the point q4
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SWACHA's newsletter - The Point Q4 2014TRANSCRIPT
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OCTOBER 2014
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
PRESIDENT’S CORNERSWACHA Continues to Find Ways to Lead the Electronic Payments Discussion with the 2nd Annual Executive Leadership Payments Summit
Payments are hitting the headlines on a regular basis these days—from major merchant breaches to, most recently, Apple Pay’s entry into the mobile payments space. But, what does it all mean for your institution and your customer relationships?
Finding the right balance between driving innovation and providing a safe payments environment is proving to be difficult for financial institutions. In fact, just staying ahead of the local, national and global issues that impact you is a challenge. SWACHA endeavors to help our members by raising awareness of these issues and fostering productive dialogue in the financial community, to drive better outcomes in terms of the policies and processes related to electronic payments.
To that end, we are bringing executives together at our annual Executive Leadership Payments Summit to introduce you to some of the industry’s experts and give you the opportunity explore opportunities that will shape the future of the electronic payments industry, as it undergoes dynamic change.
This is our second year hosting this event, and I am excited to reveal to you our lineup of topics and speakers that will join us on November 6 at the Irving Convention Center in Irving, Texas. We are pleased to have Gloria Colgan, PYMNTS.com; Erin Fonte, Cox Smith; and Dan Wood and Phillip Hinkle, with the Texas Department of Banking as featured speakers who will share their knowledge and help you address some difficult questions:
• Emerging technologies and generational preferences changing the face of consumer payments: How should your institution prepare?
• The pros and cons of EMV technology implementation: Is it the best approach for securing consumer payments?
• New entrants littering the payments landscape: Who will your institutions be competing with tomorrow?
• The transformation of the U.S. payments industry: Will technology, market demand and industry convergence lead to a completely new US payments platform?
We hope you will be able to join us for the 2nd annual Executive Leadership Payments Summit. We are confident it will leave you better positioned as you navigate your institution through the sea of changes occurring in today’s electronic payments industry. For more information about the 2014 Executive Leadership Payments Summit: Global Issues, Local Solutions, visit swacha.org or call 800-475-0585.
Warm regards,
Laura Steele Laura Steele, President and COO
News | Pg. 2
OCTOBER 2014
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
FEATURE
Federal Reserve Board Requests Comment on Regulation AA Proposal On August 22, 2014, the Federal Reserve Board issued a press release requesting comment on a proposal to repeal Regulation AA (Unfair or Deceptive Acts or Practices). The Dodd-Frank Act voided the Board’s authority to write rules that address unfair or deceptive acts or practices, which are contained in Regulation AA and now under control of the Consumer Financial Protection Bureau. Read More
“Merchant Processing” booklet of the Comptroller’s Handbook Replaced On August 20, 2014, the Office of the Comptroller of Currency issued Bulletin 2014-41 replacing the “Merchant Processing” booklet of the Comptroller’s Handbook... Read More
CFPB Finalizes Revisions to Remittance RulesOn August 22, 2014, the CFPB finalized revisions to the remittance rule that it had proposed in April, which ex-tended by five years an exception under the... Read More
Alert Issued Concerning “Backoff” Malware On July 31, 2014, the National Cybersecurity and Com-munications Integration Center, the Secret Service and third-party partners issued Alert (TA14-212A) concerning “Backoff” malware. The information was provided to... Read More
FEATURED
UPCOMING EVENTS
ACH Boot Camp – IntermediateAlbuquerque NM
OCT
14
OCT
17
OCT
17
ACH Rules Book Part 1 San Antonio, TX
ACH Rules Book Part 2 San Antonio, TX
NOV
06Executive Leadership Payments Summit Irving, TX
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
YouTube
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SWACHA
Apple turns iPhone 6 into Mobile Wallet with Apple Pay
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OCTOBER 2014
News | Pg. 3
NACHA Membership Approves New Rules to Further Improve ACH Network Quality NNACHA —The Electronic Payments Association® today announced its voting membership approved two new amendments to the NACHA Operating Rules that will fur-ther improve ACH Network... Read More
NEW SWACHA MEMBERS We proudly welcome the following organizations to the SWACHA family:
Security State Bank Pearsall, TX
America’s Credit Union Garland, TX
Red River Bank Alexandria, LA
Shreveport FCU Shreveport, LA
Horizon Bank, SSB Austin, TX
Prosperity Bank Sugar Land, TX
First Basin Credit Union Odessa, TX
Ouachita Independent Bank Monroe, LA
First Command Bank Fort Worth, TX
Irving City Employees FCU Irving, TX
News | Pg. 4
OCTOBER 2014
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
FEATURED
UPCOMING EVENTS
What are Bots, Botnets and Zombies? You have probably heard terms such as “bots,” “zombies,” and “botnets” in recent news stories about data breaches and other cyber security risks. But what exactly are they, how do they work, and what damage can they cause? A “bot,” short for “robot,” is a type of software application or script that performs tasks on command, allowing an attacker to take complete control remotely of an affected computer. The compromised machine may also be referred to as a “zombie.” A collection of these infected computers is known as a “botnet.” Read More
RISK MANAGEMENT
SWACHA Becomes National Cyber Security Awareness Month 2014 Champion Celebrated every October, National Cyber Security Aware-ness Month was created as a collaborative effort between government and industry to ensure everyone has the resources needed to stay safer and more secure online. Read More
FEATURED
UPCOMING EVENTS
ACH Boot Camp – IntermediateAlbuquerque NM
OCT
14
OCT
17
OCT
17
ACH Rules Book Part 1 San Antonio, TX
ACH Rules Book Part 2 San Antonio, TX
NOV
06Executive Leadership Payments Summit Irving, TX
News | Pg. 5
View All Meetings
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
Connect with
SWACHA
Like Us on Facebook
OCTOBER 2014
RISK MANAGEMENT Upcoming Events These fraud meetings address critical security and investigative issues and problems with the banking industry. The committee is designed to aid you in your battle against fraud, robberies, and other criminal activity.
