, their State Bankers Association, or a compliance officer.

Submit a nomination. DEADLINE FOR SUBMISSIONS IS FEBRUARY 29, 2024.

Discover ABA’s Retail Banking Certificates

Personal Banker Certificate

Member Price: $795
Develop essential skills for providing full-service banking. Build broad product knowledge and an understanding of the different types of retail deposit and loan products. Gain insight into how to offer the appropriate credit, deposit, and other banking services to meet customer needs and expectations. Learn best practices for cultivating customer relationships.

Member Link: https://content.aba.com/Search/Default.aspx?Member=m&Query=ABA%20Personal%20Banker%20Certificate&TP=sdba

Included Courses:
• Banking Basics Suite (12 courses)
• Communication Basics Suite (3 courses)
• Effective Referrals Suite (2 courses + 1 exercise)
• Ethical Issues for Bankers
• Fundamentals of Consumer Lending Suite (2 courses)
• Fundamentals of Small Business Banking Suite (2 courses)
• Introduction to Analyzing Financial Statements
• Making the Client Call Suite (3 courses + 1 exercise)
• Managing Time at Work
• Online Communication Suite (2 courses)
• Overcoming Objections Suite (3 courses + 1 exercise)
• Relationship Sales Suite (2 courses + 1 exercise)
• Sales Planning Suite (3 courses + 1 exercise)
• Understanding Business Bank Products Suite (4 courses)
• Understanding Consumer Bank Products Suite (8 courses)
• Verbal Communication Suite (3 courses)
• Written Communication Suite (3 courses)

Professional Certifications: 1.5 CAFP, CRCM; 1.25 CFMP, CSOP; 1 CCTS, CISP, CRSP, CTFA

The estimated time to complete these 55 courses and exercises is approximately 13.5 hours. Students have access to the curriculum for 1 year from date of purchase.

Universal Banker Certificate

Member Price: $795
Develop the key skills for catering to a new customer mindset. Explore multiple ways to fulfill customers’ sales, service, and referral needs as their single point-of-contact. Master cash handling and basic transactional skills. Perfect product and service sales skills. Discover ways to build relationships and create referrals to other lines of business.

Member Link: https://content.aba.com/Search/Default.aspx?Member=m&Query=ABA%20Universal%20Banker%20Certificate&TP=sdba

Included Courses:
• Banking Basics Suite (12 courses)
• Communication Basics Suite (3 courses)
• Dealing Effectively with Co-workers
• Effective Meetings
• Ethical Issues for Bankers
• Managing Change
• Online Communication Suite (2 courses)
• Overcoming Objections Suite (3 courses + 1 exercise)
• Presentation Skills Suite (4 courses)
• Relationship Sales Suite (2 courses + 1 exercise)
• Verbal Communication Suite (3 courses)
• Why Quality Customer Service Matters Suite (5 courses + 1 exercise)
• Written Communication Suite (3 courses)

Professional Certifications: 1.5 CAFP, CRCM; 1.25 CFMP, CSOP; 1 CCTS, CISP, CRSP, CTFA

The estimated time to complete these 44 courses and exercises is approximately 9.5 hours. Students have access to the curriculum for 1 year from date of purchase

CISA News: Holiday Scams

‘Tis the season for the thieves to initiate gift card & toy scams – and anything else they can think of to steal. BBB Scam Alert: Looking for this season’s hot toy? Beware of scams

QUESTION OF THE WEEK

Q. If we have a customer with a credit card which is currently delinquent according to the agreement, are we required to provide an Adverse Action Notice before closing it out due to charge off?

A. Subject to any language within the loan agreement providing otherwise, the definition of "adverse action" within Regulation B provides a specific exemption for accountholders that are currently delinquent at the time an action is taken, as you can see below. Therefore, an adverse action notice is not necessary when closing an account due to a current delinquency.

"(2) The term does not include:

(ii) Any action or forbearance relating to an account taken in connection with inactivity, default, or delinquency as to that account;

....

2. Current delinquency or default. The term adverse action does not include a creditor's termination of an account when the accountholder is currently in default or delinquent on that account. Notification in accordance with § 1002.9 of the regulation generally is required, however, if the creditor's action is based on a past delinquency or default on the account."

https://www.consumerfinance.gov/rules-policy/regulations/1002/2/#7ae2562961d72df6ca35db9818a90553ee87215eec5e8e9b1b9521e1

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.

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