WBK Industry News - State Regulatory Developments

CSBS Releases Nonbank Cybersecurity Exam Procedures

The Conference of State Bank Supervisors (CSBS) has released two new tools, the Baseline Nonbank Cybersecurity Exam Program and the Enhanced Nonbank Cybersecurity Exam Program, that are intended to be used by state examiners to assess the cyber readiness of nonbank entities in information technology and cybersecurity examinations. 

Non-depository financial institutions should review these tools in order both to improve their cybersecurity, and to be prepared for what they can expect to be asked during such examinations going forward.  The CSBS also stated that in the coming months it intends to provide additional tools tailored towards smaller non-depository financial institutions.