ICBSD Participates in NSU Business Week Activities
Thursday, April 21st, ICBSD President & CEO, Greg D. McCurry, ICBSD Chairman, R. Scott Campbell, ICBA Federal Delegate, Emily Hofer, and Past ICBSD Chairman, David Johnson, and community bankers from BankWest, Plains Commerce Bank and Dacotah Bank, and Roberts County National Bank participated in the Northern State University Business Round Table Event.
Students from the NSU Business Department had the opportunity to speak with representatives from a variety of businesses including community banks. They were provided with an overview of the community banking industry in South Dakota.
 All students were asked to fill out an information card, which will be shared with member banks. Our goal is to connect students from the NSU Business Program with community banks from the students' home towns.
Friday, April 22nd, the ICBSD provided a table for community bankers to attend a breakfast and presentation by Dr. David Kohl. Thank you to all of the community bankers who attended and supported the NSU Business Week activities. |
ICBSD travels to D.C. Next Week
As the ICBSD prepares to travel to Washington D.C., we want to share our legislative priorities for 2016.
PLAN FOR PROSPERITY:
CAPITAL ACCESS AND REGULATORY RELIEF
Plan for Prosperity is a set of legislative recommendations designed to provide relief from overly-prescriptive rules that prevent community banks from serving their customers and to create new capital options so community banks can increase lending to support economic growth.
A number of bills have been introduced in Congress that include specific Plan for Prosperity provisions. Community bankers' highest legislative priorities in the 114th Congress include:
The CLEAR Relief Act (S. 812 and H.R. 1233), the CLEAR Relief Plus Act (S. 927), the Community Bank Access to Capital Act (S. 1816 and H.R. 1523), the Consumer Financial Protection Bureau Examination and Reporting Threshold Act (S. 482 and H.R. 4099), and the community bank regulatory relief provisions of the Financial Regulatory Improvement Act (S. 1484).
OUR MESSAGE
- Please cosponsor Plan for Prosperity bills.
- Congress should help ensure that regulation is tiered and proportionate to the smaller size, lower risk profile, and traditional business model of community banks to support the flow of credit to consumers and small businesses.
DATA SECURITY
Recent wide-scale retailer data breaches resulted in community banks reissuing more than 11.5 million debit and credit cards at a cost of more than $130 million. Community banks absorb these costs, even though the breaches occurred at retailers, because their primary concern is to protect their customers.
Data protection is a shared responsibility of all stakeholders. The payments chain is only as strong as the weakest link.
Meaningful consumer protection can only be accomplished by holding all parties to the same data security AND data breach notification requirements.
OUR MESSAGE
- GLBA-like standards for all: All participants in the payments system, including retailers, should be subject to rigorous data security standards similar to those of the Gramm Leach Bliley Act (GLBA), which already apply to financial institutions.
- National breach notification standards: A national data security breach and notification standard should replace the current patchwork of state laws.
- Stronger incentives needed: In addition to the provisions of the Data Security Act, ICBSD supports legislation that would hold the breached party responsible for all costs associated with the breach.
- Support S.961 and H.R. 2205, which would create national data security and data breach notification standards for all payments system participants, including retailers, to ensure a secure, end-to-end payments system for consumers and businesses.
CREDIT UNIONS AND FARM CREDIT SYSTEM LENDERS
Mission Creep Must Be Kept in Check: Credit unions are seeking new powers including expanded commercial lending authority, the ability to raise supplemental capital, and expanded fields of membership. FCS lenders have obtained regulatory guidance that allows them to make non-farm, commercial, community, and infrastructure loans.
OUR MESSAGE
- Congress should not consider expanded powers for credit unions and should halt FCS non-farm lending attempts such as FCA's unauthorized "investments"guidance. New powers are at odds with their tax-advantaged status.
Crop insurance is a critical risk management tool. Farmers, ranchers and lenders across rural America rely on a healthy crop insurance program to protect crops and repay loans.
Crop insurance is a successful public-private partnership that has eliminated reliance on ad hoc disaster relief which is provided wholly at taxpayer expense.
OUR MESSAGE
- Further cuts or adverse changes to the crop insurance program would discourage farmer and rancher participation, undermine private sector delivery, and jeopardize a successful program that is critical to the prosperity of rural America.
- Oppose further cuts or adverse changes to the crop insurance program.
|
Corporate Account Takeovers: Are  You Protected?
