The Board of Governors of the Federal Reserve System is updating the records system for the Office of Inspector General (OIG) personnel as per the Privacy Act of 1974. These updates include adding video and audio recordings to the records, in compliance with certain parts of Executive Order 14074, addressing ethical inquiries, and including potential employees in the system. The Board revised some rules and uses of this information to aid in personnel decisions like hiring and promotions. They are also implementing technical changes to the system to improve privacy and security.
Simple Explanation
The people who keep track of rules for a big money bank are making changes to how they keep track of their employees, like adding new ways to look at and listen to their work, so they can make better decisions about who to hire and promote. They want to keep everything safe, but some changes might need more explaining to ensure everyone feels okay about their privacy.