BPI Urges New Safeguards for Sharing Sensitive Financial Data With Regulators

The Bank Policy Institute is recommending that financial institutions and their regulators reduce direct electronic transfers of sensitive financial and supervisory data, arguing that traditional practices such as uploading files to regulator-controlled portals or sending encrypted emails can create unnecessary cybersecurity risks. In a risk-based practices framework released Thursday (July 23), BPI called for greater reliance on systems that allow regulators to review sensitive information whil