Civil Money Penalty Issued by the FDIC

Prohibition Orders – The FDIC issued prohibition orders and a civil money penalty against a bank’s ex-bookkeeper for misappropriating funds during a four-year period. The employee allegedly misappropriated approximately $181,000.

From the FTC

Safeguards Rule – The FTC published FTC Safeguards Rule: What Your Business Needs to Know, as a guide to help businesses comply with the FTC’s Standards for Safeguarding Customer Information. The Safeguards Rule applies to financial institutions subject to the FTC’s jurisdiction that are not subject to the enforcement authority of another regulator under the GLBA.  

Technical Notice – OFAC published a technical notice that it is replacing the SSL certificates on the Treasury’s website and if your screening application pins or otherwise trusts the serial number of the existing certificate as part your application functionality, you may need to update your configuration to trust the renewed certificate.  

NCUA Publishes Info on Distributed Ledger Technologies

Distributed Ledger Technologies – The NCUA published 22-CU-07, which clarifies certain expectations for credit unions contemplating the use of new or emerging distributed ledger technologies (DLT). The NCUA does not prohibit credit unions from developing, procuring, or using DLT. DLT used as an underlying technology by credit unions is not prohibited if it is deployed for permissible activities and in compliance with all applicable laws and regulations, including applicable state laws or state supervisory authority requirements.