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Bank Boards of Directors: Governance and Oversight Measures to Mitigate Risks Under Evolving Regulatory Frameworks

Navigating Bank Failures, Climate Change, Cybersecurity, Data Privacy and Access to Banking and Credit

Recording of a 90-minute premium CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, February 20, 2024

Recorded event now available

or call 1-800-926-7926

This CLE course will offer guidance to bank counsel on critical areas of risk that impact U.S. banks--bank failures, climate change, cybersecurity, and social justice--and steps the bank boards they advise should take to address the evolving regulatory framework around these issues.


The risks facing banks and their governing boards are constantly evolving. Current issues demanding particular attention include bank failures, climate change, cybersecurity, data privacy, and equitable access to banking services and credit. Counsel must have a thorough understanding of the current regulatory environment and potential legal risks facing financial institutions in these areas and provide advice to bank boards on governance and oversight measures to mitigate these risks.

There is continued focus on the risks that climate change poses to the financial system. Bank boards should stay current on climate-related financial risks by periodically assessing their climate risk exposure, estimating potential losses that could result from various climate-related scenarios, and maintaining a framework for public disclosure and reporting of climate risks affecting the bank.

Although many banks have made large investments in cybersecurity and data protection, banks must continue to maintain and improve their cybersecurity systems to address any potential new threats to their systems in the event of a cyberattack. Regulators are increasingly focused on technology risk management and new guidance and regulations continue to evolve. Directors must assess their incident response procedures and have systems in place for evaluation of third-party service providers and notification of security incidents that could affect the bank.

Social justice has gained increasing attention in the banking sector. Regulators have signaled renewed focus on equitable access to banking services, consumer protection, and discriminatory lending. Bank boards should examine and adjust their customer-facing procedures accordingly.

Listen as our authoritative panel discusses current risks of particular concern for banks and provides tips for counsel who advise boards of directors on steps needed to mitigate those risks.



  1. Current banking risks for bank boards: legal and regulatory
  2. Climate change: risk management, disclosure
  3. Cybersecurity: current and emerging risks and issues in focus for regulators
  4. Consumer protection, equal access to banking services, anti-discrimination initiatives


The panel will review these and other critical questions:

  • How should banks go about assessing the financial risks associated with climate change?
  • How are banks mitigating the risks of cyberattacks in light of the increased use of online and mobile app banking?
  • What kinds of cybersecurity protocols should a board put in place for third-party service providers?
  • What steps should banks be taking to protect themselves, and what disclosure controls should be in place to respond to a cyber incident?
  • What are the potential legal and regulatory consequences of discriminatory banking practices?


Friedlander, Nicole
Nicole Friedlander

Sullivan & Cromwell

Ms. Friedlander is a partner in Sullivan & Cromwell’s Criminal Defense and Investigations Group and co-head...  |  Read More

Treviño, Marc
Marc Treviño

Sullivan & Cromwell

Mr. Treviño is the co-head of the firm’s corporate governance practice, the managing partner of its...  |  Read More

Weiner, Benjamin
Benjamin H. Weiner

Sullivan & Cromwell

Mr. Weiner is a partner in Sullivan & Cromwell’s Financial Services and Capital Markets groups. His practice...  |  Read More

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