Federal Financial Institutions Examination Council

News & Analysis as of

FFIEC Advises Financial Institutions On “Heartbleed” Risks

On April 10, the FFIEC issued an alert advising financial institutions of risks associated with “Heartbleed”, a recently discovered material security vulnerability in a commonly used encryption method known as the OpenSSL...more

FFIEC Advises Banks On Website, ATM Cyber Attacks

On April 2, the FFIEC advised financial institutions that distributed denial-of-service (DDoS) attacks on a financial institution’s public websites present operational and reputation risks. If coupled with attempted fraud, a...more

FFIEC Issues Joint Statements on DDoS Cyber-Attacks and Cyber-Attacks on ATM and Card Authorization Systems

On April 2, 2014 the members of the Federal Financial Institutions Examination Council (“FFIEC”) issued two joint statements: the first joint statement regards distributed denial-of-service (“DDoS”) attacks, and the second...more

Did You Miss It? Important New Guidance for Financial Institutions Using Social Media

At the end of last year, the members of the Federal Financial Institutions Examination Council (FFIEC), published final supervisory guidance titled “Social Media: Consumer Compliance Risk Management Guidance.” Financial...more

Social Media Compliance Issues for Community Banks

Andy Campbell presented “Social Media Compliance Issues for Community Banks,” a look at the benefits and risks for banks cultivating a social media presence. Andy’s presentation included discussion of: - regulatory...more

Socially Aware - Volume 5, Issue 1 - January/February 2014

In This Issue: FFIEC Issues Final Guidance on Social Media Usage by Financial Institutions; Uncovering a Line in the Sand: Employee Social Media Use and the NLRA; Website Operators Await Final Guidance Regarding...more

FFIEC Revises Items to Be Reported on Call Reports; Items Include Remittances and Websites Soliciting Deposits

On January 24, the Federal Financial Institutions Examination Council (FFIEC) announced that it has approved several revisions to the Consolidated Reports of Condition and Income (Call Report) for implementation as of March...more

Corporate and Financial Weekly Digest - Volume IX, Issue 4

In this issue: - ISS Updating QuickScore Methodology and Opening Data Validation Period - First MAT Determinations Are Deemed Certified - CFTC Interdivisional Working Group to Review Swap...more

FFIEC Finalizes and Clarifies Its Social Media Policy

The Federal Financial Institutions Examination Council (FFIEC) recently released its final supervisory guidance on social media use. In January 2013, we wrote about the FFIEC’s proposed guidance in connection with the...more

Financial Services Law -- Jan 17, 2014

Community Banks and the Volcker Rule: What’s Next? - For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more

FFIEC Issues Social Media Guidance: Social Media Channels Present Privacy Compliance Challenges

If you are using social media to attract and interact with customers, you should review the recent supervisory guidance from the Federal Financial Institutions Examination Council (FFIEC). The guidance, titled “Social Media:...more

FFIEC Issues Final Guidance on Social Media Usage by Financial Institutions

On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) issued final guidance for financial institutions relating to their use of social media (the “Guidance”). With its release, the FFIEC adopts...more

Federal Reserve Adds to Agency Guidance on Third Party Relationships

On Dec. 5, 2013, the Federal Reserve joined the list of regulatory agencies that have issued guidance on third party relationships. The Fed guidance supplements the FFIEC Outsourcing Technology Services Booklet (June 2004)...more

Social Media for Financial Institutions – Final Guidance

At the end of 2013, the Federal Financial Institutions Examination Council (FFIEC) became the latest regulator to weigh in on social media and offered their final social media guidance. The proposed regulation was released...more

FFEIC Releases Guidance on Applicability of Consumer Protection Laws to Social Media

The Federal Financial Institutions Examination Council, which is comprised of the OCC, FRB, FDIC, NCUA, CFPB, and a state liaison committee, issued guidance addressing the applicability of federal consumer protection laws to...more

FFIEC Releases Final Guidance For Financial Institutions Using Social Media

The Federal Financial Institutions Examination Council (the “FFIEC”) has released final guidance addressing the applicability of federal consumer protection and compliance laws, regulations, and policies to activities...more

Banking Regulators Finalize Social Media Guidance

On December 11, the FFIEC, on behalf of the CFPB, the FDIC, the OCC, the Federal Reserve Board, the NCUA, and the State Liaison Committee, released final guidance on the applicability of consumer protection and compliance...more

FFIEC Releases Social Media Guidance for Financial Institutions

The Federal Financial Institutions Examination Council (FFIEC) has issued guidance for financial institutions’ use of social. According to the FFIEC, the guidance is advice and does not enforce any new obligations on...more

On the 10th Day of Privacy, my employer gave to me …..

And, no — it was not a big fat bonus. On this 10th Day of Privacy, we look ahead at employment related privacy issues …. As use of social media and other technologies continue to raise serious employment-related...more

FFIEC Social Media Guidance Addresses "Reputational Risks" from Social Media

Financial Institutions Should Develop Policies and Practices to Address and Monitor Reputational and Operational Risks - On December 10, 2013, the Federal Financial Institutions Examination Council (FFIEC) issued its...more

Are You A Financial Institution Offering Services Through Social Media? Read This

The Federal Financial Institutions Examination Council (“FFIEC”) issued final Guidance on December 11, 2013 concerning the risks faced by banks, savings associations, and credit unions when offering their services through...more

FFIEC Issues Guidance Concerning Applicability of Federal Consumer Protection and Compliance Laws, Regulations and Policies to...

On December 11, 2013, the Federal Financial Institutions Examination Council (the “FFIEC”), on behalf of its members (the OCC, FRB, FDIC, NCUA and the Consumer Financial Protection Bureau (“CFPB”)), released final guidance...more

Social Media: Consumer Compliance Risk Management Guidance

On December 11, 2013, the Federal Financial Institutions Examination Council (FFIEC) released final guidance (“Guidance”) on the applicability of consumer protection and compliance laws, regulations, and policies to...more

When Microsoft Stops Supporting Windows XP, Will Your Bank Be At Risk?

The six agencies which make up the Federal Financial Institutions Examination Council (“FFIEC”) have issued a joint statement cautioning financial institutions and their technology service providers regarding Microsoft’s...more

FFIEC Warns on Windows XP

On October 7, the Federal Financial Institutions Examination Council (FFIEC) issued a joint statement alerting financial institutions that the discontinuation of support (also known as “end of life”) for the Microsoft Windows...more

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