Events FDIC Regulation Security 
CFPB Monitor
DECEMBER 2, 2021
As anticipated, the OCC, Federal Reserve Board, and FDIC recently approved and released the Final Rule Requiring Computer-Security Incident Notification (“Final Rule”). The Final Rule is designed to promote early awareness and stop computer security incidents before they become systemic.
CFPB Monitor
APRIL 28, 2022
As the number and frequency of cyber attacks continue to grow, regulators have attempted to enhance cybersecurity protections via increased and more rigid incident reporting obligations, leading to a constantly shifting regulatory patchwork of varying disclosure and timing obligations. Status/Effective Date.
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CFPB Monitor
DECEMBER 22, 2020
Additionally, service providers to banking organizations would be required to notify at least two individuals at affected banking organization customers immediately after the bank service provider experiences a computer-security incident that it believes in good faith could disrupt, degrade, or impair services provided for four or more hours.
Independent Banker
OCTOBER 1, 2022
We explore how it can protect banks against financial losses and provide resources in the event of a cyber attack. Cyber insurance not only provides financial reimbursement for losses; it also equips the insured with access to a list of preapproved incident response experts that are required to help the bank manage a cyber event.
South State Correspondent
MARCH 15, 2023
Now, customers and analysts will pay more attention to Loans + Securities-to deposit ratio. Instead of just looking at LTD, investors, and depositors, will now look at loan plus securities to total deposits. Recent events have increased and made customers more sensitive to safety, service, and convenience instead of rate.
PYMNTS
SEPTEMBER 30, 2020
It would instead offer payment companies a national servicing platform to replace the regime of state regulations such firms would be subject to under existing laws. Commercial companies accessing a payments charter would avoid oversight and regulations that protect the financial system and consumers,” the bank industry leaders wrote.
Abrigo
FEBRUARY 8, 2024
Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. While fraud detection software and robust security measures are essential, educating clients on fraud prevention is equally important.
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