Regulations Impacting Electronic Banking

Posted By: Nicole

Regulations Impacting Electronic Banking - 07/29/21 07:18 PM

Hello all, I'm just trying to gather some research to identify all regulations that hit on Electronic Banking. This is what I have so far, please let me know if I'm off.

• WCAG 2.0
• Advertisement Of Membership (FDIC 12CFR §328) (NCUA RR 740)
• Esign
• Regulation B
• Regulation C
• Regulation CC
• Regulation D
• Regulations DD (TISA)
• Regulation E
• Regulation M
• Regulation P
• Regulations X
• Regulation Z
• Fair Housing Act (FHA)
• Fair Credit Reporting Act (FCRA)
• FDCPA (Fair Debt Collections Practices Act)
• Flood Disaster Protection Act (FDPA)
Posted By: BrianC

Re: Regulations Impacting Electronic Banking - 07/29/21 07:39 PM

Congrats on your first post and welcome to BankersOnline.

Your question is very broad as you do not specific what transactions(s), service(s) and/or advertising is being done electronically. Without knowing specifics, a couple of items that I would add to your list based on my firm's website audit work program is "Advertisement of non-deposit investment products" and "Children's Online Privacy Protection Act" (COPPA).
Posted By: Nicole

Re: Regulations Impacting Electronic Banking - 07/29/21 09:30 PM

Thank you! I'm being asked this question on behalf of another department whom is planning to do a risk assessment, so I assumed every product. But, I'll ask for clarification if it's a specific service, transaction or advertisement.
Posted By: Nicole

Re: Regulations Impacting Electronic Banking - 07/29/21 09:49 PM

Thanks for the feedback, I added in your notes and did confirm with the BU that it's all encompassing. It covers anything our financial institution can do through online our website or mobile app. So basically these products/services: Wires, ACH, P2P, Mobile Deposit, Bill Pay, Loans (consumer, mortgage, commercial), investment accounts, Online banking, Mobile banking, ATMs, Telephone banking, Digital Experience Center (the website), Weblinking, New Account Opening, Savings and checking, New membership, Savings, Certificate, Youth checking and savings, Trust-owned accounts, Business accounts, HSA checking, Account aggregators, ATM/Debit/Credit Card
Posted By: InFairness, CRCM

Re: Regulations Impacting Electronic Banking - 07/30/21 12:14 PM

If it is all the products offered in the non-digital portions of the bank, your existing regulatory applicability matrix is a great starting point. Information/cyber security likely needs to be even more rigorous for online banking than other banking. Does your site have any social media linkage capabilities? If so the FFIEC social media guidance should also be considered.
Posted By: Nicole

Re: Regulations Impacting Electronic Banking - 08/02/21 04:10 PM

Great add! I'll add this to my list.