Regulatory Reality:

FDIC


January 17, 2011  1:55 PM

Is the U.S. banking crisis over?



Posted by: David Schneier
bank closing, bank closings, banking, banking crisis, compliance, FDIC, FFIEC, foreclosure, GLBA, NCUA, regulatory, Regulatory Compliance

As my professional mind started winding down this evening in anticipation of the weekend, my thoughts started drifting towards yard work and time with the family. Then my Droid started chirping it's little sing-song of alerts as a round of emails hit my inbox and I was brought back to reality for a...

October 1, 2010  7:41 PM

Hidden information security threats are still threats



Posted by: David Schneier
Audit, bank, banking, compliance, credit union, CU, FDIC, FFIEC, financial, financial institutions, personally identifiable informaiton, regulations, regulatory, Regulatory Compliance, security PII

Growing up I was a huge fan of the sitcom "The Odd Couple."  Some of my favorite catch phrases have in some part been influenced by lines of dialogue that I memorized.  One in particular serves as the best pure definition for a phenomenon I encounter frequently enough in my audit/compliance...


August 25, 2010  4:07 PM

Are you GLBA compliant and ready for year-end?



Posted by: David Schneier
Audit, business continuity, business continuity planning, compliance, FDIC, GLBA, NCUA, penetration test, penetration testing, regulatory, Regulatory Compliance, risk, risk assessment, Security, security awareness, social engineering, Vendor Management, vulnerability test

Summer at home officially ended this morning as my children returned to school.  Beyond the fact that I consider it cruel and inhuman punishment to resume academic activities before Labor Day, it also serves as a wake-up call that we're well past mid-year on the traditional calendar and eying the...


August 16, 2010  2:43 PM

Data security risks in the new age of banking



Posted by: David Schneier
Audit, bank, banking, cloud, cloud computing, credit union, FDIC, GLBA, merger, NCUA, NPPI, PII, regulatory, Regulatory Compliance, risk, risk assessment

Earlier this month, I blogged about my concerns regarding a drop-off in information security oversight by banking regulators. In this age of safety and soundness first, everything else is second, if at all.  It's more than a week later and I'm not feeling any better about things; as a matter of...


August 2, 2010  9:29 PM

Where’s the information security oversight?



Posted by: David Schneier
Audit, bank, banking, bcp, CISO, compliance, compliance officer, FDIC, FIL, GLBA, information security, regulatory, Regulatory Compliance, Security, vulnerability test

We were watching a baseball game the other night when one of Microsoft's recent IE8 security commercials aired.  It's the one where a fictitious bank is set up and people off the street, deceived by its appearance, wind up turning over boat loads of personally identifiable information (PII)...


July 12, 2010  6:31 PM

The banking crisis gets another dose of common sense



Posted by: David Schneier
economy, FDIC, lending, mortgage, regulations, Regulatory Compliance, Sheila Bair

Summertime often means vacation time and while I'm not sure I'll take a true vacation ever again, my wife imposes her will upon me and makes me at least try.  I try and circumvent the process a bit by using the downtime to catch up on some of my reading and this year the book of choice is Michael...


May 21, 2010  1:55 PM

The new Senate finance bill: not what I hoped for



Posted by: David Schneier
Audit, compliance, FDIC, OCC, Regulatory Compliance, risk, risk assessment, risk assessments, SEC

I'm an optimist:  Ask anyone who knows me either personally or professionally and they'll agree.  And I've been eagerly anticipating new legislation ever since the banks spiraled out of control and needed government intervention to save themselves.  As my wife likes to tell people, when the...


May 10, 2010  4:59 AM

FDIC bank closure hits close to home



Posted by: David Schneier
compliance, FDIC, GLBA, governance, GRC, HIPAA, PCI, Regulatory Compliance, risk, risk assessment, SOX

In the past, I've made sometimes flip and irreverent comments about the weekly FDIC announcements that land in my inbox regarding bank closings.  Despite the mind-numbing number of institutions that have been closed over the past year or so and the somewhat extensive list of institutions I've...


April 16, 2010  4:56 PM

Regulatory compliance is not optional



Posted by: David Schneier
Audit, bcp, business continuity planning, compliance, exam, examiner, FDIC, NCUA, Regulatory Compliance, vendor, Vendor Management

If I haven't already shared this with you, I'm a partner in a regulatory compliance advisory firm.  We offer services to the banking sector that pretty much cover the entirety of the information security spectrum.  And as you might imagine, there's a fair amount of sales and marketing that go...


January 27, 2010  12:13 AM

Banking regulatory reform is a comin’



Posted by: David Schneier
bank, banking, Basel, FDIC, FFIEC, GLBA, NCUA, Regulatory Compliance

I was scanning through emails the other day and almost missed a good one. It was from the FDIC on Friday, January 22. As we’ve all come to know Friday is the FDIC’s equivalent of “bring out the dead day” when they almost always announce the...


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