U.S. Financial Regulators Making Cyber an Exam Priority

According to the American Banker, “regulators are planning to make cybersecurity a higher priority during bank exams” starting next year. The Federal Deposit Insurance Corporation (FDIC) is planning to rework its community bank examination program to “[include] enhancements to specifically address cybersecurity elements,” according to Mark Moylan, the FDIC’s deputy director of risk management supervision. “The focus on cybersecurity needs to move from the server room to the boardroom,” Moylan added.

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