Mitigation

ICBA expressed opposition to the establishment of a U.S. central bank digital currency. In a comment letter to the Federal Reserve, ICBA said a U.S. CBDC would introduce significant privacy and cybersecurity risks into the nation’s monetary system and disrupt U.S. banking stability.

ICBA, American Bankers Association, Bank Policy Institute, and Mid-Size Bank Coalition of America commented late yesterday on a SEC proposal that would implement new requirements for financial institutions to disclose material cyber incidents, as well as cybersecurity risk management, strategy and governance.

The latest episode of ICBA’s Communities of Innovation podcast focuses on why cybersecurity is no longer simply an IT issue for community banks.

A coalition of banking associations responded today to the Board of Governors of the Federal Reserve as it seeks to establish guidelines for how institutions applying for a Fed master account will be evaluated.

The OCC issued a consent order against Anchorage Digital Bank, one of the first crypto firms to receive conditional approval for a national trust charter.

The Financial Services Information Sharing and Analysis Center’s most recent weekly risk summary report covers the latest threats from the Russia-Ukraine conflict; Octo, a new Android banking trojan; and phishing campaigns targeting financial institutions.