The NCUA stated the new rule, which was approved on Feb. 16, 2023, aims to mitigate cyber incidents “that [lead] to a substantial loss of confidentiality, integrity, or availability of a network or member information system...more
3/7/2023
/ Credit Unions ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Financial Institutions ,
Financial Services Industry ,
Information Governance ,
NCUA ,
New Regulations ,
Popular ,
Regulatory Requirements
The federal bank regulatory agencies issued a request for public comment this week on proposed interagency guidance designed to help banking institutions manage risks associated with third-party relationships....more
The Office of the Comptroller of the Currency (“OCC”) issued its long-anticipated final rule on Oct. 27, to establish a “simple, bright-line test” to determine when a national bank or federal savings association has made a...more
CFPB Director Kathleen L. Kraninger appeared Before the Senate Committee on Banking, Housing, and Urban Affairs on July 29 to deliver the Bureau’s most recent Semi-Annual Report to Congress. This report was particularly...more
The federal banking agencies recently issued principles to encourage financial institutions to offer small-dollar loans in a responsible manner (the “Small-Dollar Loan Principles”). This interagency guidance clarifies...more
Seven states have agreed to a multi-state compact standardizing key aspects of money services business (MSB) licensing. As of today, Georgia, Illinois, Kansas, Massachusetts, Tennessee, Texas, and Washington have joined into...more