Agencies issue joint statement on handling of highly sensitive information during bank examinations
On March 6, the federal bank regulatory agencies released a joint statement outlining improved security protocols for handling highly sensitive data during bank examinations. The agencies emphasized a collective effort to identify and safeguard confidential information while minimizing cybersecurity risks.
The statement highlighted the agencies' commitment to maintaining the confidentiality of a bank's sensitive data and protecting it from unauthorized access due to potential cybersecurity vulnerabilities. They pledged to promptly notify affected banks of any material data breach involving confidential supervisory information, ensuring notification within 72 hours of discovery, unless legal restrictions apply.
Written by urgent.news from Federal Reserve Board's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
