ICBSD Holds Meetings with D.C. Delegation
Members of the ICBSD are currently in Washington D.C. discussing issues important to our community bank members with Senator Rounds and Thune and Representative Noem.
The following issues were discussed at meetings on Tuesday and this morning:
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.
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ICBA Member ID: 141351622
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Be Prepared: How to Recognize, React, and Respond to a Security Breach
Banks are progressively becoming key targets of security breaches. If successful, these breaches may result in financial loss and identity theft. To mitigate these negative effects, banks are finding it necessary to develop an incident response plan.
This webinar will give an overview of how to recognize, react, and respond to a security breach - and will help banks review, update, or create a set of policies and procedures designed to effectively respond to security incidents.
Who should attend:
This webinar is designed for presidents, CEOs, CFOs, COOs, and IT professionals of banks.
Speakers:
- Randy Romes, Information Security Principal
- Chad Nordstrom, Information Security Manager
Fee:
Complimentary
Schedule:
10 - 10:50 a.m. - Webinar
10:50 - 11 a.m. - Question and answer
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NIST Cybersecurity seminar is a big opportunity
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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."
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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.
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View Agenda and Featured Speakers
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| Community Bankers Webinar Network Courses |
Printable 2016 Webinar Schedule
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
May 24 - Audit Compliance Series: Developing Quality & Efficiency in Your IT Audit
May 25 - Debt Collection Series: Real Estate Loan Workouts, Deeds in Lieu, Short Sales, Foreclosures, Deficiency Judgments & Receiverships
May 26 - Understanding & Managing the CFPB Complaint Process |
| SBS Institute Certifications |
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Feds Add Ransomware to Pump/Dump Scheme Charges
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Prosecutors have expanded a complex case, involving an alleged pump-and-dump stock scheme, hacking into U.S. banks and operating an unlicensed bitcoin exchange.
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Small Business Lending: Partnering Your Way to
the Top
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Small business lending is a large and yet still underserved market in which community banks are generally well positioned to compete.
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Superior Security and Superior Customer Experience: Can We Have Both?
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Financial institutions of all sizes are feeling the competitive pressure to focus on exceptional customer experience in their digital channels.
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Mobility and Security in the Banking Industry
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Cyber threats have become so widespread and well orchestrated that new security methods must be implemented if banks intend to fully protect the sensitive data entrusted to them.
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Surviving the Three Most Common M&A Challenges
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From initial discussions to final closing, merging two financial institutions is no small feat.
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Are Fintech and Community Banks a Perfect Match?
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Retail customers are judging their banks by their digital products, and larger banks have at least the perceived advantage there. But community banks should not give up too soon.
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or view this link for our latest edition of the ICBSD Capitol Comments.
Must Read Regulatory Information for Community Bankers
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Depository Institutions Deregulation and Monetary Control Act of 1980.
The Depository Institutions Deregulation and Monetary Control Act (enacted on March 31, 1980), required banks that weren't Federal Reserve System members to hold reserves with the Fed. Learn more here.
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Register Now for the Washington Policy Conference
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2016 Series - 6 for the price of 5
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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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