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California DMV Reports Possible Data Breach

ICBA NewsWatch Today 03/25/2014

GrassrootsBuild on Recent Victories at ICBA Washington Policy SummitCommunity bankers can build on recent advocacy successes at the upcoming ICBA Washington Policy Summit. Scheduled for April 29-May 2 in the nation’s capital, the summit will feature meetings with members of Congress and regulators on the industry’s most pressing policy issues. ICBA and community bankers have scored several recent victories in the legislative, regulatory and judicial arenas. In addition to Volcker Rule accommodations on TruPS CDOs, ICBA has helped procure a new law to help prevent significant increases in flood insurance premiums and a positive appeals court decision on debit card interchange price fixing. Community bankers can build on these achievements at the ICBA Washington Policy Summit by continuing the industry’s campaigns for regulatory relief and changes to proposed housing-finance-reform legislation. Registration for the summit is free for community bankers and a spouse or guest. Visit ICBA’s Washington Policy Summit webpage to register today and make sure your voice is being heard in Washington. Learn More and Register. Go LocalUpdate Bank Locator Profile for Community Banking MonthIn addition to making their voice heard in the nation’s capital next month, community bankers can also spend April enhancing consumer awareness of their industry as part of Community Banking Month. To be ready for a month full of community bank outreach, ICBA is encouraging community banks to include their social media information in ICBA’s Community Bank Locator. To update your branch or social media information, go to and use your username and password or email ICBA with your information. Questions? Email or call 800-422-8439. The Community Bank Locator, which is available at, allows consumers and small-business owners to find their local community bank by simply typing in their ZIP code. The locator also is available via an app for Android, BlackBerry and iPhone devices. Update Your Profile. SecurityCalifornia DMV Reports Possible Data BreachThe California Department of Motor Vehicles announced that it has been alerted by law enforcement authorities to a potential security issue within its credit card processing services. The agency said there is no evidence of a direct breach of the DMV’s computer system, though it has opened an investigation into any potential security breach out of an abundance of caution. The state DMV said it is performing a forensic review of its systems and seeking information regarding any potential breach from both the external vendor that processes the DMV’s credit card transactions and the credit card companies themselves. ICBA has met and communicated with policymakers and the national media on the impact of recent retailer data breaches on community banks and will continue monitoring data-security developments. The association continues offering data-security resources for community banks and their customers on the association’s online security breach toolkit. ICBA NewsWatch Today is sponsored by QwickRate:Loan activity picking up? In need of deposits to help round out funding? Post rates on QwickRate. Attract a steady flow of institutional, non-brokered deposits – no transaction fees! Schedule your personalized webinar tour and learn more.AgricultureUSDA Farm Bill Listening Session This ThursdayThe USDA’s Farm Service Agency and Risk Management Agency are hosting a 2014 Farm Bill Listening Session for the public to share their views, priorities, and concerns about the new farm bill's programs and changes. The listening session is scheduled for 9 a.m. to 5 p.m. (Eastern time) this Thursday, and the public may submit written comments until April 2. USDA also announced several modifications to farm loan programs effective immediately. These changes include eliminating loan term limits for guaranteed operating loans; reducing the floor on direct farm ownership (FO) loans to 2.5 percent from 5 percent while increasing the maximum loan limit on direct FO loans to $300,000; and increasing the guarantee amount on Conservation Loans from 75 percent to 80 percent and 90 percent for socially disadvantaged borrowers and beginning farmers. RegulationAgencies Propose Minimum Requirements for Appraisal Management CompaniesFederal financial agencies issued a proposed rule to implement minimum requirements for state registration and supervision of appraisal management companies. AMCs serve as intermediaries between appraisers and lenders and provide appraisal management services. Under the proposed rule, AMCs would be barred from providing appraisal management services for federally related transactions in states that have not established a regulatory structure for AMCs.RegulationDeMarco Leaving FHFA in AprilThe Federal Housing Finance Agency announced that Edward J. DeMarco will leave the agency at the end of April. DeMarco served as acting director of the agency from 2009 until January 2014, when Mel Watt took over the agency as director. Watt thanked DeMarco for his assistance during the transition period.TechnologyATMs Face April Windows XP ShutdownStarting 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. Financial LiteracyDeadline Extended for NerdWallet Community Bank Award EntriesNerdWallet extended until this Friday the deadline for community banks to enter it Community Banking Local Project Award. The financial advice website is seeking submissions on community bank projects that highlight how community banks work with borrowers through good times and bad. To be considered for the award, entrants will need to prepare a short description of a local project funded in 2012 or 2013 that is $100,000 in total financing or larger. ICBA Senior Executive Vice President and Chief of Staff Terry Jorde will serve as the expert judge. The finalists and their financings will be recognized on NerdWallet’s award homepage and in a special feature on the website. The winning bank will be presented with an award, and NerdWallet will donate $1,500 to a charity of the winning bank’s choosing. Enter Today! Watch NerdWallet Video on the Contest. PollTake This Week’s Quick PollTake this week’s Quick Poll on Community Banking Month, and view results from the previous poll on the 2014 ICBA Washington Policy Summit. View the Archive.EducationLoan Review Seminar Coming in MayICBA is hosting an upcoming classroom seminar on structuring the loan process to ensure timely identification of problem credits, asset quality and accuracy. “Loan Review—Implementing Best Practices,” scheduled for May 19-20 in Minneapolis, also will cover well-defined classification guidelines that ensure consistent loan ratings and accounting for the allowance for loan and lease losses to comply with generally accepted accounting principles. Register Online.

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