News & Analysis as of September 25, 2024

Federal Financial Institutions Examination Council

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

2017 Resolutions for Community Banks: A Focus on Cybersecurity

Hogan Lovells on 1/13/2017

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

FFIEC Provides Concrete Guidance on Setting Up Information Security Programs

Ballard Spahr LLP on 9/14/2016

The Federal Financial Institutions Examination Council (FFIEC)—the interagency body tasked with setting uniform principals and standards for the examination of financial institutions by federal prudential regulators,...more

Recent Government Cyber Alert and Draft Guide for Financial Institutions: Lessons for All Organizations

Baker Donelson on 11/5/2015

All organizations, including financial institutions, continue to face significant security threats across their wide ranging IT systems. Such organizations are particularly vulnerable if they cannot track networked devices...more

Six Steps Banks Should Implement to Ensure Their Security Procedures are Commercially Reasonable

Adams and Reese LLP on 10/23/2015

Banks are tasked by the Uniform Commercial Code (the UCC) with using “commercially reasonable” security procedures when processing funds transfers. This responsibility is constantly evolving as bank fraud becomes more...more

FFIEC Weighs in on Cybersecurity in Light of Unprecedented Risk of Cyber Threats

Carlton Fields on 10/7/2015

As financial institutions of all sizes continue to face unprecedented cybersecurity risk, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool. The Assessment is...more

Protecting financial institutions in cyberspace—U.S. financial regulators come up with a new tool kit to stem cyberthreats

Robinson+Cole Data Privacy + Security Insider on 8/24/2015

The Federal Financial Institutions Examination Council (FFIEC) has recently developed a new tool to help U.S. financial institutions combat the increasing volume and sophistication of cyber attacks. To blunt threats to a...more

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