CSBS Releases Nonbank Cybersecurity Exam Procedures
Washington, D.C. — The Conference of State Bank Supervisors released today two new tools for nonbank financial services companies to improve their cybersecurity posture.
The Baseline Nonbank Cybersecurity Exam Program and the Enhanced Nonbank Cybersecurity Exam Program are tools used by state examiners nationwide to assess the cyber preparedness of nonbank entities. The release of these tools provides these institutions the ability to improve their cybersecurity posture and better prepare for cybersecurity exams conducted by state examiners. A multi-state team of cybersecurity examination experts developed these exam procedures and tools.
“Supervisory clarity is essential to increasing industry awareness and making our financial system more resilient to cyber-attacks,” said CSBS Senior Vice President of Nonbank Supervision Chuck Cross. “The Nonbank Cybersecurity Exam Procedures released today provide nonbank institutions additional optional tools to guard against cyber-attacks, data breaches or lapses in management oversight in this crucial area.”
In the coming months, CSBS intends to provide additional tools tailored to the needs of smaller nonbank financial institutions.
This release is part of a larger initiative by CSBS and state regulators to equip the industry with the necessary tools to protect the nation’s critical financial infrastructure. CSBS also provides nonbanks with a Ransomware Self-Assessment Tool and a Cybersecurity 101 Guide for executives.
Contact: Matt Longacre, 859-396-0576, [email protected]
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.
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