News & Analysis as of

Federal Financial Institutions Examination Council Risk Assessment

GeoDataVision

The Importance of Assessment Areas

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In the podcast, Len Suzio from GeoDataVision LLC and Dean Stockford of M&M Consulting delve into the topic of CRA (Community Reinvestment Act) Assessment Area delineation. Len emphasizes the critical importance of banks...more

Foodman CPAs & Advisors

CDD Friendly Reminder From The Agencies To The Banks

On 7/6/22, the Agencies (Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network, the National Credit Union Administration, and the Office of the...more

Cozen O'Connor

FFIEC Updates Guidance to Financial Institutions for Authentication and Access

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The Federal Financial Institutions Examination Council (FFIEC), an interagency body of leading financial regulators, including the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency,...more

Baker Donelson

FFIEC Updates Its Guidance on Authentication and Access Controls: Key Takeaways Financial Institutions Should Implement Now

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On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC), the multi-agency authority responsible for issuing uniform principles and standards for supervision of financial institutions, published new...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Morrison & Foerster LLP

FFIEC Issues Updated Guidance On Authentication And Access To Financial Institution Services And Systems

On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC) issued new guidance, titled “Authentication and Access to Financial Institution Services and Systems” (“Guidance”), which provides examples of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Compliance in a Time of Crisis

Addressing the Evolving Risks - Warren Buffett said that “only when the tide goes out do you discover who’s been swimming naked.” Buffett was not talking about compliance programs in a time of crisis, but his wisdom applies...more

Ballard Spahr LLP

FFIEC finalizes revised consumer compliance rating system

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The Federal Financial Institutions Examination Council (FFIEC), whose members include the CFPB, has finalized guidance setting forth a revised uniform interagency consumer compliance rating system (CCRS).  The revisions...more

Robinson+Cole Data Privacy + Security Insider

Ukrainian bank loses $10 million in latest SWIFT cyber-attack

An unnamed bank in Ukraine is the most recent victim in a series of cyber-attacks exploiting vulnerabilities in the international banking communications system. According to an independent IT monitoring organization, hackers...more

Manatt, Phelps & Phillips, LLP

FFIEC Warns of Cyber Attacks

The Federal Financial Institutions Examination Council (FFIEC) reiterated the importance of banks protecting themselves from cyber attacks in a newly issued statement, urging financial institutions to "actively manage the...more

Spilman Thomas & Battle, PLLC

Cybersecurity: What You Must Know and What You Must Do

On February 1, 2016, the Federal Deposit Insurance Corporation (“FDIC”) published the Winter 2015 issue of Supervisory Insights. Not surprisingly, the first article dealt with the most important issue facing the financial...more

Womble Bond Dickinson

FDIC "Framework for Cybersecurity" Highlights How Financial Institution Information Security Programs Can Better Respond to...

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In February, 2016, the Division of Risk Management Supervision of the Federal Deposit Insurance Corporation (“FDIC”) published “A Framework for Cybersecurity.” The article provides a good “sanity check” for financial...more

Patterson Belknap Webb & Tyler LLP

OCC’s Cybersecurity Regulatory Expectations: A Call to Action

Not surprisingly, cybersecurity remains a top examination priority for the Comptroller of the Currency (“OCC”). And that means national banks and federal savings associations – and their leadership teams – should be prepared...more

Alston & Bird

Moody’s Identifies Cyber Risk As Key Factor in Credit Ratings

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In a report released November 23, Moody’s Investors Service announced that the implications of cyber threats could start taking a higher priority in its credit analysis. Moody’s said it views cyber threats as similar to other...more

Ballard Spahr LLP

FFIEC Tool Helps You Assess Cyber Risk

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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

Troutman Pepper

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

Troutman Pepper on

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

Manatt, Phelps & Phillips, LLP

FFIEC: Financial Institutions Need to Share Cyberthreat Information

Why it matters: Financial institutions of all sizes need to share cyberthreat information with each other, the Federal Financial Institutions Examination Council (FFIEC) urged based upon an assessment performed of the...more

King & Spalding

Maximum Cybersecurity: FFIEC Releases Cybersecurity Assessment

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On November 3, 2014, the Federal Financial Institutions Examination Council (“FFIEC”), an interagency body that prescribes principles and standards for the federal examination of financial institutions, released a set of...more

Davis Wright Tremaine LLP

Federal Financial Institutions Examination Council Releases Cybersecurity Assessment Results: Boards of Directors and Senior...

The Federal Financial Institutions Examination Council (FFIEC) released general observations yesterday from a cybersecurity assessment of over 500 community financial institutions. The cybersecurity assessment evaluated the...more

Ballard Spahr LLP

Federal Financial Regulators Issue Warning on ‘Shellshock’ Security Vulnerability

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The Federal Financial Institutions Examination Council (FFIEC) recently issued an alert warning financial institutions of a security vulnerability nicknamed “Shellshock” in software commonly used in servers and other...more

Katten Muchin Rosenman LLP

FFIEC Member Agencies and State of New York to Focus Attention on Cybersecurity

On May 7, the Federal Financial Institutions Examination Council (FFIEC) highlighted regulatory efforts to enhance financial institutions’ cybersecurity during a webinar for approximately 5,000 chief executive officers and...more

Goodwin

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

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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

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