Best Practices Lead to Best Results

 As regulators shift focus, fully disclosed financial services still matter by Cheryl Lawson, EVP-Compliance Review   Following the recent passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) – which was intended to roll back some of the regulations of the Dodd-Frank law for smaller financial institutions – the Bureau of Consumer Financial Protection […]

Protect your credit union from cybercrimes

Some of the largest corporations with the best access to security have been hacked and breaches are in the news almost every week. LEVERAGE, an affiliate of the League of Southeastern Credit Unions has cyber security solutions tailored for credit union needs, including monitoring, audit, and compliance services. LEVERAGE is introducing two new products specifically designed […]

Financial trades ban together on data breach

Major merchant data breaches continue to put millions of consumers at risk. Credit Union National Association (CUNA) is joining with a coalition of financial trade associations to push for legislation that requires stronger data security standards for retailers. In a joint letter with the American Bankers Association (ABA), Consumer Bankers Association (CBA) and Independent Community Bankers of America (ICBA), CUNA urges Rep. Bob Latta (R-Ohio), chair of the House Energy and Commerce Subcommittee on […]

FASB proposes modifying effective date of CECL standard

In promising news for credit unions on the compliance front, the Financial Accounting Standards Board is proposing to modify the effective date of its Current Expected Credit Losses standard for non-public companies. If approved, this change will allow private banks and credit unions an extra year to get ready for the new rules. Technically, the […]

Treasury Dept. endorses data breach standard

A Fintech White Paper released Tuesday morning by the U.S. Dept of  the Treasury includes an endorsement of a national data breach notification standard and other measures to help “smaller institutions” improve cyberprotections. This gives credit unions and smaller financial organizations a more prominent ally in their corner. Read more here in  this fact sheet.

CUNA launches ‘Stop the Data Breaches’ MAP campaign

CUNA launched its latest Member Activation Program (MAP) Campaign this week, “Stop the Data Breaches,” focused on educating and activating members to call on members of Congress to enact data breach legislation. CUNA will be hosting a free, members-only Stop the Data Breaches webinar Tuesday, July 31 at 3 p.m. ET. “Credit unions know what a serious issue data […]