News & Analysis as of

Federal Financial Institutions Examination Council Banking Examinations

Venable LLP

Federal Regulators Continue their Focus on Fair Lending and Appraisal Bias

Venable LLP on

As 2024 gets off the ground, federal regulators are continuing their focus on fair lending issues. In February, the Federal Financial Institutions Examination Council (FFIEC) released a statement on examination principles...more

Latham & Watkins LLP

How Proposed Bipartisan Bill Would Reform Bank Exams

Latham & Watkins LLP on

A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank/fintech partnerships by promoting transparency, appellate rights and examiner accountability. On Dec. 14, 2023, a bipartisan group of...more

Latham & Watkins LLP

Proposed Bill Would Reform Bank Exam Processes

Latham & Watkins LLP on

A recent bipartisan bill, if enacted, would particularly benefit small lenders and bank-fintech partnerships by promoting transparency, appellate rights, and examiner accountability. On December 14, 2023, a bipartisan...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2022

Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Ballard Spahr LLP

FFIEC BSA/AML Examination Manual Updates Reveal Exam Process and Expectations

Ballard Spahr LLP on

Examiners Should Focus on Risk, Not Technical Perfection - On April 15, 2020, the Federal Financial Institutions Examination Council (“FFIEC”) released updates to the Bank Secretary Act/Anti-Money Laundering (“BSA/AML”)...more

Ballard Spahr LLP

FFIEC Manual Incorporates Beneficial Ownership Rule and CDD Requirements

Ballard Spahr LLP on

Incorporation Solidifies Customer Due Diligence as “Fifth Pillar” to BSA/AML Compliance Program - May 11, 2018 was the much anticipated effective date for the Customer Due Diligence (“CDD”) Requirements for Financial...more

BCLP

FDIC Cybersecurity Examinations: A How-To Guide

BCLP on

FDIC bank examinations generally include a focus on the IT systems of banks with a particular focus on information security. The federal banking agencies issued Interagency Guidelines Establishing Information Security...more

King & Spalding

Member Of The Federal Reserve’s Board Of Governors Notes Benefits Of Consistent Cybersecurity Exam Approaches

King & Spalding on

On June 24, 2016, in a response letter to Senator Dean Heller (R-NV), Daniel Tarullo, a member of the Board of Governors of the Federal Reserve System, highlighted the benefits of consistent cybersecurity supervisory...more

Balch & Bingham LLP

New Bank Examination Procedures for Cybersecurity

Balch & Bingham LLP on

There is no more pressing problem facing business organizations today, of all types, than cybersecurity threats. For a highly regulated industry like banking, regulators are watching closely to see how the IT governance...more

Ballard Spahr LLP

FFIEC Tool Helps You Assess Cyber Risk

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The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more

Davis Wright Tremaine LLP

FFIEC Releases Revised BSA/AML Examination Manual

The Federal Financial Institutions Examination Council (FFIEC) has released its revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. The revisions clarify supervisory expectations and incorporate...more

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