SDBA eNews: October 15, 2015

In This Issue

Hacker Hour: Tricks and Treats of Security Awareness


There are a lot of ghosts and goblins after banks' customer information. The best way to protect a bank's information is to create and maintain a strong security awareness program. 

Join SBS for Hacker Hour: Tricks and Treats of Security Awareness on Oct. 28 at 2 p.m. CDT. SBS will discuss the spooky techniques that hackers use to get information and generate ideas on how banks can incorporate these techniques into their security awareness program that keeps the monsters at bay. 

Learn more and register.


Learn to Foster Ongoing Engagement, Not Transactions


The time has come for financial institutions to change their approach to account holder loyalty and retention. Evidence shows that existing product-centric methods do not foster a lasting connection to your institution. Loyalty only lasts until a better deal comes along.

Join Aite Group and Deluxe for an executive webinar "Banking on Loyalty: Why financial institutions must foster ongoing engagement, not transactions" on Nov. 3 at noon CDT.

This webinar will be flush with new research, including how to use a loyalty program that improves account holders’ perceptions and behavior over the long term. The webinar will also discuss how to utilize the power of transaction-level data interconnected with the mobile banking app. Learn more and register.


Question of the Week

CFPB guidance states that if a consumer has entered the six data items constituting an "application" in an online system, but has not yet hit a "Submit My Application" button, the lender does not yet have an "application" triggering the RESPA-TILA disclosures. But what if MLOs has the ability to view the data in the “unsubmitted” application, and even contacts the consumer to encourage them to submit the application or ask if they need assistance with completing the application, would this action increase the risk of violation if disclosures were not sent?

Answer: That is exactly what the guidance states, therefore, you are correct in that the consumer must submit their application for purposes of triggering the Loan Estimate. That being said, the regulation nor the related guidance specifically address the situation you describe of a MLO being able to view “unsubmitted” application information, however; it seems clear that until an application is submitted, disclosure requirements are not triggered.

The preamble to Reg Z states the definition of application refers to the “submission” of the six items of information that make up the definition, if a consumer starts filling out a mortgage application form online, enters the six pieces of information that constitute the definition of “application,” but then saves the mortgage application form to complete at a later time, the consumer has not submitted the items of information.

Learn more by attending one of our live demos:

Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call 888.353.3933 or email.


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Questions/Comments

Contact Alisa DeMers, SDBA, at 800. 726.7322 or via email.

Blanchfield Honored with New ABA Award


The ABA on Wednesday announced that John Blanchfield, who was SVP for agricultural and rural banking at ABA for 25 years before retiring in January, will be honored with the first annual Blanchfield Award.

He will receive the prize at ABA’s National Agricultural Bankers Conference on Oct. 28 in Kansas City, Kan. The new award -- which complements the Bruning Award for lifetime achievement by an ag banker -- will honor non-bankers who make major contributions to the ag finance field.

“John has dedicated his career to making the ag banking industry better for bankers and their customers,” said ABA SVP Steve Apodaca. “From providing a national forum for ag bankers to collaborate to consensus building on issues critical to the industry, we believe he deserves recognition at the national level.” Read more.


Analysis Covers CFPB Exemptions for Small Creditors, Rural Areas


ABA has issued a members-only staff analysis covering the Consumer Financial Protection Bureau’s recent changes to the small creditor and rural or underserved area exemptions under their mortgage rules.

The analysis explains the revised transaction quantity and asset size tests for small credit status, the expanded methods for determining if a creditor operates predominantly in a rural or underserved area. The analysis also reviews revised grace periods for determining eligibility for the expanded relief. View the staff analysis.


GSB, SDBA To Co-Sponsor Violence in the Workplace Seminar


The Graduate School of Banking at the University of Wisconsin-Madison is hosting the online seminar "Violence in the Workplace" on Oct. 29 at 10 a.m CDT. The seminar will be presented by GSB instructor Patty Wise.

Workplace violence can strike anywhere, anytime, and no one is immune – but research shows that the risk of violence increases for some workers at certain worksites. Factors such as exchanging money with the public and working with volatile, unstable people can increase the risk of workplace violence – and that is of particular concern in the banking industry. Nothing will prevent every tragedy; however, there are some common sense safeguards that every bank should take to protect their employees, customers and communities.

Topics to be addressed include pre-hiring precautions, policy considerations, management of the workplace, best practices for terminations and post-termination safeguards. GSB is offering this program at the reduced rate of $129, making it affordable for institutions of all sizes. Learn more. Register online.


Resources Available for Cybersecurity Awareness Month

 
As part of ABA’s participation in National Cybersecurity Awareness Month, ABA SVP Doug Johnson conducted a nationwide radio tour last Friday, reaching nearly 14 million listeners on more than 2,000 stations across the country.

Johnson provided tips for consumers on protecting their computers, mobile devices and identity in the event of a breach. More ABA resources on National Cybersecurity Awareness Month are available at aba.com/PRTools.

National Cybersecurity Awareness Month occurs every October as a national campaign designed to increase the public's awareness of cybersecurity and cyber crime issues. The campaign is organized by the National Cyber Security Alliance, a consortium of public and private sector sponsors who share a concern about protecting the public from Internet threats.

On a related note, Secure Banking Solutions published its 10 essential cybersecurity best practices as part of Cybersecurity Awareness Month.


Eide Bailly To Hold 35th Annual Bankers Seminars


Eide Bailly is holding its 35th annual Bankers Seminar "Navigating the Sea of Change," where it will provide bankers with industry insights and valuable information. The seminar will be held in Sioux Falls on Nov. 4 at the Hilton Garden Inn Downtown.

Anyone involved in the banking industry is invited to attend. The half-day seminars are designed primarily for bank executives, lenders, operations managers, bank directors and bank professionals.The Sioux Falls session will be begin at 1 p.m., with a dinner and evening speaker at 6 p.m.

The keynote speaker is Kenneth J. (Ken) Kies, managing director of The Federal Policy Group, LLC, which provides sophisticated strategic and technical tax advice on tax policy matters before Congress, the U.S. Treasury Department, the Internal Revenue Service and the Organization for Economic Cooperation and Development. Kies has delivered significant legislative and regulatory results for his clients, which include major corporations, trade associations and coalitions of companies with common objectives.

Learn more. Register to attend.


GSB To Host Workshop for Family Bank Owners


The Graduate School of Baking at the University of Wisconsin-Madison will host a workshop for family bank owners Jan. 17-20, 2016, in Palm Springs, Calif.

"Complexities and Opportunities in Family-Owned Banks: A Family/Owners' Workshop" will focus on individual and family skills to strengthen leadership and bolster trust, as well as recognizing the business challenges and opportunities faced by family-owned banks. The workshop will also describe universal challenges and opportunities that are often left un-leveraged. Content and exercises will primarily cover both personal and interpersonal complexities and opportunities within the family-owned bank.

This unique, hands-on workshop will be held at the OMNI Rancho Las Palmas, in Palm Springs, where family members and the bank's management team can enjoy a meaningful, informative program while spending quality time together at the resort during evenings and breaks. This location is an ideal venue for families to address key issues in a relaxed setting -- and the reduced room rate makes it affordable to bring the whole family.

Learn more. View the curriculum.