Monthly Archives: October 2016

CFPB Issues “Project Catalyst” Report on Financial Services Innovation

In 2012, the Consumer Financial Protection Bureau (“CFPB”) launched its Project Catalyst initiative, which is dedicated to promoting consumer-friendly innovation in the financial services marketplace. The CFPB explains the initiative’s work as outreach and collaboration with a variety of institutions to develop new programs, perform research, and conduct disclosure testing, among other projects. On October […]

FFIEC Presents FAQs on Cybersecurity Assessment Tool

As financial institutions grapple with data security and risk management issues, the Federal Financial Institutions Examinations Council’s (“FFIEC”) Cybersecuity Assessment Tool (“CAT”) has become an important component of monitoring cybersecurity risk. However, the CAT is largely presented as a series of tables, risk levels, and statements that understandably give rise to questions. Now, the FFIEC […]