As banks continue to assess their risks related to the European Union’s General Data Protection Regulation, which came into effect on May 25, the American Bankers Association has released a new round of members-only resources to help. Following up on a suite of free member resources provided earlier in the year, ABA today released a GDPR risk management checklist and a 32-page FAQ document addressing the most common questions received from community, midsize and regional banks.
Given the uncertainty of GDPR’s effects on domestic U.S. banks and the individual decisions each bank must make on its own risks, these resources are offered to help bankers understand how GDPR may touch their own bank’s business model and market. The checklist can assist a bank in developing its approach to GDPR and shape conversations among bank CEOs, board members, compliance officers, risk management, IT staff and legal counsel.
ABA members can find the checklist and other materials — including the recording and slides from a June webinar — at aba.com/GDPR. The page will continue to be updated as more materials become available. For more information, contact ABA’s Denyette DePierro.