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ICBA Welcomes Standardized Approach to Cyber Preparedness

Washington, D.C. (Aug. 29, 2019)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Federal Financial Institutions Examination Council’s announcement on cybersecurity preparedness.

“ICBA welcomes the Federal Financial Institutions Examination Council’s announcement emphasizing the benefits of using a standardized approach to assess and improve cybersecurity preparedness. As ICBA has long said, the regulatory agencies should not mandate the use of one cybersecurity assessment tool over another.

“By encouraging institutions to choose from various standardized tools aligned with industry standards and best practices to assess their cybersecurity preparedness, federal regulators have advanced a long-standing ICBA and community bank priority. Community banks are leaders in defending against cyber threats and use a multitude of cybersecurity frameworks, tools and assessments to secure their critical systems and safeguard customer data.

“ICBA looks forward to continuing to work with policymakers on collaborative approaches to mitigate cyber and data security threats.”

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