SPECIAL NEWS BULLETIN
COVID-19 NEWS & RESOURCES
These are unprecedented and uncertain times as the world is dealing with the coronavirus/COVID-19 pandemic. Many banks are being forced to consider how they can also keep employees' and customers' health and well being at the forefront of their policies. Community Bankers of Iowa fully supports Iowa's community banks, and we have compiled tips and resources to help direct banks in responding to this crisis, protect their businesses, serve their communities and ensure the safety of customers and employees.

You can also find event updates and other news in our CommonCENTS newsletter (publishing each Friday) and on the CBI website .
Event News Updates
Industry event updates & cancellation notices.

CANCELLED:

RESCHEDULED:
Iowa Division of Banking
March 24, 2020
OTHER NEWS & ANNOUNCEMENTS
Detailing the Community Bank Provisions of the CARES Act

On March 25, the U.S. Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The House of Representatives is expected to pass the legislation, and the president is expected to sign it into law. Note that many of these provisions expire at year-end or upon termination of the national emergency. However, ICBA has successfully extended past emergency economic provisions and will press for extension of the community bank regulatory relief included in the CARES Act should they warrant extension.

Many open questions remain regarding the details of the provisions described below. These questions will not be clarified until the agencies issue guidance, which we expect they will do on an expedited basis. We will continue to provide information to community bankers as the details of the Act come into focus.   Read more.
Labor Department releases fact sheets for Families First Coronavirus Response Act

The U.S. Department of Labor’s Wage and Hour Division this week announced its first round of published guidance regarding the protections and relief offered by the Families First Coronavirus Response Act when it takes effect on April 1. The bill will provide businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation will ensure that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus while at the same time reimbursing businesses.

The guidance is provided in a Fact Sheet for Employees, a Fact Sheet for Employers and a Questions and Answers document — addresses critical questions, such as how an employer must count the number of their employees to determine coverage; how small businesses can obtain an exemption; how to count hours for part-time employees; and how to calculate the wages employees are entitled to under this law. The department said updates will be provided on a rolling basis.
ISU Guide Defines "Essential Business"

Multiple states have issued executive orders requiring people to “stay at home” and for non-essential businesses to shut down because of the COVID-19 pandemic. As of March 23rd Iowa has not issued a stay-at-home order related to non-retail and manufacturing businesses. This guide compiled by Iowa State University provides information related to understanding what the federal and most state governments consider to be an essential business.

FREE Pandemic Preparedness Webinar

Now available in CBI's catalog of webinars is the FREE recorded program "Pandemic Preparedness: Managing Coronavirus & Other Epidemics". With so much attention on COVID-19 in the press and around the world, financial institutions must assess whether they are prepared for staff absenteeism (including IT team members), reduced in-person transactions, more online activity, etc. How long will this last? Attending this webinar will start you on the right path and help you identify your institution’s strengths and weaknesses.

After this webinar, you'll be able to:
  • Improve your business continuity plan and procedures
  • Develop a detailed pandemic preparedness plan
  • Take practical, easy-to-implement steps to minimize staffing issues
  • Conduct exercises to test your pandemic preparedness plan
  • Save 25% on a customizable pandemic plan

This informative session is directed to risk officers, internal auditors, human resources staff, board members, and other management team members responsible for business continuity and pandemic preparedness.

The webinar is free for CBI members. Click here for more info and to view or download.
Don't let fear open the door to fraud
by Mike Burke, Sr. Robbery and Crisis Management Consultant - SHAZAM

For years, fraudsters have emerged and taken advantage of people when they are vulnerable, and with COVID-19 center stage right now, the opportunity for fraud is peaking. Fraudsters prey on emotion. Their favorite is fear. During these uncertain times, communicating with cardholders is critical.

Remind your cardholders...
  • We’ll NEVER call, text or email to ask for account numbers, card numbers or your PIN.
  • Don’t donate to charities until you fact-check to make sure the charity is real.
  • Be attentive to the elderly. Fraudsters are targeting them with offers to grocery shop and then requesting their private banking information for payment.
  • Visit only trusted online shopping sites. Be skeptical of any website that offers premium goods at unbelievable prices — no matter how authentic-looking it is. This includes free trial offers that dupe you into monthly fees in the fine print because the dollar amounts are spelled out in words (five dollars) rather than listed in a typical dollar-amount format ($5).
  • Don’t wire money to anyone without being 100% certain you know the receiver is who you think it is. Have you called them using a phone number in your contacts to confirm they need the funds? Very few people ask for money to be wired to them. Talk to your bank or credit union to get advice on how best to move money to someone else.
  • Hang up on robocalls. Pressing a key, even the opt-out option, may lead to more calls.
  • Don’t respond to texts and emails about checks from the government or threats from the IRS. Rest assured, if the government wants to get in touch with you, it will likely be by U.S. mail.
Have any COVID-19 pandemic-related news or resources to share?

CBI attempts to publish as many different viewpoints as possible to provide you with information in the banking industry. CBI does not necessarily endorse or support the opinions given in these third-party news sources.
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