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What Do the FFIEC IT Handbook Updates Really Mean?

Jack Henry

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). Great, you might say … translation, please?

Handbook 179
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Updated FFIEC IT Examination Handbook: What's Changing? Part 2

Jack Henry

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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Today’s Cyber Risk Management

Cisco

The past 20 years have visibly demonstrated the impact large scale events have on market, credit, and operational risks in financial services. The subsequent regulatory activity in response to these events focused on operational risks. Cyber risk is the largest and fastest growing operational risk within financial services.

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FFIEC Cybersecurity Maturity Assessment Tool

Cisco

This framework is especially relevant given the recent FFIEC Architecture and Operations update and the Executive Order on Cybersecurity from 2021. The assessment applies principles of the FFIEC IT Handbook and the NIST Cybersecurity Framework. These are mapped into categories and include: Technologies and Connection Types.

Tools 114
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New HUD Requirements for Down Payment Assistance Provided by Government Entities

CFPB Monitor

FHA mortgagees must document that the borrower’s MRI was provided by a government entity as either a gift or through secondary financing in a manner consistent with the National Housing Act and HUD Handbook 4000.1. b) and further clarified in the Handbook 4000.1; The new requirements will be incorporated into HUD Handbook 4000.1.

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HUD Throws in the Towel on Down Payment Assistance Revisions

CFPB Monitor

What HUD did not mention was that that CBC Mortgage Agency, which is an instrumentality of the Cedar Band of Paiutes Indian American tribe and operates the Chenoa Fund down payment assistance program, had filed a lawsuit in the U.S. HUD also advised that mortgagees may continue to follow the guidance in HUD Handbook 4000.1

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Important Considerations When Growing the CRE Portfolio

Abrigo

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.