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Online EducationCompliance AllianceABA Banking Journal: Trump confirms goal to shutter CFPBFebruary 11, 2025 
President Trump confirmed today that he plans to close down the Consumer Financial Protection Bureau, which he said “was set up to destroy some very good people.” CFPB staff were ordered to cease all activities and stay home as their bureau’s offices in Washington, D.C., would be closed this week. During a White House press conference, Trump said the CFPB was “very important to get rid of.” “It was also a waste,” he said. “There was a bad group of people running it … That was a vicious group of people. They destroyed a lot of people.” The CFPB is unique among federal agencies in that its funding comes directly from the Federal Reserve based on a request from the bureau’s director. Acting Director Russ Vought, who is also director of the Office of Management and Budget, said he will not ask the Fed for the CFPB’s next appropriation. He called the bureau “a woke and weaponized agency against disfavored industries and individuals for a long time.” The CFPB was established by Congress following the 2008 financial crisis and it was not immediately clear whether the president has the legal authority to eliminate the bureau without congressional action. Back to TopABA Banking Journal: Study finds most people can’t spot deepfakesFebruary 12, 2025 
A recent study of 2,000 U.S. and U.K. residents found that the vast majority of participants couldn’t distinguish between real content and deepfake images and video. In research conducted by the biometric identity verification provider iProov, only 0.1% identified all deepfake and real media presented to them, even after they were told some of the media would be fake. Roughly one in five consumers (22%) had not heard of deepfakes before the study, according to iProov. Age was a factor, with 30% of participants ages 55-64 and 39% of those ages 65 or older saying they never heard of deepfakes. Deepfake videos proved more challenging to identify than deepfake images, with participants 36% less likely to correctly identify a synthetic video compared to a synthetic image. Participants were “overly confident” in their deepfake detection skills at over 60%, regardless of whether their answers were correct. Young adults ages 18-34 were especially confident despite their inability to spot many deepfakes. Back to TopCISA News: Suspected NATO, UN, US Army hacker arrested in Spain
The attacksThe National Police began the investigation in February 2024, after a Madrid business association discovered that a hacker boasted on an underground criminal forum that they have information stolen from the association’s website.“Once the first steps were made, the agents found that he had not only extracted data, but had left the portal defaced, showing a message in which it could be read that they had hacked the system,” the National Police said.The suspect was arrested in Calpe (Alicante province) last Tuesday in his home. The agents confiscated computer equipment, whose analysis may provide more clarity in the attacks claimed by the hacker and possibly into other crimes.“Throughout 2024, the investigated actor was carrying out numerous cyberattacks, among which the attack on the National Coin and Stamp Factory, the State Public Employment Service, the Ministry of Education, Vocational Training and Sports, different Spanish universities, as well as NATO databases, the United States Army, the General Directorate of Traffic, the Generalitat Valenciana, the United Nations, the International Civil Aviation Organization, and its latest claimed attack, two databases of the Civil Guard and the Ministry of Defense,” the National Police shared.That last attack, carried out at the end of December 2024, prompted an investigation by the Central Operational Unit of the Spanish Civil Guard, and the two law eforcement agencies joined forces to unmask the attacker.The suspectThe UN ICAO hack was claimed by dark web forum user “Natohub” but, according to the National Police, the hacker used three different pseudonyms to muddy the waters.His extensive knowledge of information systems and his used of anonymous messaging and browsing apps allowed him to remain unknown for a while.Some of the data stolen from the various target organizations were leaked online by the hacker, and others were sold. The police found that the suspect had over 50 cryptocurrency accounts with different types of crypto assets.The police did not reveal his name, but local news outlet La Razon says he is an 18-year-old man.He is accused of discovery and disclosure of secrets, illegal access to computer systems, damage to computers and money laundering. Back to TopABA Banking Journal: ABA urges ‘same risk, same regulation’ for digital assetsFebruary 11, 2025
