ABA Banking Journal: Responding to Hurricanes Milton and Helene
Join ABA and the ABA Foundation in Supporting Disaster Relief Efforts
In the wake of Hurricanes Milton and Hurricane Helene, the banking industry is once again coming together to help those affected by these devastating storms, including members of our banking family. To assist those in Florida impacted by Hurricane Milton, ABA and the Florida Bankers Association are encouraging bankers to consider contributing to the Florida Disaster Fund. The Florida Disaster Fund is the State of Florida’s official private fund established to assist Florida’s communities as they respond to and recover during times of emergency or disaster. ABA will continue to monitor Hurricane Milton and update this page as more information becomes available.
In response to Hurricane Helene, ABA has donated $50,000 to each of the relief funds established by the North Carolina Bankers Association and the Tennessee Bankers Association to respond to the devastation in those states. ABA encourages bankers to consider contributing to support relief efforts underway in Florida, North Carolina, Tennessee, Virginia, South Carolina and Georgia. Below are links to fundraising efforts and other ways to support storm victims in the affected states.
Here’s an 3:00 minute entertaining music video made by Director Easterly highlighting our Secure our World theme. This year’s emphasis (RUMP):
Recognize & Report Phishing messages;
Update Software;
Multi-Factor Authentication should be enabled for every application;
Passwords are unique, complex and longgggggggggggg (uppercase + lowercase + numbers + special characters & at least 12 characters).
ABA Banking Journal: FinCEN Releases Commercial on Beneficial Ownership Information Reporting
The Financial Crimes Enforcement Network this week released a new video and radio commercial to educate business owners on the new beneficial ownership information reporting requirements. It is part of a larger public outreach campaign by the agency, which includes a dedicated website and videos on BOI reporting.
FinCEN last month issued a notice to financial institution customers about BOI reporting, explaining why certain customers must report directly to the agency in addition to giving information to their banks, which are subject to the customer due diligence rule.
ABA's Nichols: Fighting financial crime requires partnership between industry, government
October 9, 2024
When it comes to fighting financial crime, strong partnerships between the public and private sectors are essential, American Bankers Association President and CEO Rob Nichols said today during the ABA/ABA Financial Crimes Enforcement Conference in Arlington, Virginia. Speaking to an audience of bankers, government officials and law enforcement, Nichols praised them for their work and outlined ABA initiatives to help the banking industry tackle the problem.
“No single bank — in fact, not even the entire banking sector as a whole — can effectively fight financial crime on its own,” Nichols said. “This pervasive problem is a burden that is shared by everyone, whether you are in the public or private sector.”
Nichols noted that ABA advocacy led to an Office of Foreign Assets Control proposal to its compliance release procedure for banks in cases where certain funds had been blocked by mistake, and that the association has been engaging with the Federal Communications Commission to end the text message scams targeting bank customers. He pointed to the launch of the ABA Fraud Contact Directory, which allows banks to connect with other institutions to resolve fraud claims effectively. He also pointed to ABA’s #BankNeverAskThat campaign to educate consumers about phishing scams, and the related #PracticeSafeChecks campaign to educate the public about check fraud.
“As you can see, ABA is taking a comprehensive approach toward helping banks fight fraud and financial crime,” Nichols said. “We’re engaging with private sector partners and policymakers to advocate for meaningful changes that will help banks in their work, not hinder them. We’re positioning ourselves as a linkage point for banks across the country, ensuring that they can quickly and easily share vital information they need to help stop crime in its tracks or recover funds for their customers if fraud has already occurred.
“We’re educating consumers across America on the steps they can take to protect themselves and stick it to the scammers,” he continued. “And we’re leading the way with premier training and certification opportunities to arm the next generation of fraud and financial crimes professionals with the skills and knowledge they need to stay one step ahead of the bad guys.”
Spreading out the asset risk With community bank guidance, a new national marketplace aims to help small and midsize banks manage asset risk related to being tied to local and regional resources. By Christopher Delporte
More partners, more risk, more oversight Education and expertise demands rise for boards amid growing oversight expectations for BaaS and fintech partnerships and other third-party relationships. By Paul Davis
Banks Never Ask That: 2024 Anti-Phishing & Check Fraud Campaign
#BanksNeverAskThat is back. And, great news, we're adding a new check fraud campaign - including a website, social media posts and videos - to educate your customers about using checks safely and paying digitally whenever possible.
We'll also have new #BanksNeverAskThat antiphishing materials, including videos and social media posts, to help you protect your customers from phishing scams. And to make it easy, when you register, all the assets for both campaigns will be available in one toolkit.
New to #BanksNeverAskThat? Registration is free for all banks regardless of ABA membership status. Upon registering, you'll receive a link to the participant toolkit.
WBA Section1071 Workshop
October 18, 2024 | 9am-3pm CDT | Madison, WI and Virtual
This 1071 Workshop is designed to provide attendees with an understanding of the 1071 final rule and how they can start implementing it in their organizations. The workshop will start out with an overview of the 1071 rule, helping attendees understand the larger framework that will be required. After this, we will walk through select aspects of the new rule, including institutional coverage, transactional coverage, implementation deadlines, and a review of the data points that will need to be collected and reported. The program will conclude with a discussion on creating an implementation plan, including a review of steps financial institutions can consider for rolling out the new small business data collection and reporting rule.
Tuesday, October 29, 2024 Holiday Inn City Centre| Downtown Sioux Falls, SD
Plan to attend the 2024 SDBA NEXT STEP: Emerging Leaders Summit in downtown Sioux Falls, South Dakota, on Tuesday, October 29, 2024. This year's agenda is another good one, with guest speaker and emcee kicking things off, Jack Stahlmann, the Don't Flinch Guy. Jack’s presentation, The Intangible It, examines the "it" quality movie stars possess that you can't quite put your finger on… or can you? Also on the agenda: former South Dakota Governor and Lt. Governor, Dennis Daugaard and Matt Michels; Marissa Brinkman; Sioux Falls Mayor, Paul Ten Haken; Janet Kittams with The Helpline Center; and South Dakota native, Andrew Kightlinger, film director and writer. Register for last year's registration rate through September 1st!
Duncan Taylor, SVP and COO of the Washington Bankers Association
In this episode of Banking Matters, host, Linsey Hugueley, speaks with Duncan Taylor, SVP and COO of the Washington Bankers Association. They discuss Duncan’s journey into banking, the evolving workforce landscape in the industry, innovative recruitment strategies, the importance of diversity and inclusion, and the significant impact community banks have on local economies. Duncan emphasizes the need for a shift in how banks approach talent acquisition and the importance of fostering an inclusive environment to attract a diverse workforce. He also highlights the ‘magic’ of banking in facilitating access to capital and building resilient communities, encouraging bankers to take pride in their work and the positive contributions they make.
Plan to attend the 2024 SDBA NEXT STEP: Emerging Leaders Summit in downtown Sioux Falls, South Dakota, on Tuesday, October 29, 2024. This year's agenda is another good one, with guest speaker and emcee kicking things off, Jack Stahlmann, the Don't Flinch Guy. Jack’s presentation, The Intangible It, examines the "it" quality movie stars possess that you can't quite put your finger on… or can you? Also on the agenda: former South Dakota Governor and Lt. Governor, Dennis Daugaard and Matt Michels; Marissa Brinkman; Sioux Falls Mayor, Paul Ten Haken; Janet Kittams with The Helpline Center; and South Dakota native, Andrew Kightlinger, film director and writer. Register for last year's registration rate through September 1st!
