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.
Most U.S. banks are increasing their cybersecurity efforts because of emerging technologies such as generative artificial intelligence, and many of those same banks also list AI as a top business investment, according to a recent survey by auditing...
ABA has recently convened panel discussions and a simulation to highlight important challenges bankers will likely encounter.
Financial institutions are legally required to share sensitive, proprietary and nonpublic information with their regulators as part of the supervisory process. This information can range from capital and liquidity management to cybersecurity protocols. Centralizing large amounts of data,...
ABA told House lawmakers that it supports applying privacy and data security protection standards to nonbank industries as long as the requirements do not conflict with those already in place for banks.
ABA joined the Bank Policy Institute and three other associations in calling on the SEC to rescind its cyber incident disclosure rule, which they said puts companies that fall victim to cyberattacks at greater risk.
The financial sector is scrambling to keep up with the heightened risks posed by cyber threats through increasing investment in fraud prevention and strengthening third-party risk management, according to a new report by FS-ISAC.
