The OCC today released its Cybersecurity Supervision Work Program for use by examiners. The program contains high-level examination objectives and procedures that are aligned with existing supervisory guidance and the National Institute of Standards and Technology’s cybersecurity framework, according to the agency. It does not establish new regulatory expectations and banks are not required to use the work program to assess cybersecurity preparedness.
One important strategy to defend against criminals targeting banks every day with look-alike domains and other common cyberattacks.
The CFPB is seeking public comment on the costs and challenges of enforcing the Dodd-Frank Act’s data sharing requirements as it considers new rulemaking to implement the law.
ABA joined six associations in requesting that House lawmakers exempt financial institutions from any national multi-sector data privacy law as they are already subject to long-standing privacy requirements.
The Treasury Department issued a request for comment on stablecoin implementation, particularly on tools or strategies that financial institutions can use to detect illicit activity involving digital assets.
The Federal Reserve will sunset a program started in 2023 to supervise bank activities related to cryptocurrencies and financial technology and instead roll those activities into its regular supervision.
The CFPB plans to propose rulemaking on small business lending data collection and consumer data sharing before the end of the year, according to the recently released agency rule list for spring.
