Category Archives: FFIEC

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O Canada! What Canada’s Nationwide Legalization of Cannabis Means for American Financial Institutions

Today marks a significant shift in cannabis policy, both domestically and internationally, as Canada becomes the first industrialized nation in the world, and only the second nation overall, to legalize cannabis. This follows the passage of The Cannabis Act in June of this year, which legalized cannabis at all levels of government. With this blessing … Continue Reading

FFIEC Highlights Cyber Insurance for Financial Institutions

The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement emphasizing the need for lenders and servicers to include cyber insurance in their risk management program. Although the FFIEC did not announce new regulatory requirements or expectations, the announcement is further evidence of what most in the industry have already recognized: Cyber coverage … Continue Reading

The Bank Next Door: Part I – Using Social Media to “Friend” Customers

[This post is the first in a series of post which will examine the risks, rewards, innovative uses, and changing legal landscape of social media use by financial services institutions. Future blog posts will examine topics such as: monitoring and managing consumer complaints through social media, disgruntled employee use of social media, and control over content and message. … Continue Reading
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