Risk Management

Members say there are no upside risks to inflation

There was a major increase in the sophistication and quantity of attacks targeting individuals, organizations, and critical infrastructure in the first six months of 2021

Money laundering and other types of financial crime have plagued the financial industry for years

Fed flags cybersecurity and operational resilience as priorities for large banks

OCC, Board, FDIC will require banks to report incidents within 36 hours

Bank capital ratios remained well in excess of regulatory requirements finds Federal Reserve financial stability report

New framework, along with five “range of practices” questions will be released by the end of 2021

Changed circumstance remains a substantial, inherent compliance risk for lenders

Financial institutions and the businesses they serve need to add an additional layer of technology and step up their strategy

The ABA and OCC have responded