The long-awaited Federal Financial Institutions Examination Council (FFIEC) Cybersecurity Assessment Tool has arrived. Cybersecurity has been at the forefront of the minds of bankers nationwide for many months now, with no end to the epidemic in sight. Organized crime and even nation-states are targeting financial institutions of all sizes, and all indications seem to point to an increase in attacks targeting even smaller financial institutions.
There’s a new buzz in the domain game, and you’ve probably heard of it‒.bank. Like most industry leaders, you’re probably still weighing the pros and cons, trying to determine what your strategy should be. Check out the following FAQ to break through the clutter and decide if .bank is right for your financial institution.
Not only is paper expensive, it takes up a lot of space at your financial institution. Did you know that the comprehensive cost to print one piece of paper could be as high as $0.13 per page? That’s not sustainable.
The road to EMV migration in the U.S. has been a rocky one. With complications stemming from federal regulations and ATM compatibility issues, migrating from the mag-stripe cards we rely on today to new chip card-based technology is proving a complex and costly undertaking.
For those of you wondering if Cuba’s now open for business, the answer is “well … not quite yet.” While there has been some ease of the restrictions placed on Cuba, travel is not permitted without a general or specific license from the U.S. Department of the Treasury.
Unless you’ve been hiding under a rock or otherwise detached from the news during the past week, you’ve probably heard that the USA PATRIOT Act has expired. The story has been dominating headlines since midnight on Sunday, May 31, when the expiration officially took effect.
Feb. 6 through today—that’s just over a four-month span, but consider what has happened in that relative blink of an eye. Record-breaking snowfall crippled sections of New England. Multiple twisters ravaged parts of tornado alley. A U.S. hospital treated the 11th healthcare worker suffering from Ebola. The worst measles epidemic in years sparked fierce debates about vaccines. And an ISIS fringe group threatened the U.S. with a cyberattack.
For many banks, the struggle to manage IT in-house becomes time consuming and detracts from strategic initiatives. And when your IT systems go down or a user can’t access his or her account, managing IT becomes an urgent priority that you have to make time for.
Whether it’s big-name merchants falling victim to security breaches or increasing levels of counterfeit card fraud among customer transactions, bank card security is a growing priority for your bank, your customers and merchants across the U.S.
A full discussion draft of Senate Banking Committee Chairman Richard Shelby’s regulatory relief bill was released on Tuesday, May 12. This legislation could mean some big changes are in store for community and regional banks.