As policymakers develop a regulatory framework for digital assets, they should apply the principle of “same activity, same risk, same regulation” and ensure the resulting ecosystem operates with safeguards that appropriately mitigate financial stability and consumer protection risk, the American Bankers Association told House lawmakers. The House Financial Services Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence held a hearing today on digital asset regulation. In a statement to the subcommittee, ABA stressed the need for Congress to ensure all customers are protected equally, “regardless of where they engage with the financial marketplace, and that the U.S. financial system remains strong, safe and competitive.” At the same time, ABA pointed to recently released documents by the FDIC that show regulators discouraged banks from pursuing business in the digital asset market. “And while not every bank will choose to engage in the digital asset ecosystem, that decision should be theirs, not their regulator’s,” it said. “Banks have a critical role to play in the digital asset ecosystem, which has the potential to be a catalyst for change in traditional financial markets, with significant implications for our financial system, economy, markets and most importantly for the American consumer,” ABA said. Back to Top Quad States Convention: Noble Prize
To nominate your bank or a fellow bank for consideration, please complete this form by March 14, 2025. You will be notified of your status in April. SDSU Extension Farm Real Estate Survey
The 2025 SDSU Extension Farm Real Estate Survey is the 35th annual survey. The purpose of this survey is to obtain marker value and cash rental rate information by types of agricultural land in different regions across South Dakota. Farmers, landowners, investors, lenders, real estate professionals, and public officials are the majority users of the data provided by the survey. The survey is anticipated to take 10-15 minutes to complete. The deadline to complete the 2025 survey is March 15. If you have questions, please contact Assistant Professor of Applied Economics & Land Valuation State Ext. Specialist, Hoanh Le ([email protected]). COMPLETE THE SURVEY
GSB Human Resources Management SchoolApril 28-May 2, 2025 | Madison, WI
Details & Registration Graduate School of BankingJuly 27-August 8, 2025
Scholarship applications are DUE May 9. Learn more and apply HERE. Breaking Into Banking 101 & 201101: February 26, 2025 | 201: March 26, 2025
101 Information & Registration Breaking Into Banking 201: This 9-module online course is a “sequel” to the 101 course and is best taken after completion of that course, though it is not a prerequisite. The 201 course includes a case study and dives deeper into topics covered in modules 4, 6, and 8 of the 101 course: analyzing a borrower’s balance sheet, income statement, collateral, and risk ratings. 201 Information & Registration SDBA Spring IRA UpdateMarch 19, 2025
Back to TopOnline Education
GSB Online Seminars Banking Matters Podcast  Brien O’Conner, Bankers Insurance AgencyIn this episode of Banking Matters, host, Linsey Hugueley, speaks with Brien O’Connor, President of Bankers Insurance Agency. They discuss Brien’s journey into the insurance world and how he landed as an insurance adviser for the financial services industry. The conversation highlights the most important insurance policies for banks to carry, the importance of banks having intimate knowledge of the policy’s intricacies, and why working with an advisor that understands the complexities of insuring financial institutions is beneficial. Brien breaks down financial institution bond insurance, gives examples of how the coverage can be used, and what type of crimes and losses it can help protect against. Tune in!Learn how to put compliance management solutions from Compliance Alliance to work for your bank, by contacting (888) 353-3933 or [email protected] and ask for our Membership Team. For timely compliance updates, subscribe to Bankers Alliance’s email newsletters. Back to Top SDBA eNews Archive
Questions/Comments
Contact the SDBA at 605.224.1653 or via email |
February 6, 2025 | Zeljka Zorz
As part of the 
Ag lenders, appraisers, farm managers, assessors, realtors, and extension field specialists are invited to participate in the 2025 South Dakota State University Extension Farm Real Estate Survey. 
Key take-aways:
The school’s 
Breaking Into Banking 101: Commercial banking can be intimidating because of its complexity and the risk-oriented nature of the work. This course is a clear and thorough introduction to the key concepts, terminology, and processes involved in credit and lending. It doesn’t assume much prior knowledge of the topic, so it’s ideal for those in their first year in the industry. Learners will walk away with a clear understanding of their job and how their specific role fits into the bank’s overall profitability goals.
The IRA Update builds on your knowledge of IRA basics to address some of the more complex IRA issues your financial organization may handle. This course includes how the transitions rules work, RMDs and death distributions. We will also discuss amending documents. This is a specialty session; some previous IRA knowledge is assumed. The instructor uses real-world exercises to help participants apply information to job-related situations.
Participating in learning opportunities outside the bank can be challenging. Take advantage of the SDBA's extensive selection of webinars and on-demand training to enhance your banking expertise directly from your computer.