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In 2005, the Federal Financial Institutions Examination Council
(FFIEC) member agencies issued interpretive guidance recommending
that financial institutions develop and implement programs designed
to address incidents of unauthorized access to sensitive customer
information. (See FIL-27-2005). For purposes of this guidance, sensitive customer information includes a
customer s name, address, or telephone number in conjunction
with a Social Security number, driver s license number, account
number, credit or debit card number, or a personal identification
number or password that would permit access to the customer s
account. It also includes any combination of components of customer
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Headlines
FDIC and OCC Adopt Final Rules on the Role of Supervisory Guidance
Data Breach Notice Requirements Proposed for Banks and Their Service Providers
OCC Proposes New National Bank and Federal Thrift Rule for Investments in Premises
Other Developments: Suspicious Activity Reporting, and Escrow Accounts
1. Updated Annual Meeting Guidance for Mutual Banks and Mutual Holding Companies
The Massachusetts Division of Banks has issued new guidance to mutual banks and mutual holding companies that have not yet held their 2020 annual meetings due to the ongoing COVID-19 public health emergency and to clarify the Division’s expectations for 2021 annual meetings. The guidance released on January 21,