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The FDIC, the FRB, and the OCC issued a joint final rule establishing computer-security notification requirements for banking organizations and bank service providers. The Final Rule applies to FDIC, FRB, and OCC regulated banking organizations and bank service providers.
1. Introductory remarks The Directive on Security of Network and Information Systems 1 was adopted by the European Parliament on 6 July 2016 and entered into force in August 2016. It was the first piece of EU-wide cybersecurity legislation. Member States had to transpose the NIS Directive into their national legislation by 9 May 2018 and identify operators of essential services ( OES) by 9 November 2018. Under the NIS Directive, Member States are required to ensure that OES and digital service providers ( DSP) implement cybersecurity requirements and report incidents. As part of its p...
To embed, copy and paste the code into your website or blog: On December 17, 2020, the Office of the Comptroller of the Currency, Treasury (OCC); the Federal Reserve; and the Federal Deposit Insurance Corporation (FDIC) issued a Notice of Proposed Rulemaking that would require financial institutions to notify their primary federal financial regulator, within 36 hours of becoming aware, that a “computer-security incident” or “notification incident” has occurred. The rule would also require bank service providers to notify “at least two individuals at affected banking organization cus...