February 16, 2024

Past Issues | Subscribe | ABA Bank Compliance magazine | ABA Banking Journal

February 16, 2024

Features

Seven cybersecurity threats for banks in 2024 — and some smart precautions

Cybercriminals are professionalizing and a new threat is on the rise.

Weak identity authentication and verification protocols can result in compromised online accounts and diminished information security.

Looking ahead to new challenges for banks

ABA Banking Journal’s annual analyses target important issues across multiple topics, from compliance to cybersecurity and more.

Amid what he called a "tsunami of new regulations," ABA President and CEO Rob Nichols kicked off the Conference for Community Bankers in San Antonio, Texas, with a discussion of how ABA is pushing back on regulatory overreach.

Ncontracts, launched an online training program “Nstitute Certified Vendor Management Professional (NCVMP)" certification based on the new interagency guidance on 3rd party risk management. Nstitute is a self-paced, training program that covers essential areas of third-party risk management to empower vendor managers and professionals tasked with overseeing third-party vendors, consultants, fintechs, and others. Ncontracts is currently offering an exclusive 30% discount.

Learn More

Risk and Compliance News

ABA urges caution if regulators revisit bank liquidity requirements

If federal regulators plan to revise bank liquidity requirements or related reporting, then they should first issue advance notices of proposed rulemaking to give the public and banking industry sufficient time to review and comment on the proposals, ABA says.

A proposed FDIC rule to establish new guidelines for governance and risk management at supervised banks with at least $10 billion in consolidated assets would undermine the safety and soundness of covered institutions and the industry as a whole, ABA and 52 state bankers associations said.

The Federal Reserve’s role as supervisor is not to replace a bank’s management and board of directors in adopting a banking strategy and risk appetite, Fed Governor Michelle Bowman said.

FinCEN proposes applying BSA requirements to investment advisers

FinCEN proposed a new rule to require certain investment advisers to comply with Bank Secrecy Act regulations regarding anti-money laundering and countering the financing of terrorism.

FFEIC released a set of principles to guide banking regulators when monitoring for discrimination in residential property appraisals and evaluations in their examinations of supervised institutions.

FinCEN proposed a new rule to require certain professionals involved in real estate closings and settlements to report information to the agency about non-financed transfers of residential real estate to legal entities or trusts.

Get ready to unlock exclusive insights into the ever-evolving world of cybersecurity! Our 11th annual "Experian 2024 Data Breach Industry Forecast" is here, offering a tantalizing glimpse into the future. With six pivotal predictions that will reshape the cybersecurity landscape, this report is a must-read for data breach professionals, cyber experts, and industry leaders.

Download Now!

Training

February 21
Webinar: Mergers & Acquisitions: Federal Updates and What Bankers Need to Know

February 22
Webinar: Serving Customers With Disabilities

February 26
Webinar: Generative AI: Potential or Peril

March 18 - 22
School: Compliance School – Foundational
Emory Conference Center, Atlanta, GA

March 18 - 21
School: Compliance School – Intermediate
Emory Conference Center, Atlanta, GA

March 28
Webinar: Deposits: Strategies to Manage Liquidity and Funding Costs

April 8 - May 31
Facilitated Training: Managing Interest Rate Risk

April 17
Webinar: 2024 Regulatory Updates and Compliance Challenges – Part 2