The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement warning financial institutions of the increasing frequency and severity of cyber attacks involving extortion, including ransomware, denial of service, and theft of sensitive customer information that is used to extort victims.
In a recent letter to the 18 members of the Financial and Banking Information Infrastructure Committee (FBIIC), Acting Superintendent of the New York Department of Financial Services (NYDFS) Anthony Albanese requested collaboration and regulatory convergence among the members on cybersecurity standards for financial institutions.
Anthony Albanese, the Acting Superintendent of the New York State Department of Financial Services (NYDFS), recently announced his resignation after slightly more than four months in the position.
On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) released the anticipated final rule amending Regulation C , 12 C.F.R.
The long-awaited and somewhat delayed TILA-RESPA Integrated Disclosure Rule took effect on October 3. The new rule requires mortgage lenders to use a new, integrated disclosure form and comply with new rules regarding disclosures and timing of the same.
On September 29, four senators and 39 representatives sent a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray expressing concern about the CFPB’s proposed rulemaking for prepaid accounts.
The Board of Governors of the Federal Reserve System and the other federal agencies tasked with implementing the Volcker Rule recently released two additional frequently asked questions (FAQs).
The Office of the Comptroller of the Currency’s (OCC’s) Committee on Bank Supervision has released its Fiscal Year 2016 priorities.