Magazine article American Banker

FloridaFIRST Gives Itself a Passing Grade in Wilma Test

Magazine article American Banker

FloridaFIRST Gives Itself a Passing Grade in Wilma Test

Article excerpt

Hurricane Wilma was FloridaFIRST's inaugural test.

Though the coalition of eight southeast Florida banks was still in its infancy when the storm was swirling off the Florida coast, Wilma was just the kind of event it was created for.

For days before the storm made landfall on Oct. 24, FloridaFIRST banks participated in daily conference calls with the Department of Homeland Security, the Treasury Department, the Florida Bankers Association, and local law enforcement officials. The calls provided FloridaFIRST officials with the best available intelligence on the storm's path, and it was quickly disseminated to member banks.

Gil Goodman, a vice president at the $11.3 billion-asset BankUnited Financial Corp. in Coral Gables and a member of FloridaFIRST's executive board, said the coalition gives local and federal agencies a single point of contact during emergencies.

"They're not going to 500 institutions one at a time," Mr. Goodman said.

The Treasury Department has been a vocal advocate for such coalitions since the creation of ChicagoFIRST in July 2003.

"The idea of a regional coalition is a key part of our strategy to protect the financial services industry," said Scott Parsons, a deputy assistant secretary for the Treasury Department's office of critical infrastructure protection and compliance policy.

FloridaFIRST evolved from a March 2005 meeting between the Treasury Department, the Florida Bankers Association, and a group of Florida bankers. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.