Independent Banker - October 2018 - 35

Community banks with customers
living or traveling in the European
Union are subject to the EU's General
Data Protection Regulation (GDPR).
What is GDPR, and why
should you care?
Compliance
Could the EU's recently
implemented consumerprivacy
regulation soon touch your shores?
Here's what you need to know. By Mary
Thorson Wright
Quick stat
lobal data protection.
That's a lot to wrap your head around. But
under a new set of rules enacted by the European
Union (EU), U.S. community banks may need to
broaden their view of the risk associated with collecting
and storing personal data.
On May 25, 2018, compliance became mandatory
for the EU's General Data Protection
Regulation (GDPR). The GDPR sets new standards
around protecting and using customer
G
80%
Poll respondents
who considered
lost banking and
financial data a
top concern
data, and consumers' rights regarding their data.
" Data protection is more important than ever,
and people are more aware and more sensitive
about the privacy of their fi nancial and personal
information, " observes Prabhash Shrestha, ICBA
executive vice president and chief digital strategy
offi cer. " The growing list of high-profi le companies
suff ering data breaches that are in the
headlines, such as Target and Home Depot, and
Facebook's recent misuse of customer data continue
to heighten data security concerns. "
In an RSA survey conducted Dec. 15, 2017,
through Jan. 3, 2018, 80 percent of respondents
said lost banking and fi nancial data is of top concern,
76 percent said they were worried about
lost security information, and 72 percent cited
independentbanker.org Q 35

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Independent Banker - October 2018

Table of Contents for the Digital Edition of Independent Banker - October 2018

Table of Contents
Independent Banker - October 2018 - Intro
Independent Banker - October 2018 - Cover1
Independent Banker - October 2018 - Cover2
Independent Banker - October 2018 - Table of Contents
Independent Banker - October 2018 - 2
Independent Banker - October 2018 - 3
Independent Banker - October 2018 - 4
Independent Banker - October 2018 - 5
Independent Banker - October 2018 - 6
Independent Banker - October 2018 - 7
Independent Banker - October 2018 - 8
Independent Banker - October 2018 - 9
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Independent Banker - October 2018 - 35
Independent Banker - October 2018 - 36
Independent Banker - October 2018 - 37
Independent Banker - October 2018 - 38
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Independent Banker - October 2018 - 40
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Independent Banker - October 2018 - 50
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Independent Banker - October 2018 - 70
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Independent Banker - October 2018 - Cover3
Independent Banker - October 2018 - Cover4
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