The Federal Financial Institutions Examination Council (FFIEC),1 on behalf of its members, is issuing this statement to communicate that the FFIEC will sunset the Cybersecurity Assessment Tool (CAT)2 on August 31, 2025.
On July 24, FDIC Vice Chairman Travis Hill addressed changes at the FDIC during the past 18 months. Hill discussed challenges the Federal Reserve faced in providing bank liquidity due to banks’ unwillingness or inability to use the discount window. Hill also discussed how the FDIC had taken steps to address bank runs, fund FDIC receivership, and amend bank liquidity issues by proposing operational improvements like electronic funding requests and expanded hours of operation.
Despite the ongoing government shutdown, the Federal Communications Commission (FCC) held its regularly scheduled monthly open meeting on October 28. At the meeting, the three Commissioners unanimously approved a Notice of Proposed Rulemaking (NPRM) that includes proposals to “simplify, streamline, or eliminate” several existing rules pursuant to the Telephone Consumer Protection Act (TCPA) that the Commission believes are outdated or might harm consumers.
Today the National Credit Union Administration (NCUA) issued a notice of proposed rulemaking to codify the elimination of reputation risk from its supervisory program. The agency previously announced it ceased using reputation risk and equivalent concepts in the examination and supervisory process.
Despite President Trump’s efforts to fire her, the Supreme Court has ruled that Lisa D. Cook can remain on the Federal Reserve Board at least until the court hears oral arguments in January 2026.
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