Compliance Center: Cybersecurity Resources

New tools to help your credit union mitigate cybersecurity risk, your question answered on the FFIEC Cybersecurity Assessment Tool, and this week’s legal briefs.

Compliance Center: FFIEC Releases Cybersecurity Assessment Tool

Learn more about the cybersecurity tool; your question answered about members writing their PINs on their debt card; plus this week’s legal briefs.

Compliance Center: FFIEC Joint Statements on Risk Mitigation and NFIP Program Changes

Important cyber-security statements; your question answered on the SAFE Act de minimus exception; plus this week’s legal briefs.

FFIEC Releases 2014 Version of BSA Examination Manual

Updated BSA exam manual released; Which policies need board approval; Plus legal briefs.

Compliance Center: FFIEC Recommends Participation in Cybersecurity Information Sharing Forum

After assessment, FFIEC recommends financial institutions participate in forum to learn and spread best practices. Plus the compliance question of the week and legal briefs.

Compliance Center: “Shellshock” Vulnerability Threatens Credit Union Systems

FFIEC advice on the Shellshock vulnerability; Power of attorney filing question; and this week’s legal briefs.

FFIEC Issues a Warning about Increased Cyber Attacks On ATMs

A statement from the Federal Financial Institutions Examinations Council lists the steps credit unions should take to address the threat posed by cyber attacks on ATM and card authorization systems. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union stop payment on a cashier’s check, teller’s check or certified check?”

Dealing with FFIEC’s Social Media Guidance: Are Your Risk-Management Plans In Place?

The Federal Financial Institutions Examination Council recently outlined its expectations for adequately addressing social media risks – guidance that the NCUA, CFPB and state regulators are likely to follow. Justin Whitesides, an attorney for Farleigh Wada Witt, explains what credit unions need to do to comply.

Legal Briefs

Your weekly update on the regulatory landscape.

FFIEC Issues Final Guidance for Social Media Compliance

The Federal Financial Institutions Examination Council (FFIEC) has released its final guidance on social-media usage by financial institutions. The guidance doesn’t differ too much from the original proposal released earlier this year, but it does provide some important clarifications.

FFIEC Releases Statement on End of Microsoft Support for Windows XP Operating System

Microsoft will discontinue its support for the Windows XP operating system on April 18, 2014, and the Federal Financial Institutions Examination Council is urging credit unions to identify, assess and manage the potential risks now.

Legal Briefs

Your weekly update on the regulatory landscape.

FFIEC Releases Proposed Guidance on Social Media

The FFIEC is seeking comment on a proposed guidance applying consumer protection and compliance laws, regulations, and policies to activities conducted via social media by financial institutions and nonbank entities supervised by the CFPB and state regulators.

Legal Briefs

Your weekly update on the regulatory landscape.

CUNA Offers Security Videos to Help Comply with FFIEC Guidelines for Consumer Education

Through a new partnership between CUNA and Stickley on Security, credit unions have access to discounted identity theft education materials, which Kelly Ferguson said have provided “a great upgrade to our member education program” at Numerica Credit Union.

FFIEC Warns Credit Unions About Cloud Computing

The FFIEC believes credit unions should do a thorough risk assessment before deciding to use cloud computing for data storage and other computing purposes, noting that cloud computing is essentially another form of outsourcing.

Legal Briefs

Your weekly update on the regulatory landscape.

Financial Regulators Release Interest Rate Risk FAQ

The Federal Financial Institutions Examination Council has reiterated “the need for sound management of interest rate risk” and highlighted sound practices in a new FAQ document.