What Do the FFIEC IT Handbook Updates Really Mean?

Strategically Speaking

On June 30, 2021, the FFIEC issued a new booklet in the FFIEC Information Technology Handbook (IT Handbook) series entitled, “Architecture, Infrastructure, and Operations” (AIO).

Updated FFIEC IT Examination Handbook: What's Changing? Part 2

Strategically Speaking

Considering that the Federal Financial Institutions Examination Council (FFIEC) Information Technology Examination Handbook (IT Handbook) on “Operations” was last updated in July 2004, it should come as no surprise that a lot has changed over the past 17 years.


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How To Create A High Performing Bank With An Employee Handbook

South State Correspondent

Your bank employee handbook is probably a snooze-fest. If you are like most banks, your employee handbook was likely cobbled together from a template given to you by a third-party human resources firm or a revision of another bank’s handbook. Chances are your handbook is about as inspiring as refrigerator instructions Let’s be honest.

The Essential AI Handbook for Leaders: book review, and your free copy


The Essential AI Handbook for Leaders“ is a book that tells us about the potential of AI, explains its fundamental principles, and teaches us how to get value from it. Undoubtedly, AI is already altering the world and raising important questions for society, the economy, and governance.

Three More Changes to Make to HR Handbook

New York's State of Mind

Good Afternoon Folks, Sorry for the delay but the morning got away from me. As much as I would love to dedicate space to the disclosure of the CapitalOne data breach I still have to get you updated on some HR bills signed by the governor recently that will have a direct operational impact on […]. HR New York State technology A.5308 Capital One Hairstyle interview

New Exam Handbook Sparks Fears of Higher Bar for Small Banks

American Banker

A new exam handbook released by the Office of the Comptroller of the Currency is sparking concerns that the agency is quietly expanding heightened regulatory guidelines meant for larger banks to smaller institutions. community-banking occ law-regulation

5 Mind Blowing Concepts In Culture Banks Can Immediately Use

South State Correspondent

Earlier this week ( HERE ), we highlighted how an employee handbook can have a colossal impact on culture that can radically alter your bank’s trajectory. We showed employee handbook examples from Netflix, Zappos and Nordstrom to demonstrate how their cultural tone can be leveraged into a strategic difference We talked about how culture alone allowed Zingerman’s, a little Michigan deli, to have a worldwide following.

Older workers need not apply. Heck, they’re not even seeing many job ads on Facebook, lawsuit alleges.

ABA Community Banking

Hundreds of large employers, including Amazon, T-Mobile US, and Cox Communications allegedly engaged in the unlawful practice of excluding older workers from receiving job ads on Facebook for open positions at their companies, claim the Communications Workers of America (CWA) and three workers. Together with powerhouse law firm Outten & Golden, they filed this class action lawsuit yesterday in California. More on the lawsuit.

How to become a Digital Bank

ABA Community Banking

Book Review: Handbook suits both Digital Aliens and Digital Natives Management Lines of Business Technology Core Systems Vendor Management Blogs Books for Bankers. 1Books for Bankers

Why fintechs outperform FIs in offering a meaningful mobile experience

ATM Marketplace

While that might sound like something out of the cliché handbook, it's a real problem that traditional providers continue to tackle without resounding success FIs need to find a way to create and maintain meaningful relationships with customers.

The LEI mechanism implementation: Next steps explained


The LEI Handbook, Exchange Data's Guide to Financial Codes, written by economist and Harvard trained Ozren Cvjetic, has recently been published. bobsguide sat down with the author to discuss the major themes covered in the book. Does your academic background provide you with unique

By the Books: Regulatory Expectations

ABA Community Banking

Regulatory principles and practices for business continuity management are spelled out in a booklet in the Federal Financial Institutions Examination Council’s IT Examination Handbook.

An ATM business built on big ideas — and brotherhood

ATM Marketplace

If there were a handbook titled "ATM Business-building for Dummies," Rule No. 1 probably would be "NEVER go into business with family." But the band of brothers who founded Grant Victor would argue that it's family bonds that form the bedrock of their ATM company

FFIEC Cybersecurity Maturity Assessment Tool

Cisco CSR

The assessment applies principles of the FFIEC IT Handbook and the NIST Cybersecurity Framework. The FFIEC has released a mapping of the Cybersecurity Assessment Tool and the NIST Cybersecurity Framework to the FFIEC IT Handbook.

CMB Ushers China Into Blockchain eInvoicing


In May, President Xi Jinping stated that blockchain remains a “breakthrough” technology, while a handbook also appeared, geared toward educating government officials on blockchain. China Merchants Bank ( CMB ) announced that it has become the first bank in the country to issue blockchain electronic invoices. According to China Knowledge , the news comes just one month after the bank revealed its intention to launch a blockchain eInvoice.

Preparing for the Worst, Hoping for the Best

New York's State of Mind

Maybe it’s because the desolate Albany landscape with its frozen mounds of exhaust-tinged snow and sub-zero temperatures makes me feel like I’m inhabiting a post-apocalyptic world, but a couple of days ago I got around to reading the FFEIC’s new appendix to its examination handbook dedicated to disaster preparedness entitled Strengthening the Resilience of Outsourced […].

Federal and State Banking Regulators Issue New Examination Procedures on Sampling Methodologies, UDAP/UDAAP, and CARES Act

CFPB Monitor

On May 26, 2020, the OCC issued a significantly revised Sampling Methodologies booklet to be included in the Comptroller’s Handbook. Recently, the federal banking regulators issued four new sets of examination procedures.

HUD Announces Suspension of Effective Date for New Down Payment Assistance Requirements

CFPB Monitor

HUD also advises that mortgagees may continue to follow the guidance in HUD Handbook 4000.1 As previously reported , recently a US District Court granted a preliminary injunction preventing the US Department of Housing and Urban Development (HUD) from implementing new requirements for government-provided down payment assistance in connection with FHA insured loans.

