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ICBA Offers Q&A, Audio Call Recording on Retail Security Breaches
Community bankers can access a question-and-answer document and recording of ICBA’s recent town hall audio conference on the security breaches at Target and other retailers.

The ICBA Commentary and Best Practices Guide, which is available as part of ICBA’s toolkit dedicated to helping community banks with the security breaches, answers community banker questions submitted during last week’s ICBA audio call on the breaches.

Additionally, community bankers can request a recording of ICBA’s presentation during the audio call, which offers a recap of the available facts of the case and how community banks can respond. Due to privacy considerations, the Q&A portion of the call has been removed.

Also this week, ICBA released a one-page fact sheet on the Target REDcard, a debit and credit proprietary card issued by Target. Community bankers can continue to ask questions and share their experiences on the security breaches at Target and other retailers by emailing SecurityBreach@icba.org.

Neiman Marcus this week announced that at least 1.1 million debit and credit cards were compromised in a malware attack on its stores from July 16 to Oct. 30. The retailer said it is notifying all customers who shopped in its stores in 2013.

View the Commentary and Best Practices Guide.

Request a Recording of the Call.

View the REDcard One-Pager.

Visit the ICBA Toolkit.

ICBA Outraged at Retailer Letter Blaming Banks for Data Breaches
In related news, ICBA this week expressed outrage at a National Retail Federation letter blaming the financial services industry for recent data breaches at retailers such as Target and Neiman Marcus. In a national news release, ICBA said that the NRF should focus its attention on responding to the harm that security breaches at several retailers have done to consumers and their financial institutions rather than hurling false allegations blaming the banking industry.

In recent letters to House and Senate lawmakers, ICBA wrote that the party that suffers a data breach—whether it is a retailer, data broker, financial institution or other entity—should be responsible for fraud losses and the costs of mitigation and restitution when consumer information is compromised. Additionally, ICBA called for a single national standard to replace the patchwork of state laws on data security breaches that fosters confusion and puts consumers at risk. Read ICBA Release.

Plan for Prosperity
CLEAR Relief Act Tops 100 House Cosponsors Following Grassroots Blitz
Following November’s ICBA grassroots blitz in support of legislation to provide much-needed regulatory relief, more than 30 additional members of the House and Senate have signed on as cosponsors of the CLEAR Relief Act of 2013 (H.R. 1750/S. 1349). The grassroots push has brought the cosponsor total to more than 100 in the House and more than 20 in the Senate in a matter of weeks.

ICBA continues encouraging community bankers to view the list of cosponsors for the House and Senate legislation and to urge their members of Congress to cosponsor the legislation if they have not yet signed on.

The legislation, inspired by ICBA’s Plan for Prosperity regulatory relief platform, offers community bank exemptions from mortgage and auditing regulations and supports additional capital opportunities for small bank holding companies.

ICBA waged the grassroots effort to maximize support of the legislation heading into the 2014 congressional session. However, continued outreach is needed to increase momentum for congressional action.

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

Call Your Lawmakers Today.

Send a Follow-Up Message.

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.

Jerry Rice Joins ICBA Community Banking Live Lineup
NFL Hall of Fame wide receiver Jerry Rice is the newest addition to the general session lineup at ICBA Community Banking Live, scheduled for March 2-6 in Honolulu, Hawaii. The NFL’s all-time leader in touchdowns, receptions and reception yards joins an impressive group of keynote speakers.

ICBA also has extended early-bird convention registration until Monday, Feb. 3. Community bankers who register before then will receive a $300 discount to attend the most comprehensive educational and networking event in the community banking industry.

Additionally, the ICBA Live 2014 Mobile App is now available. Designed for smartphones and tablets, the interactive mobile app will connect community bankers with the latest convention news, exhibitor information, social media discussions and more. To download the mobile app, search “ICBA” in your App Store or Market. Learn More and Register.

CFPB Proposes Oversight of Large, Nonbank Remittance Providers
The Consumer Financial Protection Bureau proposed a rule that would allow it to supervise certain nonbank international money transfer providers. The proposed rule would bring new oversight to larger nonbank international money transfer providers.

CFPB examiners already have the authority to assess the largest banks’ and credit unions’ compliance with its rule on remittances. The proposed rule would also subject to the remittance regulations any nonbank international money transfer provider that provides more than 1 million international money transfers annually.

Existing-Home Sales Rise 9.1 Percent in 2013
Existing-home sales rose 1 percent in December to a seasonally adjusted annual rate of 4.87 million, according to the National Association of Realtors. Sales are down 0.6 percent from December 2012. Sales for all of 2013 were up 9.1 percent from the previous year, the strongest performance since 2006.

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.

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