Cloud computing solutions are becoming more popular in all industries, but American Banker said financial institutions may experience more compliance issues than other companies with cloud solutions and more official guidance may be needed.

"The FFIEC guidance does not spell out what you need to do, it's a document that talks about things to be concerned about," Rod Nelsestuen, a senior research director at CEB TowerGroup, said about the Federal Financial institutions Examination Council. The news source said this group defines the cloud as a migration from owned resources to shared resources.

With this in mind, American Banker said financial institutions must be doing a good job vetting potential cloud computing providers. For smaller institutions, bankers and executives should meet with a consultant who has an expertise in consulting practices to see which companies can help banks meet regulatory compliance guidelines.

A separate article from American Banker said that the National Australia Bank is using cloud computing solutions to become more environmentally friendly, cut its travel fleet and cut waste and paper use by about 20 percent. Banks and other financial businesses should see similar positive results after implementing the right cloud based services for themselves.