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FFIEC

   Also found in: Financial, Wikipedia 0.01 sec.
AcronymDefinition
FFIECFederal Financial Institutions Examination Council


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] In response to pervasive criminal attempts to gain access to and enact fraudulent transactions via customer accounts, the FFIEC looked into the level of industry security with regard to account access, and found it lacking.
In June 2005, the AICPA submitted comments to the FFIEC's Proposed Advisory urging the FFIEC to permit provisions limiting an auditor's liability to the client for punitive damage claims, provided the auditor remained liable for actual damages.
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency will update the list of distressed and underserved nonmetropolitan middle-income geographies annually, and will post updates on the FFIEC web site by April 1 of each year.
 
 
 
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