Internet Banking News

July 5, 1999

1) An article published by Reuters entitled "Study Says Banks Not Ready For Internet" states that no major bank has fully prepared for the impact of the Internet on the banking industry. The article prepared from a report by the accounting and consulting firm of PriceWaterhouse Coopers can be found at http://www.techweb.com/wire/story/reuters/REU19990621S0002/.

2) A $4 billion bank in Kansas City is having some real problems with it's Internet banking site. For one, it's phone number connected to a sex line. To read about their list of problems, visit UMB.

COMMENT: This is one good reason to have your web site audited before it is open to the public.

3) The FFIEC Internet guidelines state "Financial institutions that advertise deposit products and services on-line must verify that proper advertising disclosures are made in accordance with all provisions of 230.8. Institutions should note that the disclosure exemption for electronic media under 230.8(e) does not specifically address commercial messages made through an institution's web site or other on-line banking system. Accordingly, adherence to all of the advertising disclosure requirements of 230.8 is required."

COMMENT: The link to the Truth-in-Savings is http://www.fdic.gov/lawsregs/rules/6500-27.html#6500/. Section 230.8 is about advertising.

Back Button

Go to the Bank Web Site Audit home page.

Company Information
Yennik, Inc.

4409 101st Street
Lubbock, Texas 79424
Office 806-798-7119
Examiner@yennik.com

 

Please visit our other web sites:
VISTA penetration-vulnerability testing
The Community Banker - Bank FFIEC & ADA Web Site Audits
Credit Union FFIEC & ADA Web Site Audits - Bank Auditing Services
US Banks on the Internet  
US Credit Unions on the Internet

All rights reserved; Our logo is registered with the United States Patent and Trademark Office.
Terms and Conditions, Privacy Statement, Copyright Yennik, Incorporated