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ICBA Issues One-Pager on Target REDcard
ICBA released a one-page fact sheet on the Target REDcard, a debit and credit proprietary card issued by Target. Now available on ICBA’s toolkit that offers community bank resources on the recent retail data breaches, the one-pager offers details on the Target REDcard and how it was affected by the data breach at Target stores.

The one-pager notes that some community bank customers have reported unauthorized ACH point-of-sale transactions initiated with the debit version of the Target REDcard. It encourages community banks that receive customer complaints regarding unauthorized Target REDcard ACH POS debit transactions to return the transactions as unauthorized in accordance with Regulation E: Electronic Funds Transfers and NACHA Operating Rules and Guidelines.

Community bankers can continue to ask questions and share their experiences on the security breaches Target and other retailers by emailing SecurityBreach@icba.org. More information and resources are available on the ICBA toolkit.

View the One-Pager.

Visit the ICBA Toolkit.

Plan for Prosperity
Full Kansas Delegation Now Cosponsoring CLEAR Relief Act
Following active grassroots outreach from Kansas community bankers and the Community Bankers Association of Kansas, the entire state congressional delegation has signed on to cosponsor ICBA-advocated regulatory relief legislation.

Rep. Mike Pompeo recently joined Reps. Tim Huelskamp, Lynn Jenkins and Kevin Yoder and Sens. Jerry Moran and Pat Roberts as cosponsors of the Community Lending Enhancement and Regulatory (CLEAR) Relief Act (H.R. 1750/S. 1349).

Kansas joins Arkansas and the Community Bankers of Arkansas as the only states to have their entire delegation sign on as cosponsors.

The CLEAR Relief Act measures would advance several provisions of ICBA’s Plan for Prosperity regulatory relief platform to relieve unnecessary burdens on community banks. Among its provisions, the CLEAR Relief Act would:
  • provide qualified mortgage status for community bank portfolio loans,
  • exempt community bank portfolio mortgages from new escrow requirements,
  • exempt smaller mortgages from new appraisal standards,
  • modernize the Federal Reserve’s Small Bank Holding Company Policy Statement,
  • relieve publicly traded community banks and thrifts from unnecessary accounting and auditing expenses, and
  • eliminate redundant privacy notice mandates.
ICBA congratulates Kansas and Arkansas community bankers and their respective state community banking associations for a job well done. The association also thanks these delegations for supporting the legislation. Community bank grassroots support for the legislation has brought the cosponsor total to more than 100 in the House and more than 20 in the Senate.

The association continues encouraging community bankers and ICBA-affiliated state associations to contact their members of Congress if they have not yet signed on as cosponsors to this critical legislation.

Find Cosponsors for H.R. 1750 or S. 1349.

Call Your Lawmakers Today.

Send a Follow-Up Message.

ATMs Face April Windows XP Shutdown
Starting April 8, ATMs running on Windows XP software will no longer be eligible for Microsoft tech support. With Microsoft ending support for XP, ATMs that run on that operating system will no longer receive regular security patches and or be in compliance with industry standards.

As reported by Bloomberg Businessweek, approximately 95 percent of the nation’s 420,000 ATMs run on the 12-year-old XP system. While advanced ATM fleets can do the update over their networks, older ATMs must be upgraded individually or replaced, the magazine reported.

For ATMs using a stripped-down version of XP known as Windows XP Embedded, which is less susceptible to viruses, Microsoft support lasts until early 2016. Read More from Microsoft.

ICBA NewsWatch Today is sponsored by NACHA:
With nearly 1,200 members listening to what’s being said about them on social media, ICBA announced the expansion of its premier social media monitoring tool—the ICBA Social Media Monitor, sponsored by NACHA. Participating community bankers can now search up to five keywords, allowing ICBA member banks to find even more mentions of their banks from consumers, media and policymakers!  Current participants interested in adding or changing keywords can email monitor@community-bankers.com. Please include your bank name, email contact info, and list of new keywords and phrases to monitor. New participants can set up their preferences at www.icba.org/webmonitor or read frequently asked questions about the program.

Farm Bill Negotiators Eye Vote by Month-End
While Congress is out this week, the debate on a new farm bill has progressed as negotiators work to settle their differences over dairy policy. House Agriculture Committee Ranking Member Collin Peterson (D-Minn.) told reporters last week that he expects House leadership to bring the farm bill to the floor the week of Jan. 27. A spokesman for Speaker of the House John Boehner (R-Ohio) said Boehner is hopeful negotiators have found a way to move forward.

Remaining farm bill issues include dairy policy, payment limits and the definition of "actively engaged" farmers, according to reports. Negotiators are working to finalize a new five-year farm bill before month-end to avoid reverting to 1949 laws that could cause milk prices to spike. The one-year extension of the 2008 farm bill expired Oct. 1.

Take This Week’s Quick Poll
Take this week’s Quick Poll on the Consumer Financial Protection Bureau’s Qualified Mortgage rules, and view results from the previous poll on the CFPB’s mortgage rules. View the Archive.

ICBA Offers Key Issues for Community Bank Directors DVDs
Are you new to the board, an aspiring up-and-comer, or a seasoned director in need of a refresher? Key Issues for Community Bank Directors is a must-have resource for any director looking to quickly develop an understanding of their bank oversight responsibilities in today’s banking environment.

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