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ICBA Statement on the President’s Cybersecurity National Action Plan

Washington, D.C. (Feb. 9, 2016)—The Independent Community Bankers of America® (ICBA) issued this statement today following President Obama’s release of his Cybersecurity National Action Plan.

“ICBA appreciates the President’s strong commitment to cybersecurity awareness and protection through his Cybersecurity National Action Plan and applauds the passage of the Cybersecurity Information Sharing Act of 2015, which is a strong step towards improving our defenses against cyber-threats by encouraging businesses and the government to share cyber-threat information more quickly and efficiently between sectors. 
“Community banks are on the front lines of defending against cyber-threats and take their role in securing data and personal information very seriously. Wide-scale threats and breaches have the potential to jeopardize consumers’ financial integrity and confidence in the payments system. This confidence is vital to sustaining consumer spending necessary for the economic recovery. Subjecting all entities handling sensitive personal information to security standards, similar to the Gramm-Leach-Bliley Act, would ensure a comprehensive approach to minimizing cyber-threats to all industries and participants and securing consumers’ private information. ICBA urges passage of the Data Security Act of 2015 to achieve these objectives.  
“Today’s initiative can further facilitate a robust collaboration across industries and sectors and enable a better understanding of key cybersecurity interdependencies between the government and private sector. ICBA urges the Administration and implementing agencies to partner with community banks as well as other financial services industry participants to help strengthen the cybersecurity posture of not only the nation as a whole, but of the different industries as well.” 

About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,000 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services.

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