ABA Banking Journal - September 2011 - (Page 6)

ABA ChAirmAn’s view | by steve wilson One 9/11 legacy: a better-prepared industry Ten years ago this month, our nation was shaken to the core by the brutal terrorist attack on America. Just as our parents and grandparents remember where they were when they learned about the attack on Pearl Harbor, we remember where we were when we heard that hijackers had flown commercial jets into the World Trade Center, the Pentagon, and a field in Pennsylvania. It changed the way we live and the way we travel. And because of the vital role that banking plays in our economy, there have also been changes in banking. We are better prepared as an industry today for both natural and manmade disasters. ABA and banks have made sure of that, going above and beyond in the last decade to enhance awareness of preparedness issues and provide useful tools. ABA’s Toolbox on Emergency Preparedness (available on aba.com) is just one example. Our activities on the national scale are conducted through the Financial Service Sector Coordinating Council. It works with federal agencies to strengthen the resiliency of the financial services sector by identifying threats, promoting protection, preparedness, and coordinating crisis response. Doug Johnson, VP/senior advisor for risk management, represents ABA on the FSSCC executive committee. The federal financial institution regulatory agencies have also responded, organizing the Financial and Banking Information Infrastructure Committee to work together and with the industry to improve the reliability and security of financial information and provide coordination in an emergency. Twenty-four financial services regional coalitions have been created since 2001. ABA supported their development, working with Wayne Abernathy, who was then an assistant secretary of the Treasury and is now ABA’s EVP for Financial Institutions Policy and Regulatory Affairs. These coalitions have formed the Regional Partnership Coalition FIRST, the acronym for “financial industry resilience, security and teamwork.” They share lessons on coordinating with state and local governments, participate in homeland security policymaking and promote business continuity. The Northern Ohio FIRST began operations 18 months ago in the Cleveland area. I strongly urge bankers to get involved in their local coalition or start one if it does not exist. What all this means is a higher level of communication across our industry, and with our regulators, law enforcement, and emergency responders. We’re better prepared to deal with natural or man-made disasters. And it’s created a better appreciation for the vital role that bankers play in our nation’s economy and its security. u Bankers also play a vital role in promoting financial literacy. On Oct. 20 and throughout the month, bankers across the country will be going into classrooms to teach young people about the adult responsibility of managing credit. It’s one of several financial education programs sponsored by the ABA Education Foundation (www.aba.com/ ABAEF) that is making a difference. n C M Y CM MY CY “Sept. 11, 2001 changed the way we live and the way we travel. It also changed banking” — Stephen P. Wilson, Chairman and CEO, LCNB National Bank, Lebanon, Ohio CMY K 6  |  ABA BANKING JOURNAL  |  september 2011 http://www.aba.com http://www.aba.com/

Table of Contents for the Digital Edition of ABA Banking Journal - September 2011

ABA Banking Journal - September 2011
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
ABA Community Banking
Pass the Aspirin
Tech Topics
Cover Story: Mobile money at stake
Insurance revival
The long and short of annuities
Compliance Inbox
ABA Resources
ABA Annual Convention
First Person

ABA Banking Journal - September 2011

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