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News
SDBA EventsOnline EducationCompliance AllianceABA Banking Journal: Congressional resolution would overturn CFPB medical debt ruleMarch 12, 2025
Sen. Mike Rounds (R-S.D.) today introduced a resolution to overturn a Consumer Financial Protection Bureau rule removing medical debt and medical bills from credit reports. The rule also prohibits lenders from considering medical information when making lending decisions. The rule was finalized during the final weeks of the Biden administration. The American Bankers Association and other groups raised numerous concerns about the rule when it was first proposed, saying it would increase credit risk and reduce credit availability for consumers. The Congressional Review Act resolution would overturn the rule if passed by Congress and signed by President Trump. “The CFPB going beyond their statutory authority to eliminate all medical debt from credit reports is irresponsible and a clear example of regulatory overreach,” Rounds said in a statement. “This rule gives credit card companies a less clear credit picture of who they’re lending money to, which could lead to banks limiting access to capital for consumers. In addition, this rule goes beyond the CFPB’s rulemaking authority by banning practices that were expressly permitted by Congress in the Fair Credit Reporting Act.” Back to TopABA Banking Journal: ABA banker testifies on importance of Farm Bill, ACRE Act to ag economyMarch 11, 2025 
As the agricultural economy continues to face turmoil, passage of the 2025 Farm Bill and the proposed Access to Credit for our Rural Economy, or ACRE, Act would provide much-needed assistance to farmers, ranchers and rural communities, Caleb Hopkins, chairman of the American Bankers Association’s Agricultural and Rural Bankers Committee, told senators today. Hopkins is loan production officer for Dakota Mac, a subsidiary of First Dakota National Bank in Yankton, South Dakota. He testified before the Senate Agriculture Committee for the most recent in a series of hearings on the U.S. agricultural economy. In prepared remarks, Hopkins noted that banks remain a primary source of credit to farmers and ranchers, with 82% of all banks nationwide reporting agricultural loans on their books at the end of 2024, with a total outstanding portfolio of more than $204 billion. “Bankers continue to monitor the agricultural economy, and we are very cognizant of how economic headwinds affect our customers,” Hopkins said. “Congress has several tools to help the farm economy — starting with the passage of a strong Farm Bill. Additionally, outside this committee’s jurisdiction, bankers believe the Access to Credit for our Rural Economy Act of 2025 is a solution that will provide another form of economic relief for farmers, ranchers and rural homeowners by lowering the cost of credit for these customers.” However, Hopkins said the Farm Bill needs policy changes to increase credit availability for rural America. The most significant change bankers would like to see is an increase in the Farm Service Agency’s Guaranteed Farm Ownership Loan Program to $3.5 million and the FSA Guaranteed Farm Operating Loan Program to $3 million. “As the cost of agriculture continues to increase, it is vital to have the FSA loan programs keep pace with modern agriculture,” he said. At the same time, the ACRE Act would remove the taxation on income earned from interest on new agricultural real estate loans and new loans for rural residences in a population area of less than 2,500 people with a mortgage value of less than $750,000. “By removing this taxation, banks will be able to lower their interest rates, which helps to lower costs for borrowers,” Hopkins said. Back to TopABA Banking Journal: ABA outlines three principles to guide stablecoin regulationMarch 11, 2025
In comments to lawmakers, the American Bankers Association today offered three principles to guide the establishment of a regulatory framework for payment stablecoins. The House Financial Services Committee today held a hearing on creating a regulatory framework for stablecoins and the consequences of a U.S. central bank digital currency, or CBDC. In a statement to the committee, ABA said it supports several provisions in proposed legislation to create that framework, including language codifying the repeal of a Securities and Exchange Commission staff bulletin on how banks were expected to account for digital assets held in custody. ABA also reiterated its opposition to the creation of a U.S. central bank digital currency and its view that nonbanks engaged in the same activities as banks should be regulated the same. ABA said it has identified three principles to guide a framework on payment stablecoins. The first is that regulations should avoid a negative economic impact. “It is imperative that the regulatory framework for payment stablecoin not interrupt the flywheel for credit creation by incentivizing value be held in the form of payment stablecoin rather than bank deposits, the association said. The second is that regulation should control for known risks. In the case of illicit finance, that means the regulatory framework must apply the Bank Secrecy Act to all entities engaged in the transmission of value that substitutes for currency, such as payment stablecoins. The third is that regulation should also be prepared for unknown risks. “With those unknowns in mind, the regulatory framework for payment stablecoin must not preemptively limit the ability of regulators to establish appropriate rules and supervise market participants,” ABA said. CISA News: FBI InfraGardA brief two-minute video on the value of InfraGard. Cybersecurity is a shared responsibility amongst all of us. We have an active chapter here in SD that meets quarterly. Learn more at the 30-minute webinar on April 2. Back to Top ACRE Act: What is it and why is it important?
The Access to Credit for our Rural Economy Act, also known as ACRE, will help sustain and grow rural America by making it easier for farmers, ranchers, and rural homeowners to access low-cost credit. ACRE will lower the cost of making a loan backed by agricultural real estate, enhance competition between lenders for agricultural and rural housing loans, and help expand access to low-cost credit in rural America. This ABA toolkit provides resources that bankers and state associations can use to help lawmakers understand the value and benefits of the ACRE Act. Be on the lookout for ACRE news from the SDBA! Our campaign will push posts to Facebook, Instagram, and X, as well as your email inboxes on a regular basis. Please "like" and reshare to help us reach a broader audience as we get the word out on the importance of ACRE. Follow SDBAFacebook: @sdbankers |
The Graduate School of Banking in Madison, Wisconsin is offering The Andy Trovillion Scholarship for Military Service. Raleigh A. “Andy” Trovillion, former GSB faculty member and Association of Military Banks of America (AMBA) board chairman, passed away in 2019 after a distinguished career in banking. This scholarship, which is funded by the AMBA, honors Andy’s passions for and contributions to military banking and banking education. Bankers eligible for this scholarship must be serving or have served honorably as an active duty, Reserve, or National Guard member of one of the Armed Services of the United States. Bankers who are military spouses or spouses of veterans are also eligible to apply.
Fraud Academy is a pioneering initiative designed to arm bankers with the skills needed to detect and combat fraud. Our unique program features insights from experts across the DEA, FBI, the Secret Service, law enforcement, AARP, and the financial industry, offering a robust education in fraud prevention from those who know it best.
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.