Agency
FFIEC
12 published works
NextGen Financial Services Report
An Enhanced Standard of Commercial Reasonableness for Security Procedures? The FFIEC Updates Its Authentication Guidance for Internet-Based Financial Services
By Scott R. Fryzel, Lindsay S. Henry, Lauren E. Quigley
On August 11, 2021, the Federal Financial Institutions Examination Council (the “FFIEC”) issued new guidance on risk management principles for access to and authentication of electronic funds transfers for the first time…
The Fintech Report
Fintech Week in Review: Week of August 7th, 2020
Weekly Fintech Focus The Federal Reserve is quickly moving up its timeline for the launch of its real-time payment service. FinCEN issues new FAQs to clarify that covered financial institutions…
Consumer Finance Monitor
FFIEC Issues Joint Statement on Additional Loan Accommodations Related to COVID-19
On August 3, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) issued a joint statement to provide prudent risk management and consumer protection principles for financial institutions to consider when…
The Fintech Report
Fintech Week in Review: Week of May 1, 2020
Weekly Fintech Focus The FFIEC issued new guidance to financial institutions with recommendations for effective risk management strategies when using cloud computing services. The GAO is encouraging bank regulators to…
The Fintech Report
Fintech Week in Review: Week of April 24, 2020
Weekly Fintech Focus FFIEC updates the BSA/AML Examination Manual. FFIEC releases APR and APY computational tools. State AGs request CFPB Director to withdraw COVID‑19 credit reporting guidance. RevenueWire settles FTC…
Financial Services Perspectives
Update March, 18 2020: Financial Services Licensing and Compliance Obligations and COVID-19
As members of the financial industry prepare to meet the challenges associated with COVID-19, key government agencies have begun to offer guidance with respect to how their regulated financial institutions,…
Consumer Finance Monitor
New HMDA Guide Issued by the FFIEC
The Federal Financial Institutions Examination Council (FFIEC) has just issued an updated version of The Guide to HMDA Reporting: Getting It Right! The Guide reflects the extensive changes to the…
Southeast Financial Litigation Monitor
Assessing Your Cybersecurity Preparedness: It May Be Time to Update Your Bank’s Information Security Plan and Response Program
With increased oversight, regulatory scrutiny and risk related to cybersecurity, now is the time for those in the banking industry to be proactive in managing cybersecurity risk. Waiting until a…
Data Protection Report
Cybersecurity Efforts Turn Focus to Financial Institutions, Technology Service Providers and “Cyber Resilience”
Financial institutions around the country recently received cybersecurity guidance in the form of a new appendix to the Federal Financial Institutions Examination Council’s (“FFIEC’s”) Business Continuity Planning Booklet, which is…
Bank Law Monitor
Regulators Warn Banks about “Shellshock” Virus
By Faye Ricci
On September 26, 2014, the Federal Financial Institutions Examination Counsel (FFIEC) warned financial institutions to quickly address a “Shellshock” vulnerability that affects a common software tool that is found in…