WASHINGTON (3/29/16)--Individuals wishing to provide feedback on the Federal Financial Institutions Examination Council Cybersecurity Assessment Tool will have the chance April 7, as part of a National Standards of Institute and Technology cybersecurity workshop.
Increasingly frequent and severe cyberattacks involving extortion sparked a warning to credit unions and other financial institutions from the Federal Financial Institutions Examination Council Tuesday.
The regulatory burdens for credit unions due to the Federal Financial Institutions Examination Council’s Cybersecurity Assessment Tool will be much greater than the council estimates, according to CUNA.
CUNA compliance staff met with National Credit Union Administration staff this week to discuss the details of the new Cybersecurity Assessment Tool issued by the Federal Financial Institutions Examination Council.
Since CUNA’s compliance staff compiled a list of changes in mortgage interest reporting under the IRS’s Form 1098, several questions have arisen. CUNA’s compliance staff has been able to connect with a coalition of consumer mortgage lenders to provide answers.
"We look forward to working with him going forward, particularly on getting the field-of-membership modernizations across the finish line," CUNA President/CEO Jim Nussle said Monday after learning NCUA Vice Chair Rick Metsger was named chair by President Barack Obama.