Credit unions are leading the call for data security legislation because they are “painfully aware” of how lax security can harm individuals’ financial security, CUNA Senior Director of Advocacy Lance Noggle wrote in Credit Union Times Friday.
CUNA and the National Credit Union Foundation have created a two-part complimentary webinar series to provide stakeholders with some of the most pressing trends, best practices, resources and preventative steps to combat and mitigate cybersecurity threats at credit unions.
The NCUA board will release a proposal on risk-based capital at its June 20 meeting. CUNA supported changes finalized by NCUA last year, but continues to believe the rule is an area in which NCUA could improve its regulations.
The National Credit Union Share Insurance Fund reported total income of $57.3 million and a net income of $24 million in the first quarter at Thursday’s National Credit Union Administration board meeting.
The National Credit Union Administration board became the first federal financial regulator to issue a revised proposed rule on incentive-based compensation at its Thursday meeting. The board voted unanimously to issue the joint rule, with comments due July 22.
The Federal Trade Commission will host a forum June 9 to explore the world of marketplace lending and its impact on consumers. CUNA filed a comment letter last year with the Treasury regarding such lenders.
UBS will pay the National Credit Union Administration $69.8 million in damages and interest for claims arising from losses to two corporate credit unions that failed during the financial crisis, the agency announced Friday.
Credit Suisse will pay the National Credit Union Administration $50.3 million in damages and interest for claims arising from losses to Members United and Southwest corporate credit unions, the agency announced Thursday.