Today Senator Rounds introduced the "TAILOR Act of 2017" to dismantle the CFPB. We applaud the Senator's efforts on behalf of South Dakota Community Banks and are doing everything possible to support him. The ICBSD continues to have regular conversations with the Senator and his staff to provide information and encourage his fight against the burdensome regulations that are draining your bank's resources.
Rounds Introduces Legislation to Dismantle CFPB
WASHINGTON -
U.S. Sen. Mike Rounds (R-S.D.), a member of the Senate Banking Committee, today announced he introduced legislation to dismantle the Consumer Financial Protection Bureau (CFPB) by eliminating its funding stream from the Federal Reserve.
"A product of the ill-advised Dodd-Frank Reform Act, the CFPB is an unaccountable regulatory agency ran by unelected bureaucrats with no oversight from Congress," said Rounds. "No unchecked federal agency should have the power to dramatically alter the financial choices of consumers through the rules it promulgates. Dismantling the CFPB is but one step we can take to ease the regulatory burdens of Dodd-Frank, the cost of which continues to be handed down to American families. I look forward to working with my colleagues to roll back the CFPB's power and prevent the agency from imposing any further harmful regulations."
Rounds' legislation amends the Consumer Financial Protection Act of 2010 to bar the transfer of funds from the Board of Governors of the Federal Reserve System to the CFPB. The bill also requires the CFPB to turn over all penalty funding and other money it has received to the Treasury of the United States. Text of the bill can be found
HERE
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| 2017 Legislative Session Notes |
Banking Related Bills (View more information provided by the SD LRC by following the links provided)
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It continues to be the position of the ICBSD that any company engaged in the practice of providing loans should be subject to the same rules, regulations and requirements as South Dakota's Community Banks, including the payment of taxes.
We continue to oppose HB1179 and firmly belive that opening the door to other businesses engaged in lending to allow them to avoid lending licenses and thus the payment of taxes will continue to erode the state's revenue from the taxes paid by community banks.
Please contact your district Representative today and let them know you opposed HB 1179.
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We are monitoring the following bills and will be attending hearings as
necessary
to make sure the community banking
voice is being heard. As your voice for community banks, please do not hesitate to contact me if you have concerns about any of the bills we are monitoring or another bill currently before the legislature.
ICBSD Lobbyist Dean Krogman
Cell: 605-695-3497
Email:
[email protected]
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Learn Portfolio and Balance Sheet Management
with Your Peers
The Balance Sheet Academy advanced seminar is designed to expose seasoned community bank portfolio and balance sheet managers to advanced products and concepts. The objective of this seminar is to enable the attendees to consistently outperform their peers.
The dynamics of a community bank balance sheet require an investment professional to be versed in a widening range of topics. Balance Sheet Academy provides discussion and practical classroom exercises to equip the attendees for these demands. Examples of these topics include in-depth mortgage analytics, detailed municipal credit evaluation, and more advanced interest rate risk management strategies.
Attendees will learn how the changing economic data impacts the bond market from the Vining Sparks Chief Economist and will also hear first-hand testimony from a fellow experienced community banker about successful balance sheet management.
Seminar Schedule
Monday, April 24 8:00 AM - 5:00 PM Balance Sheet Academy
6:00 PM - 9:00 PM Dinner at Frank Grisanti's
Tuesday, April 25 8:00 AM - 12:00 PM Balance Sheet Academy
12:00 PM Depart
Breakfast is provided in the Atrium Café for those staying at Embassy Suites. Luncheon is provided on Monday. Participants will receive a debit card for lunch on Tuesday.
Dates:
April 24-25, 2017
Location:
Embassy Suites
1022 S. Shady Grove Road
Memphis, TN 38120
901-684-1777
Room Cost: $175/night
Online Hotel Reservations
Costs/Person:
Members: $595
Nonmembers: $695
Members & Nonmembers: Save $150/session per additional registration from your bank.
CPE Credit:
Potential for up to 12 hours credit
Who should attend:
CPAs and those with an intermediate level of experience as investment officers, cashiers, controllers, and internal control professionals would benefit from Balance Sheet Academy.
Dress:
Business casual
Seminar Registration:
Register online now
Questions:
(800) 422-6442
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Commercial Lender/Business Banker
Our client, Pioneer Bank & Trust located in Rapid City, SD is seeking a highly motivated individual to join its lending team in the position of a Commercial Lender/Business Banker. The successful applicant will be responsible for developing, servicing and retaining profitable customer relationships along with deposit and cash management services as needed.
