Pub. 1 2022 Issue 4

For nearly as long as public wireless networks have been available, the best security advice has been to avoid them altogether. Why is this? Is there a way to be safe on public wireless networks? And what about the ones that use a password? Let’s take a closer look at where the security advice comes from and how you can stay safe now that we are once again venturing away from our home networks.

In just the first half of 2021, the banking industry experienced a 1,318% increase in ransomware attacks. Banks have become prime targets for cybercriminals due to the large amounts of sensitive customer data they hold.

Please tell us about IBAT and the role it plays
in Texas.
We help small banks with compliance, advocacy, education and much more. We also go to Austin and Washington, D.C., as advocates to ensure legislation supports community banks. Finally, we identify vendors that associate members have endorsed so that when community banks reach out to us, we can provide them
with a vetted list.

https://financialedinc.com/?a=nicb

The U.S. has undergone tremendous economic changes for more than 40 years. Those changes affect the middle class, and they also affect community banks. As income inequality has grown over the last 30-40 years, legislative changes have encouraged bank consolidation, and the number of community banks has decreased. According to an article by J.C. McKissen on the Inc. website, larger national banks either purchased these banks or merged with them. The article points out that the decrease in banks has made it harder for entrepreneurs to get the money they need.

The 2022 NICB Convention & Trade Show was held October 20-21 in Lincoln, NE. Attendees enjoyed many networking activities and an amazing lineup of speakers. A big thanks to our sponsors who made this event possible. We hope to see you at our next event. For more information, please visit nicbonline.com.

In March 2022, the Consumer Financial Protection Bureau (CFPB) made a significant revision to its examination manual for Unfair, Deceptive, or Abusive Acts or Practices (UDAAP). The main intent of this action is, as the CFPB states in its press release, “to better protect families and communities from illegal discrimination, including in situations where fair lending laws may not apply.”

When it comes to fraud, you don’t know what you don’t know, and what you don’t know can greatly influence your bottom line. But the effects of fraud are felt far beyond budgetary impact; our reputations are at risk. Customers expect their bank to keep their money safe, and though they are often the gateway for fraud, they are inclined to blame us if we can’t fix the problem.

The word “rally” can be used for a number of purposes and in different contexts. For instance, it could mean a long-distance auto race over varying surfaces involving stages and checkpoints. It could mean a gathering of supporters to generate enthusiasm and momentum for an individual or cause; we’ve seen plenty of these during this election cycle.

Cyber and data security have long been areas of emphasis for community banks, but in today’s escalating digital environment, that focus has grown. In fact, our 2022 CEO Outlook Survey ranked data security as a top concern, and as the digital sphere continues to evolve, all signs point to that level of concentration increasing.