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ICBA Policy Resolutions for 2013
Track I: Legislation and Regulation
TECHNOLOGY
Position
- ICBA supports a legal and regulatory framework coupled with an examination process and operational environment, that allow community banks to deploy new technologies without impeding innovation, and that permit community banks to fairly compete against other bank and non-bank financial services entities.
Background
Community banks depend on information technology to stay competitive, efficient, and profitable. Deployment of technology continues to alter the way that consumers and businesses conduct banking and commerce and influences the products that community banks offer. Additionally, technology deployment is altering the risk profile of community banks and subjecting them to myriad regulatory requirements and expanded oversight.
ICBA recognizes the role of the regulatory agencies in defining and identifying the risks of existing and emerging technologies for both community banks and their service providers. While the regulatory guidance is valuable to community banks for education and risk management, guidance should be crafted in a manner that does not hamper innovation or impose undue burden.
Staff contacts: Viveca Ware and Cary Whaley
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