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Bank Groups Object to Proposed Breach Notification Regulation DougOlenick) • April 15, 2021     The Office of the Comptroller of the Currency and two other agencies issued the proposed notification rule. The American Bankers Association and three other groups have voiced objections to provisions in a cyber incident notification regulation for banks proposed by three federal agencies. For example, they say that the definition of a reportable computer security incident is too broad and would result in the reporting of insignificant events. The proposed regulation would require banks to provide their primary federal regulator with prompt notification of any computer security incident that materially disrupts, degrades or impairs certain important business operations.

United statesJerome powellBurdensomedoug olenick dougolenickInstitute of international bankersTreasury department office of the comptrollerFederal reserveTheir bank service providersNational institute of standardsDeposit insurance corpBank policy instituteOffice of the comptrollerFinancial markets associationAmerican bankers associationBreach notificationSecurity operationsGroups object