The Federal Financial Institutions Examination Council issued a cloud computing resource document July 10. The four-page document explains how banking institutions should apply existing guidance to deals they sign for outsourced cloud-based services. An attorney says the document is far too shallow to offer banks and credit unions any real insights. The National Credit Union Administration says the new resource was issued to address risks and expectations related to the cloud. Regulators should not encourage banking institutions to follow the same guidelines for cloud providers that they follow for other outsourced relationships, attorney says.”]
Source: https://www.cuinfosecurity.com/ffiecs-new-cloud-info-disappointing-a-4949