Latest from the Regulators: FFIEC, NCUA, and FHFA


FFIEC Issues Guidance on Authentication and Access to Financial Institution Services and Systems

The Federal Financial Institutions Examination Council (FFIEC) on Aug. 11 issued guidance that provides financial institutions with examples of effective authentication and access risk management principles and practices for customers, employees, and third parties accessing digital banking services and information systems. The guidance:

  • Highlights the current cybersecurity threat environment, including increased remote access by customers and users, attacks that leverage compromised credentials, and mentions the risks arising from push payment capabilities
  • Recognizes the importance of the financial institution’s risk assessment to determine appropriate access and authentication practices to determine the wide range of users accessing financial institution systems and services

Click here to view the guidance.

NCUA’s Hosts Supplier Diversity Webinar on Aug. 31

The National Credit Union Administration’s (NCUA) Office of Minority and Women Inclusion will host a webinar on supplier diversity beginning at 11 a.m. Pacific on Tuesday, Aug. 31. This 60-minute webinar will discuss why supplier diversity is important and how to implement a program. It will also:

  • Debunk the myths and biases keeping credit unions from starting supplier diversity programs
  • Distinguish between performative versus representational communications in supplier diversity
  • Describe what credit unions can do to begin supplier diversity programs
  • Describe how to measure a credit union’s supplier diversity efforts and effectiveness

Click here to register.

FHFA Announces Inclusion of Rental Payment History in Fannie Mae’s Underwriting Process

In effort to expand access to credit in a safe and sound manner, the Federal Housing Finance Agency (FHFA) announced on Aug. 11 that Fannie Mae will now consider rental payment history in its risk assessment process. With the update to Fannie Mae's systems, future borrowers will have the benefit of a positive rental payment history being included in an underwriting decision. There is no additional burden—either for the borrower or for the lender—to make use of this feature.  

Click here to read the news release.

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