Blog Post List

Prevent the ransomware epidemic from infecting your organization 

by Heather Wyson-Constantine, Vice President of Payments and Cybersecurity, American Bankers Association

By now, you’ve mostly likely heard the news: ransomware is here and it’s a problem. The impact can be devastating. Imagine not being able to access your email, customer information or vital records for days or even weeks. Victims not only face monetary losses associated with the ransom and loss of business during the downtime, but also the additional forensics costs, the loss of employee productivity and, most importantly, customer trust.

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FDIC issues a special edition of Supervisory Insights 

Reviews and updates the Pocket Guide to help bank board members effectively fulfill duties
Apr, 2016 Categories: Best Practices FDIC Spotlight

April 5, 2016: The Federal Deposit Insurance Corporation (FDIC) issued a special edition of Supervisory Insights, A Community Bank Director's Guide to Corporate Governance: 21st Century Reflections on the FDIC Pocket Guide for Directors.

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Repossess Consumer Automobiles? You Could Be At Risk For A Costly Class Action Lawsuit. 

by Adam Cornett, Senior Attorney, ABA Insurance Services

After repossessing a vehicle on a defaulted consumer auto loan, a bank must provide a “pre-sale notice” under the UCC before disposing of the vehicle through a public or private sale. When the vehicle is sold for less than the amount owed, a bank typically files a deficiency collection action against the debtor. If, however, the Bank’s pre-sale notice is defective under the UCC, the bank is risking becoming embroiled in the defense of a class action counterclaim filed by the debtor.

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Webinar Video: The Ins & Outs of Cyber Insurance 

Original broadcast: March 31, 2016

Now available for viewing: Moderated by American Bankers Association's Doug Johnson. Pete Hilbert and Mike Read of ABA Insurance Services provided insight into identifying cybersecurity exposures, what’s current in the cyber insurance industry and the details behind most cyber insurance policies. 

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ABMI announces 26th consecutive distribution to participating banks 

$81.2 million has been declared in total distributions since 1991.
Dec, 2015 Categories: Distribution Spotlight

American Bankers Mutual Insurance, Ltd., the reinsurer of the ABA-endorsed insurance program, has declared a $1.1 million distribution to current member banks of the American Bankers Association (ABA) that have D&O, Financial Institution Bond and related insurance from ABA Insurance Services.

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Community banking and the “Green Rush” 

Why banks resist the urge to service marijuana-related businesses
Dec, 2015 Categories: Legalized Marijuana SafeTalk Spotlight

The opening up of the market for recreational and medical marijuana is so lucrative that it has been dubbed the “Green Rush.” Marijuana-related businesses in these states, like most businesses, need to receive suitable banking services; however, banks are generally unwilling to establish and fulfill these banking relationships.

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NEW Cyber program, including new cyber policy and loss control/breach resources 

ABA Insurance Services recently introduced a new Cyber insurance program with three key features:
·  Cyber Cover, a cyber liability and privacy insurance policy (currently approved in 38 states);
·  Cyber Care, an open and free forum available to everyone; and
·  Cyber844, a login accessible portal for insureds who have Cyber Cover or Internet Banking Liability.

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