China’s Move To Embrace Blockchain


Government officials have even been given handbooks on how blockchain works and can be deployed. For China , cryptos are anathema, while the blockchain is to be embraced, or so it seems in light of recent policy and project announcements. China has grappled with cryptos , eying them with suspicion amid speculative trading that has seen both fortunes made and lost.

America’s AI Bill of Rights is the Right Idea – and It’s About Time

Fico Collections

As I looked through the AI Bill of Rights handbook I thought, “It’s about time to more formally elucidate the protections citizens should have from companies’ use – and misuse – of AI.” A handbook for AI advocacy groups.

CFPB Issues Updated CHARM Booklet

CFPB Monitor

The CFPB recently announced the availability of an updated Consumer Handbook on Adjustable Rate Mortgages , often referred to as the “CHARM booklet.”

Important Considerations When Growing the CRE Portfolio


The OCC Comptroller’s Handbook on CRE lending is careful to point out that CRE lending brings a unique take on other common lending risks, such as credit, interest rate, liquidity, operational, compliance, strategic and reputational risks. In a survey of community banks and credit unions at the 2016 Sageworks Risk Management Summit, 42 percent of respondents said Commercial Real Estate, or CRE, lending was their primary focus for loan portfolio growth.

HUD says “no” to DACA recipients

CFPB Monitor

HUD policy, currently reflected in HUD Handbook 4000.1 , provides that “[n]on-U.S. For some time the mortgage industry, without success, has asked the US Department of Housing and Urban Development to provide a clear answer to the question of whether Deferred Action for Childhood Arrival (DACA) recipients are eligible for FHA loans. HUD finally provided a clear answer in responding to an inquiry from Representative Pete Aguilar (D-CA): “DACA recipients remain ineligible for FHA loans.”.

DACA Status Recipients Now Eligible for FHA Mortgage Loans

CFPB Monitor

The FHA mortgage loan eligibility for such individuals is based on HUD waiving the following provision in HUD Handbook 4000.1: “Non-US citizens without lawful residency in the U.S. In a subsequent update to the FHA Handbook the language will be removed.”. The U.S.

CFPB Finalizes Ability to Repay/Qualified Mortgage Rules

CFPB Monitor

5 of the FHA’s Single Family Housing Policy Handbook, issued October 24, 2019; Chapter 4 of the VA’s Lenders Handbook, revised February 22, 2019; Chapter 4 of the USDA’s Field Office Handbook for the Direct Single Family Housing Program, revised March 15, 2019; and.

The Big Spike In ‘CEO Fraud’


That’s an unfortunate but in some ways impressive record, considering that most BEC/EAC fraud relies on what the FBI referred to as “the oldest trick in the con artist’s handbook: deception.”.

Fraud 212

Today’s Cyber Risk Management

Cisco CSR

The FFIEC issued an update for US banks to the Architecture, Infrastructure, and Operations Examinations Handbook , as well as guidance for Authentication and Access to Financial Institution Services and Systems.

Personal Loan Offers With Zero Processing Fee


Additional Reading: Personal Loan Handbook: All Questions Answered. Need urgent cash? Fret not! We’ve compiled a list of Personal Loans that offer zero processing fees and have a quick approval process. Read on.

Walmart Goes Upscale Online


One of the principles of the still-in-progress omnicommerce handbook is that, in an ideal world, inventory is a fluid commodity that flows across channels as easily as revenue does into retailers’ pockets. That’s obviously not always the case, and Walmart is seeing what happens if it breaks that rule in a major way.

Online 100

The FCA Is Proposing Changes To Help Victims Of APP Fraud


The FCA wants to require firms to handle the complaints in line with the complaint handling rules laid out in the FCA handbook. The Financial Conduct Authority (FCA) of the U.K. on Tuesday (June 26) announced it is proposing changes to complaint handling rules to help victims of authorized push payment (APP) fraud.

How much should you segment FAS 5 (ASC 450-20) pools?


As stated in the Comptroller’s Handbook, “Effective management of the loan portfolio and the credit function is fundamental to a bank’s safety and soundness.” The Comptroller’s Handbook also states that an institution must understand “the portfolio’s product mix, industry and geographic concentrations, average risk ratings and other aggregate characteristics.”

Solving the Fintech Vendor Due Diligence Conundrum

Celent Banking

Federal Financial Institutions Examination Council’s (“FFIEC”) IT Examination HandBook detailing what sorts of due diligence a bank should conduct on its third party service provider, there’s still room for interpretation when deciding how more inexperienced banks should deal with those responsibilities. Banks are ultimately responsible for all of the services that they provide, even when they contract with third parties to help them deliver those services.

HUD Throws in the Towel on Down Payment Assistance Revisions

CFPB Monitor

HUD also advised that mortgagees may continue to follow the guidance in HUD Handbook 4000.1 We have reported on the attempt by the U.S. Department of Housing and Urban Development (HUD) to impose new documentation requirements for down payment assistance provided by government entities to be used in connection with Federal Housing Administration (FHA) insured mortgage loans. For now, those efforts have come to an end. Initially , HUD announced the requirements in Mortgagee Letter 2019-06.

5 Common Lending Challenges and How Lending Software Can Help


Missing, stale or improperly executed documents can, as the OCC Comptroller’s Handbook on Loan Portfolio Management states, “exacerbate problem loans and seriously hamper work-out efforts.”

How to Measure Interest Rate Risk Effectively in Banks & Credit Unions


Accurate and timely IRR measurement is necessary for monitoring IRR effectively,” says the Office for the Comptroller of the Currency’s handbook on interest rate risk says.