In response to this letter sent by the NAAG, CBI in conjunction with the Iowa Bankers Association and the Iowa Credit Union League have issued a statement to Iowa's Attorney General Tom Miller asking that he either decline to sign the above mentioned NAAG letter, or to withdraw his support if already given.
Two weeks ago the National Association of Attorneys General (NAAG) sent a sign-on letter to attorneys general across the nation urging the implementation of chip and PIN technology in their states. The letter, to be sent to major card brands and issuers after those attorneys general added their signatures, sets forth the belief that chip and PIN should be the standard in the US and should be implemented without delay. This letter contains several mis-characterizations of security technology currently being used in the financial services industry, and directly contradicts the official positions of all four federal bank regulators, including the CFPB.
In response to this letter sent by the NAAG, CBI in conjunction with the Iowa Bankers Association and the Iowa Credit Union League have issued a statement to Iowa's Attorney General Tom Miller asking that he either decline to sign the above mentioned NAAG letter, or to withdraw his support if already given. The House voted 303-121 to pass CBI-advocated legislation to delay enforcement of the TILA-RESPA Integrated Disclosure rule that took effect Oct. 3. H.R. 3192 would provide a reasonable hold-harmless period through Feb. 1, 2016, for good-faith efforts to comply with the TRID rule.
The Senate has yet to act on the grace period, and the White House may veto the bill if it reaches the president's desk. however, the bipartisan vote in the House is above the 2/3 majority needed to override a veto. DOWNLOAD TRID RULE SUMMARY GUIDE Community Bankers of Iowa Political Action Committee has been vigilant in defense of the views and needs of independent bankers. CBI has evolved their political efforts to concentrate on issues that are of benefit to Iowa's community banks and their local economies. Our ability to bring forward those issues and projects and to coordinate with other like minded organizations, is supported by our ability to make political contributions to candidates and legislators. 100% of contributions stay right here in Iowa. Who May Contribute? A bank may solicit contributions from stockholders, directors and administrative officers. Other bank employees may voluntarily contribute to the PAC, but under Iowa law cannot be directly solicited for contributions. Regardless of your role in the operation of your bank, your contribution to the CBI PAC is an investment in the future of your bank. Directly affect the future of community banking legislation! Consider joining the CBI Legislative Action Committee to assist with formulating strategies and tactics on the state and federal levels. More information. NOTE: The CBI PAC cannot accept corporate contributions, anonymous contributions, or a contribution in the name of or on behalf of another person.
Each year the Des Moines Register takes nominations from employees around Iowa to compile its Top Workplaces list, and Iowa community banks once again made the cut. CBI member banks considered to be among the best-of-the-best in Iowa employers:
by Charles S. Morris, Vice President and Economist, Federal Reserve Bank of Kansas City and Kristen Regehr, Assistant Economist, Federal Reserve Bank of Kansas City Reprinted with permission of Community Banking Connections®. Copyright 2015 Federal Reserve System. Legal Disclaimer: The analyses and conclusions set forth in this publication are those of the authors and do not necessarily indicate concurrence by the Board of Governors, the Federal Reserve Banks, or the members of their staffs. Although we strive to make the information in this publication as accurate as possible, it is made available for educational and informational purposes only. Accordingly, for purposes of determining compliance with any legal requirement, the statements and views expressed in this publication do not constitute an interpretation of any law, rule, or regulation by the Board or by the officials or employees of the Federal Reserve System. ![]() Community bank profitability declined sharply during the 2007–09 financial crisis and recession. Profitability has improved since the crisis, primarily due to declines in loan-loss provisions. Net interest income — the largest source of revenue for community banks — has remained flat, however, and is below pre-crisis levels. According to many observers, including community bankers, the low interest rate environment has made it difficult for financial institutions to earn an adequate spread on loans since the recession ended. In addition, bankers say weak lending opportunities and loan demand have contributed to reduced interest income. This article summarizes the findings of a recent study that discusses the factors that most influence community bank net interest income and the extent to which these factors are contributing to the current low levels of net interest income [1]. Additionally, the article examines whether net interest income (since the crisis and recession began) is abnormal relative to historical experience. The results of the study suggest the lack of recovery in community bank net interest income seven years after the start of the financial crisis and recession is not unusual given economic and banking conditions. Two CBI Member banks have made Bank Director magazine's list of the 300 top performing public banks with assets of $1 billion to $5 billion. Hills Bancorp. in HIlls ranked #17, and West Bancorporation Inc. in West Des Moines, #19. The scorecard used five key metrics that measure profitability, capitalization and asset quality.
See the full list. ATM card skimming is on the rise in the nation, and hit home in Iowa last week. Two men have been charged with using skimmer devices to capture bank account information at three locations around Des Moines. A skimmer device fits over the ATM's card reader slot and has its own memory chip to record the information on the card as it is swiped. Skimmers secretly record bank account data when a user inserts an ATM card into the machine. Criminals then can encode the stolen data onto a blank card and use it to access the customer's bank account. Skimmers also come in different colors like the green one used in Des Moines, or in a grayish color that would look similar to an ATM, making it hard to tell it's fake. Original card readers are usually concave in shape (curving inward), while skimmers are more convex (curving outward). The use of keypad overlays placed directly on top of the factory-installed keypad is a relatively new technique that takes the place of a concealed camera. Instead of visually recording users punching in PINs, circuitry inside the phony keypad stores the actual keystrokes. View the gallery below for examples of skimmers and keypads being used to steal account info from ATMs: Members of the the Federal Home Loan Bank of Des Moines and the Federal Home Loan Bank of Seattle today overwhelmingly ratified a merger agreement that was approved in September 2014 by their boards of directors. The merger is expected to close once the the agreement receives final approval from the Federal Housing Finance Agency, which also must accept the continuing bank's organization certificate. The combined bank will be based in Des Moines, with a western regional office in Seattle.
“The fact that 75 percent of our membership, representing 82 percent of the votable shares of Seattle Bank stock, participated in the voting process speaks to the important role your cooperative plays for your businesses, your customers, and your communities—and the potential for this combination to deliver greater value to you over the long term,” Michael Wilson, FHLB Seattle president, said in a release announcing the vote. |
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