WASHINGTON – The Federal Financial Institutions Examination Council reiterated Monday that its cybersecurity assessment tool is voluntary, despite bankers' fears that not using it could put them in hot water with their examiners.

In a set of 18 questions and answers released by the FFIEC, the interagency group – which counts the Federal Deposit Insurance Corp., Federal Reserve, Office of the Comptroller of the Currency and National Credit Union Administration among its members – clarified some points and stressed that the tool was not a regulatory requirement.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.