Federal Banking Regulators to Subject Fat Cats to New Cybersecurity Rules
Prudential regulators announced on Wednesday that they intend to formulate new cybersecurity rules for the country’s largest banks. Three major agencies said that they plan on formally proposing the guidelines in January, and welcomed public comment, per standard procedure. The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Federal Reserve are administering the push. In an advance notice of the proposal, they stated that efforts will focus on “cyber risk governance; cyber risk management; internal dependency management; external…