Federal Financial Institutions Examination Council

News & Analysis as of

FFIEC Assessment Helps Financial Institutions Prevent Cyber Attacks

The Federal Financial Institutions Examination Council (FFIEC) recently issued an assessment tool meant to assist financial institutions in the detection of cybersecurity vulnerabilities and the prevention of cyber attacks....more

FFIEC Releases Cybersecurity Assessment Tool

Why it matters - As anticipated, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool, providing a process for financial institutions' management to gauge their...more

FFIEC Cybersecurity Assessment Tool: Not Just For Financial Institutions

On June 30, 2015, the Federal Financial Institutions Examination Council (FFIEC) released its long anticipated Cybersecurity Assessment Tool (press release here). The FFIEC is a formal interagency organization empowered to...more

FFIEC Releases Cybersecurity Assessment Tool

On June 30, 2015, the Federal Financial Institutions Examination Council (“FFIEC”), an interagency body that prescribes principles and standards for the federal examination of financial institutions, released a Cybersecurity...more

FFIEC Tool Helps You Assess Cyber Risk

The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more

FFIEC’s Cybersecurity Assessment Tool: Guidance for CEOs and Boards - Senior Management and Boards Should Be Actively Addressing...

The Federal Financial Institutions Examination Council (FFIEC) released a Cybersecurity Assessment Tool (CAT) on June 30, 2015, to assist organizations in identifying cyber risks and assessing their cybersecurity...more

FFIEC’s Cybersecurity Assessment Tool: Guidance for CEOs and Boards - Senior Management and Boards Should Be Actively Addressing...

The Federal Financial Institutions Examination Council (FFIEC) released a Cybersecurity Assessment Tool (CAT) on June 30, 2015, to assist organizations in identifying cyber risks and assessing their cybersecurity...more

FFIEC Releases Cybersecurity Assessment Tool

As previously covered in InfoBytes, on June 30, the FFIEC released a Cybersecurity Assessment Tool (Assessment) to provide a “repeatable and measurable process” for financial institutions to measure their cybersecurity...more

Financial Services Weekly News Roundup - July 2015

Regulatory Developments - FINRA Proposes Rule to Require Member Websites to Link to BrokerCheck: FINRA has proposed an amendment to FINRA Rule 2210 to require each of a member’s websites to include a readily...more

Is Your Financial Institution the Next Target of a Cyber-Attack?

In This Presentation: - Regulatory expectations for financial institutions - Risks for financial institutions - Planning to reduce risks - The Breach - Duties and responsibilities -...more

The Next Examination Enforcement Wave— Cybersecurity Assessments?

Why it matters - The member banking agencies of the Office of the Federal Financial Institutions Examination Council (FFIEC) will soon promulgate a “Cybersecurity Assessment Tool” for use by community banks after a pilot...more

FFIEC: Beware Cyber Attacks, Destructive Malware

Why it matters - In a pair of joint statements, the Federal Financial Institutions Examination Council (FFIEC) cautioned financial institutions about cyber attacks compromising credentials and destructive malware. The...more

OCC Comptroller Discusses Emerging Payment Systems Technology and Cybersecurity, FFIEC Set to Release Cybersecurity Assessment...

On June 3, in prepared remarks delivered at the BITS Emerging Payments Forum, OCC Comptroller Thomas Curry advised that as financial institutions continue to develop payment systems, banks need better preparation for...more

Federal Agencies Issue Final Rule on Standards for Appraisal Management Companies

The CFPB along with five other federal agencies have issued a final rule that establishes minimum state registration and substantive requirements for appraisal management companies (AMCs), as required by Section 1473 of the...more

The FFIEC Warns Financial Institutions of the Dangers of Cyberattacks Involving Destructive Malware

On March 30th, the Federal Financial Institutions Examination Council (FFIEC) issued two Joint Statements on behalf of its members to warn financial institutions about the threats posed to various credentials by cyberattacks...more

OCC Comptroller Curry Delivers Remarks on Easing Regulatory Burdens on Small Banks

On May 4, OCC Comptroller Thomas J. Curry delivered remarks at the third outreach meeting held under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) in Boston. Acknowledging that smaller banks lack...more

Cyber Attacks on Financial Institutions Increasing in Frequency and Severity

Cyber attacks on financial institutions have become so relentless in their frequency and severity, that the Federal Financial Institutions Examination Council (FFIEC) directed banks this past month to enhance their...more

We’re From the Government and We’re Here to Ease Your Regulatory Burden

Why it matters - The Office of the Comptroller of the Currency (OCC) is trying to make life easier for community banks, Comptroller Thomas J. Curry recently explained in a speech, working on legislation that would...more

Federal Banking Regulators Expand Scope of EGRPRA Review

On April 6, the Federal Reserve, OCC, and FDIC (Agencies) revealed that their ongoing regulatory review under the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA) will now be expanded to include...more

FFIEC’s Seven Cybersecurity Priorities for 2015

While others were waiting for spring to arrive, community bank officers and directors were waiting for the Federal Financial Institutions Examination Council (FFIEC) to provide additional guidance on its cybersecurity...more

FFIEC Releases Statements on How Financial Institutions Can Identify and Mitigate Cyber Attacks

On March 30, the FFIEC announced two separate statements regarding cyber attacks at financial institutions: Statement on Destructive Malware and Statement on Compromising Credentials. The statements come in light of the...more

Federal Financial Regulators Offer Advice To Address Malware, Compromised Credentials

In its recent press release, the Federal Financial Institutions Examination Council (FFIEC) issued two statements reiterating financial institutions' obligations to have measures in place to prevent and mitigate cybersecurity...more

FFIEC Provides Overview of Cybersecurity Priorities

On March 17, the FFIEC released a summary of its cybersecurity priorities for the remainder of 2015. The FFIEC intends to enhance its cybersecurity preparedness in seven main ways: (i) issuing a cybersecurity self-assessment...more

SEC Releases Results of Cybersecurity Exam Sweep

We’re a bit behind on this, but better (a little bit) late than never. Last month the SEC’s Office of Compliance, Inspections and Examinations released the first results of its Cybersecurity Examination Initiative, announced...more

Privacy Tuesday – March 2015: How is Your Cyber Resilience?

Welcome to March (and in the Northeast, the arrival of meterological spring is welcome indeed……) We start this month with a question: Have you looked at your cyber resilience?...more

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