Qualifications include a bachelor's degree in accounting, finance or business. The individual must demonstrate strong communication and leadership skills and be committed to participate in and promote community activities. A minimum of 5 years of experience as a commercial lending officer is preferred.
Pioneer Bank & Trust is a locally owned, totally independent community bank that has been serving the banking needs of Western, SD since 1913 and offers a comprehensive compensation and benefits package. Pioneer Bank & Trust is proud to be an affirmative action/equal opportunity employer. EOE AA M/F/Vet/Disability
To apply, please visit -
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Community Bankers
Webinar
Network Courses
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Printable 2016 Webinar Schedule
Feb 15 - Procedural & Compliance Responsibilities of the Board Secretary
Feb 16 - Military Lending Act: Exam Procedure Changes, Post-Implementation Considerations & FAQs
Feb 17 - Part 2 - New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Violations of Law & Consumer Harm
Feb 22 - Risk Management Series: Developing an Enterprise-Wide Risk Assessment
Feb 23 - Flood Compliance in Lending Part 1: Loan Origination
Feb 24 - Everything You Need to Know About Regulation CC: Holds, Funds Availability, Compliance & More
Feb 28 - Compliance Questions & Issues in Deploying Mobile Remote Deposit Capture
Mar 1 - Using the APRWIN Calculator Effectively to Avoid & Correct Violations
Mar 2 - Imaged Documents: What to Keep, What to Destroy, What Holds Up in Court?
Mar 7 - Hot Issues in Cyber Compliance, Including Recent Changes to the IT Handbook
Mar 9 - Developing & Managing a Consumer Complaint Program - Avoiding Reputational Damage
Mar 14 - Qualifying Borrowers Using Personal Tax Returns Part 2: Schedules E & F
Mar 15 - Regulation E Series: Regulation E Requirements for Debit Card Error Resolution: Processing, Disclosure & Investigation
Mar 16 - Flood Compliance in Lending Part 2: Post Loan Closing
Mar 21 - ACH Specialist Series: ACH Rules Update 2017
Mar 22 - Account Documentation Series: Opening Deposit Accounts Online: Rules, Risks & Best Practices
Mar 23 - Securing Collateral Part 1: Form UCC-1 - Initial Filing & Perfection of Security Interests
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| SBS Institute Certifications |
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Yellen Outlook 'Irrelevant' Because Trump Will Reshape Fed, Strategist Who Called Brexit Vote Says
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With at least three vacancies expected on the Federal Reserve's Board of Governors this year, the central bank may not be exempt from a Trump-led shakeup, strategist Mark Grant told CNBC.
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The Short Path to the Edge of the Cliff for Cordray
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There's a much easier and less-legally-vulnerable method to arrange for the dethroning of King Richie of the Recess.
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Fed's Bullard Sees no Reason Interest Rates Need to Move Much At All
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No matter what you have heard about looming inflation or President Donald Trump's economic policies, interest rates can remain low, St. Louis Fed President James Bullard said.
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Mobile Commerce Making Inroads vs. Desktop
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Mobile commerce continues to increase, with more than three-quarters of consumers making a purchase using their mobile device, and more than 60 percent using their mobile phone for banking.
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Distrust of Large Institutions Makes This the Year of the Community Bank
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In the eyes of the consumer, it would be easy to assume that nearly all institutions engage in some of the unsavory practices we saw at Wells and elsewhere. As bankers, we know this is untrue.
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Community Banks Hopeful as Lawmakers Target Financial Rules
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Community banks and small businesses are optimistic about changes the Trump administration and Congress have promised to laws that tightened supervision of the banking industry after the 2008 financial crisis.
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Regulators Focus on Sales Practices: Responding to Heightened Scrutiny
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Federal and state regulatory enforcement actions and unprecedented fines for alleged fraud have left bank executive management teams and boards wondering if the same thing could be happening at their institutions.
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The right insurance coverage for your community bank.
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2016 Series - 6 for the price of 5
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Henry Morgenthau, Jr
Henry Morgenthau Jr. served as secretary of the Treasury from January 1, 1934, to July 22, 1945. Under the provisions of the original Federal Reserve Act, the Treasury Secretary was also Ex-Officio Chairman of the Federal Reserve Board. This ex-officio membership ended on February 1, 1936, as a result of the Banking Act of 1935, which changed the makeup of the Board. You can learn more
here.
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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. |
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