Regulatory & Compliance Updates: Sept. 4, 2024

NCUA and FFIEC Update Examiner Guidance on Financial Institutions’ Information Technology Development, Acquisition, and Maintenance: On August 29, the Federal Financial Institutions Examination Council (FFIEC) issued a new booklet to help examiners evaluate credit unions information technology practices regarding their development, acquisition planning, and execution of governance, risk management, and maintenance activities. 

FinCEN Issues Final Rules to Safeguard Residential Real Estate and Investment Adviser Sectors from Illicit Finance: On August 28, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two rules to help safeguard the residential real estate and investment adviser sectors from illicit finance pursuant to the US Strategy on Countering Corruption. 

​FFIEC Sunsets Cybersecurity Assessment Tool: The Federal Financial Institutions Examination Council (FFIEC), announced it will be sunsetting its Cybersecurity Assessment Tool (CAT) on August 31, 2025.

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