Treasury reviewed the benefits and risks arising from the increased use of cloud services technology by financial sector firms.
News & Insights
In comments on a CFPB outline of proposals to implement a consumer's right to access personal financial information, SIFMA argued for limiting the scope of the data required to be reported, establishing necessary exemptions and further protecting data providers.
A cryptocurrency exchange settled New York State Department of Financial Services charges for failing to establish a compliance program to satisfy (i) New York banking law and (ii) NYDFS virtual currency, money transmitter, transaction monitoring and cybersecurity regulations.
In its 2022 Annual Report, the Financial Stability Oversight Council offered recommendations touching on (i) digital assets, (ii) climate-related financial risks, (iii) investment fund disclosure, (iv) Treasury markets, (v) cybersecurity and (vi) LIBOR transitions.
In its semiannual risk perspective, the OCC highlighted the operational, credit compliance and interest rate risks impacting the federal banking system.