Four Key Elements To Include In Your Customer Response Program

Risk Management

When your regulator comes to your institution during your next examination, will your incident response plan be your Achille’s heel? Ensuring your institution is ready to respond to any breach begins with the development of a response team.

Under the interpretive authority granted by the Gramm-Leach-Bliley Act (GLBA), federal banking regulators finalized guidance establishing standards financial organizations must follow to safeguard customer information. The Interagency Guidance on Response Programs for Unauthorized Access to Customer Information and Customer Notice Guidance requires banks to establish a security breach response program and, in general, to notify affected customers when a breach occurs.

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