Tips & Advice for Online Safety STOP. THINK. CONNECT.™ is the global cybersecurity awareness campaign to help all digital citizens stay saf-er and more secure online. The message was created by an unprecedented coalition of private companies, non-profits and government organizations with leader-ship provided by the... Read More
If merchants follow Apple’s new Apple Pay system, will you ditch your wallet for the convenience of a new system? #electronicpayments
Houston, TX October 14, 2014
Austin, TX October 28, 2014
FBI Day New Orleans October 29, 2014
FBI Day San Antonio November 13, 2014
Albuquerque, NM November 18, 2014
Houston, TX December 9, 2014
News | Pg. 6
OCTOBER 2014
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
EDUCATION
Payments Are Undergoing Dynamic Change, Are You Ready? There is much discussion about evolving consumer needs and whether legacy payment systems can accommodate a new generation’s ideas about accessing and using banking systems. It’s proving difficult for heavily regulated financial institutions to find the right balance between innovation and safety. Read More
Why Most Millennials Don’t Have A Credit Card Almost two-thirds of adults under age 30 currently have no credit cards at all, according to a new survey sponsored by Bankrate.com. While only 35 percent of adults age 30 and older have no credit cards, 63 percent of under-30 Millenni-als have none, 23 percent have... Read More
In Wake of Home Depot Breach, Banks See Spike in PIN Debit Card Fraud KrebsonSecurity is reporting that the card data for sale in the underground that was stolen from Home Depot shop-pers allows thieves to create counterfeit copies of debit and credit cards that can be used... Read More
FEATURED
UPCOMING EVENTS
ACH Boot Camp – IntermediateAlbuquerque NM
OCT
14
OCT
17
OCT
17
ACH Rules Book Part 1 San Antonio, TX
ACH Rules Book Part 2 San Antonio, TX
NOV
06Executive Leadership Payments Summit Irving, TX
News | Pg. 7
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
Connect with
SWACHA
Follow Us on Twitter
OCTOBER 2014
EDUCATION MEET YOUR ELPS SPEAKERS Industry leaders who are at the forefront of fostering change within electronic payments and experts who can provide the knowledge and inspiration to help us shape the future!
Gloria Colgan
Erin Fonte
Douglas King
Paul Tomasofsky
IRS says One Million Tax Payments Made in 2014 Through Direct Pay #ACH
CitiBank is the latest to introduce a #checkless account, with the launch of its new Access Account - http://on.mktw.net/1riy6MY #banking
Fraudulent transactions surface in wake of @HomeDepot breach -http://on.wsj.com/1smUUin
News | Pg. 8
OCTOBER 2014
SWACHA TALK
The Mark of Excellence Signifies that SWACHA - The Eletronic Payments Resource®, through its Direct Membership in NACHA, is a specially recognized and licensed provider of ACH education; publications and support.
General Inquiries swacha.org
Tel 214.438.4585 | Fax 214.438.4515 | 1999 Bryan, Suite 3600, Dallas, TX 75201
Our Mission To be the resource of choice for providing education, training, representation, and knowledge regarding electronic payments and payments system risks. We are dedicated to anticipating and meeting the needs of our constituents.
Payments Answerline™An Exclusive Member Benefit! [email protected]
Risk Management [email protected]
SWACHA Serviceswww.swachaservices.com
Training & Registration [email protected]
Resources & Publications [email protected]
News Pg. 2 Headline News Q4 2014
Pg. 3 New SWACHA Members
Risk Management
Pg. 4 Bots, Botnets and Zombies
Pg. 5 Risk Management Upcoming Events
Education
Pg. 6 Payments Are Undergoing Dynamic Change
Pg. 7 Meet Your ELPS Speakers
SWACHA Talk
Pg. 8 SWACHA Early Bird Sale
FEATURED
UPCOMING EVENTS
Early Bird Sale SWACHA Members stock up for 2015, at a discount! We will have NACHA Rules Books, Rules Books Tabs, WSUD Forms, and Stop Pay Forms available at a dis-count. Sale information will hit your inbox and SWACHA.org soon!!
ACH Boot Camp – IntermediateAlbuquerque NM
OCT
14
OCT
17
OCT
17
ACH Rules Book Part 1 San Antonio, TX
ACH Rules Book Part 2 San Antonio, TX
NOV
06Executive Leadership Payments Summit Irving, TX