As cyber criminals become more and more sophisticated, gone are the days of traditional security protecting your organization from cyber attacks. Cyber criminals are targeting your corporate banking customers' computer system. Your customers often look to you for answers as to protect themselves from a computer network breach. AmTrust recently released their new EFT Guard policy that is designed to protect your online business banking customers from fraud resulting from a corporate account takeover.
This coverage will help your bank educate your customers about the need to secure their own systems along with the importance of following the agreed upon security measures. Having this coverage in place will ultimately prevent disputes and perhaps costly litigation between the bank and your customer by providing coverage to reimburse the customer for the loss.
This new product protects the bank's business banking customers for losses originating from corporate account takeover, including fraudulent ACH and wire transfers perpetrated through the customer's system and outside of the care, custody and control of the financial institution.
|
ICBSD members can take advantage of the following price breaks!
|
| Exclusive Offers |
Coupon Code |
| Save 35% off OptiPlex/Latitude |
SAVE35% |
| Save an extra 10% off select XPS & Inspiron PCs |
SAVE10%PC |
| Save 40% off select PowerEdge Servers $1,299 & up |
SAVE40%SERVERS |
| Save 40% off Dell Precision Workstations |
SAVE40%WKS |
| Save an extra 5% off select Dell electronics & accessories |
STACK5% |
More Information: Place your order through the ICBA/Dell page to receive these discounts!
|
|
Heartland State Bank Celebrates Community Banking Month
Friday, April 15th, the staff of Heartland State Bank in Redfield celebrated Community Banking Month with customers.
Scott and Paul Domke were busy preparing brats, and other staff prepared deserts to share. Thanks for allowing the ICBSD to stop by and enjoy lunch!
View this link to see ideas on how your bank can celebrate Community Banking Month!
|
How the Capital Conservation Buffer Affects Community Banks
As bankers across the country continu
e to have questions about last year's regulatory capitol changes u
nder Basel III
, the M
arch 31, 2016, call reports marks the start of an additional requirement, the capital conservation buffer.
The buffer, which phases in over the next four years, could limit the payment of dividends and discretionary bonuses to officers if a bank fails to maintain required capital levels (with a possible
exception for S corporation banks
paying tax distributions in certain circumstances). Though many banks retain capital levels far in excess of the buffer requirements, it is critical that community banks understand and incorporate these requirements as part of their capital and strategic plans.
|
Davenport Evans Banking Seminar
Please join Davenport Evans Lawyers for the 2016 D
avenport Evans Banking Seminar, April 22, at the spacious new eve
nt center at The Country Club of
Sioux Falls.
- Welcome - Charles D. Gullickson, Davenport Evans
- Communication with Customers: How to Stay in Touch and in Compliance - Dixie K. Hieb and Tiffany M. Miller, Davenport Evans
- Preparing for, and Dealing with, the Death of Your Customer - Sarah Richardson Larson and Mark R. Krogstad, Davenport Evans
- Break/Networking
- Trends in Banking from the FDIC - James LaPierre, Regional Director, FDIC
- Setting the Stage for Successful Dispute Resolution - Vince M. Roche, Davenport Evans
- 2016 Legislative Update - Curt Everson, President, South Dakota Bankers Association, and Keith A. Gauer, Davenport Evans
- Lunch and Introduction of Speaker - Douglas J. Hajek, Davenport Evans
- Keynote Address - Joseph M. Santos, Ph.D., Dykhouse Scholar in Money, Banking, and Regulation, and Professor of Economics at South Dakota State University
Friday, April 22, 2016
7:45 a.m. Breakfast and Registration
8:30 a.m. - 1 p.m. Seminar
The Country Club of Sioux Falls
(Formerly Westward Ho Country Club)
3400 West 22nd Street, Sioux Falls
|
NIST Cybersecurity seminar is a big opportunity
for businesses
Hosted by SDN Communications, South Dakota Telecomuntaions Assocations and Dakota State
Some industries used to shoulder more risk than others as potential victims of cyberattacks. That's no longer the case. Because of the linked nature of commercial enterprises today, nearly all businesses and organizations must be aware of cyber threats and protect themselves.
"There used to be industries that could kind of ignore it. If you look at the attacks now, they're hitting virtually every industry." says John Pauli, who teacher cyber security courses at
Dakota State University.
