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Security
ICBA Hosting Audio Conference Wednesday on Security Breaches
ICBA is hosting an audio conference this week on the recent security breaches at Target and other retailers. The audio conference, scheduled for 1 p.m. (Eastern time) this Wednesday, will provide up-to-the-minute details, review ICBA resources and best practices, and encourage participants to share their experiences and provide peer insight. The audio conference is free to ICBA member and nonmembers.

In a message to the nation’s community bankers, ICBA Chairman Bill Loving and ICBA President and CEO Cam Fine wrote that the association’s resources are dedicated to keeping community bank franchises out of harm’s way. “We are all community bankers, and the security breaches affect all of us,” they wrote.

Loving and Fine noted that ICBA has released a comprehensive toolkit to help community bankers deal with this travesty. The ICBA Toolkit on Maintaining Consumer Confidence During a Data Security Breach provides the resources community bankers need to respond to these security breaches and to defend against future criminal acts.

Register for the ICBA Audio Conference.

Access ICBA’s Data Breach Toolkit.

Read the Message from Loving and Fine.



Volcker Rule
ICBA Audio Call on Volcker CDO TruPS This Thursday
A separate ICBA audio conference scheduled for this week will help community banks affected by Volcker Rule provisions on collateralized debt obligations backed by trust-preferred securities. The audio conference, slated for 2 p.m. (Eastern time) this Thursday, will cover the interim final rule expected from the agencies this week and how the final Volcker Rule will affect CDO TruPS.

In an online video address to community bankers affected by the CDO TruPS provisions, ICBA President and CEO Cam Fine said that ICBA’s advocacy efforts on the Volcker Rule are making important progress in Washington. “ICBA has been working in Washington day in and day out to hold policymakers’ feet to the fire and to prevent regulatory overreach from threatening community banks and local communities across the nation,” Fine said.

The video and additional resources are available on ICBA’s new webpage dedicated to the Volcker Rule CDO TruPS provisions.

Additionally, ICBA is submitting a statement for the record on the CDO TruPS issue for tomorrow’s House Financial Services Committee hearing on the Volcker Rule.

Register for the Audio Conference.

Visit the Volcker Rule Resource Page.



Congress
ICBA Testifying Today at House Hearing on QM Rule
ICBA is scheduled to testify before Congress today on the impact of new Consumer Financial Protection Bureau mortgage rules. Jack Hartings, ICBA vice chairman and president of the Peoples Bank Co. in Coldwater, Ohio, is slated to testify before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit.

Friday was the effective date for several CFPB mortgage rules, including the Qualified Mortgage rule requiring banks to determine consumers’ ability to repay their loans. ICBA recently posted new reference charts on the ability-to-repay and qualified mortgage rules and offers additional resources on its Mortgage Rules Resource Page.

Additional information and compliance resources on the new mortgage rules can be found on the CFPB’s Regulatory Implementation webpage. Additionally, community bankers can submit questions to the CFPB at CFPB_reginquiries@cfpb.gov or 202-435-7700.


ICBA NewsWatch Today is sponsored by FIS:
When it comes to serving community banks, FIS is right in your neighborhood.  FIS understands that you’re more than a bank. You’re a vital resource to your community.  That’s why we offer a wide range of integrated solutions that can be tailored to the unique needs of your valued customers.  To stay competitive in an ever-changing banking landscape, you need to be more connected with your customers than ever before and  FIS is focused on connecting the best people, processes and technology to your business to help you succeed.  For more information on FIS’ complete suite of technology solutions, visit www.fisglobal.com.


Plan for Prosperity
House to Vote on Thrift Holding Company Relief as Soon as Today
The House is scheduled to take up ICBA-advocated legislation to allow thrift holding companies to take advantage of the new 1,200-shareholder Securities and Exchange Commission deregistration threshold. The Holding Company Registration Threshold Equalization Act (H.R. 801), which is scheduled to be considered on the House floor today, also would raise the registration threshold to 2,000 shareholders.

Due to an oversight in the Jumpstart Our Business Startups (JOBS) Act, thrift holding companies cannot take advantage of the increased shareholder threshold below which a bank or bank holding company may deregister with the SEC. Because thrift holding companies are regulated just like bank holding companies, ICBA has strongly advocated legislation to correct the error.

Similar legislation (S. 872) has been introduced in the Senate. The bills are among many regulatory relief provisions in ICBA’s Plan for Prosperity platform for the 113th Congress.


Security
ICBA, Coalition Back Cyber-Security Bill Ahead of Markup
ICBA and a coalition of other financial trade groups thanked members of Congress for introducing legislation to strengthen the nation’s cyber-security infrastructure.

The National Cybersecurity and Critical Infrastructure Protection Act (H.R. 3696) would strengthen existing entities, such as the Financial Services Sector Coordinating Council, that help identify threats, respond to cyber-incidents and coordinate with government partners. The bill also would improve the provisioning of security clearances for those involved in cyber-security information sharing.

In a joint letter to House Homeland Security Committee Chairman Michael McCaul (R-Texas) and Ranking Member Bennie Thompson (D-Miss.), the coalition wrote that this common-sense, bipartisan legislation recognizes the necessary partnership between the private and public sectors.

The House Homeland Security Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies is scheduled to mark up the legislation at 2 p.m. (Eastern time) tomorrow. Read the Joint Letter.


Products and Services
New ICBA Reinsurance Program Helps Reduce Auto Loan Charge-Offs
ICBA Reinsurance announced a new alliance with Transamerica and Frost Financial Services Inc. to bring an enhanced Guarantee Auto Protection program, AutoShield GAP, to ICBA community bank members. GAP products protect an auto loan borrower’s new vehicle in the event it is stolen or damaged and deemed a total loss.

AutoShield GAP pays the difference in what the insurance company says the vehicle is worth and the remaining balance that the borrower owes, which protects the bank’s customers and the bank itself.

To learn more about how to drive results through AutoShield GAP or to sign up for the program, contact ICBA Reinsurance at 888-790-6625. Read ICBA Release.


Poll
Take This Week’s Quick Poll
Take this week’s Quick Poll on the Consumer Financial Protection Bureau’s new mortgage rules, and view results from the previous poll on the Target payment-card breach. View the Archive.


Education
ICBA Seminar Features Advanced Community Bank IT Issues
An upcoming ICBA seminar will help technology officers and security officers learn more about some of the newer technologies community banks are implementing. Advanced Community Bank IT Issues, slated for April 16-17 in Minneapolis, also will provide Certified Community Bank Technology Officers with an opportunity to earn CPE credits to apply towards their certification. Learn More and Register.


Products and Services
Free Webinar: Using Asset Quality Ratings to Monitor and Manage Credit Risk
WebEquity Solutions, an ICBA Preferred Service Provider, is hosting a webinar this Thursady on how community banks can build a credit rating framework to provide more guidance and objectivity to assigning asset quality ratings. “Using Asset Quality Ratings to Monitor and Manage Portfolio Credit Risk” will also feature how to address the distinct differences in rating C&I loans versus small-business, CRE, construction and ag loans. Register Online.











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