"We're all interconnected now."
|
Complimentary Webinar: Defending Your Institution from Spear Phishing Attacks
As cyber criminals become more and more sophisticated, gone are the days of traditional security protecting your organization from cyber attacks.
This webinar will discuss a three-pronged strategy to defend your financial institution from spear phishing attacks, including malicious emails, pre-text phone calls, or hacked websites with malicious software. It will also provide advice on the appropriate steps to take if you become a victim of phishing.
Thursday, April 21st
2 - 3 PM Central Time
To register, click here by April 20th.
|
South Dakota
Golf Classic
Start the morning off with breakfast and a host of educational speakers at Callaway's Event Center, next door to Prairie Green. After the morning sessions, attendees will be treated to lunch and an 18 hole golf scramble. Following the scramble, there will be hors d' oeuvres, refreshments, and prizes awarded back at Callaway's.
The cost to attend this fun and educational outing is only
$35
per person!
View Agenda and Featured Speakers
|
| Community Bankers Webinar Network Courses |
Printable 2016 Webinar Schedule
April 20 - HR Series: Managing Absenteeism & Leaves of Absence
April 21 - Effective Management of Credit Report Disputes
April 26 - Call Report Series: Examining Bank Assets, Liabilities & Income in Call Report Preparation
April 27 - Examining Complex TRID Issues, Part 1: Application Through Loan Estimate & Revised Loan Estimate
April 28 - Regulator Expectations for Risk Assessment: Policies, Procedures & Steps in Obtaining Board Approval
May 3 - Loan Participation Due Diligence: Practices, Documentation, Servicing & Risks
May 5 - Conducting the Annual Physical Security Review
May 10 - Quarterly Emerging Leader Series: Effective Branch Administration Monitoring
May 11 - Fee Income Strategies 2016: Challenges, Issues & a Look Ahead
May 12 - Regulator Issues for the Credit Analyst
May 13 - Line-by-Line Review of New Bankruptcy Forms, Including Major Changes Effective December 2015
May 17 - Director Series: Strategies for Remaining Independent: Alternatives to Selling
May 18 - Managing the Force-Placed Insurance Process
May 19 - Wire Transfer Compliance, Including International Remittances
May 20 - Examining Complex TRID Issues, Part 2: Closing Disclosure, Tolerances & the Good Faith Analysis
|
| SBS Institute Certifications |
|
|
|
On CECL, Time for Everyone to Just Take a
Deep Breath
|
The debate over the Financial Accounting Standards Board's new loan-loss reserve model has been dominated by this question: How burdensome will the new standard, known as the Current Expected Credit Loss model, be on community banks?
|
|
|
|
|
Fintech Revolution Will Augment the Reality of
Modern-Day Banking
|
There are some who believe the disruptive forces of fintech threaten the banking world. The reality is fintech could help banks reinvent themselves, writes John Kennedy.
|
|
|
|
|
Goldman Settlement Shows Some Banks Still Too
Big to Punish
|
With the Department of Justice announcing its latest multibillion-dollar settlement with a too-big-to-fail bank, the question we all must be asking is: "Does this mean that real accountability has finally come to Wall Street?"
|
|
|
|
|
Central Banks May Do More Harm than Good, Says
Head of India's Central Bank
|
|
Raghuram Rajan, Governor of the Reserve Bank of India, has been leery of the unconventional monetary policy tools used by central banks since the financial crisis.
|
|
|
|
|
A Look Back at #BankSocial
|
|
One of the many unique aspects of the banking/social media equation is that it's always evolving.
|
|
|
|
|
Testing Times: Solving the Cost Conundrum in a Disrupted Market
|
Doing more with less is an important goal for any business. In the world of banking, an increasingly complex market is driving firms to uncover new ways to deliver cost efficiency.
|
|
|
|
|
New Hybrid Banking Trojan 'GozNym' Steals Millions
|
A cybercrime gang has been using new malware target business customers of banks in the United States and Canada.
|
|
|
|
Does the Federal Reserve Ever Get Audited?
The financial statements of the Board of Governors and the 12 Reserve Banks are audited annually by public accounting firms. Learn more here.
|
|
Register Now for the Washington Policy Conference
|
2016 Series - 6 for the price of 5
|
What's happening at your bank? Events? Promotions? New hires? Retirements? Awards? Community projects? Charitable activities?
Contact Summer at [email protected]. If you don't have time to write an article, send a description of what happened, and we'll put it together for you. |
|
|
