News & Analysis as of September 19, 2024

Cybersecurity › National Credit Union Administration

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

[Webcast Transcript] Notable Trends in US Privacy Law

HaystackID on 2/29/2024

Editor’s Note: On January 17, 2024, HaystackID hosted a cogent webcast, “Notable Trends in US Privacy Law,” featuring HaystackID privacy and compliance expert Chris Wall, and an esteemed panel of privacy and compliance...more

Cybersecurity Awareness Month Series: FBI Director Asks for Help to Fight Cyber Attacks

Jackson Lewis P.C. on 10/3/2023

When hit with a cybersecurity attack, organizations are often not inclined to bring in federal law enforcement. Recent comments by FBI Director Christopher Wray at Mandiant’s annual mWISE 2023 conference seek to encourage the...more

Banking and Consumer Regulatory Digest - August 2023

Davis Wright Tremaine LLP on 8/29/2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

NCUA annual report to Congress covers cybersecurity

Orrick, Herrington & Sutcliffe LLP on 7/10/2023

On June 28, the NCUA released its annual report on cybersecurity and credit union system resilience to the House and Senate banking committees. The report outlines measures the agency has taken to strengthen cybersecurity...more

Nutter Bank Report: June 2023

Nutter McClennen & Fish LLP on 6/30/2023

The federal banking agencies have published new guidance to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology (fintech) companies. The new...more

You Have 72 Hours: NCUA Finalizes New Cybersecurity Incident Reporting Rule for Federally Insured Credit Unions

Bradley Arant Boult Cummings LLP on 3/13/2023

Federally insured credit unions are now required to report a cyber incident to the National Credit Union Administration (NCUA) Board within 72 hours. This final rule was unanimously approved by the NCUA on February 17, 2023...more

Cyber Capsule - February 2023

Troutman Pepper on 3/8/2023

Before we jump into February developments — trigger warning if you are a Russian hacker — for those keeping track of breach notification requirements, the National Credit Union Administration (NCUA) Board approved a final...more

NCUA Announces New Cyber Threat Reporting Requirement

Nelson Mullins Riley & Scarborough LLP on 3/7/2023

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

NCUA Approves New Cyber Incident Reporting Requirements: What Credit Unions Need to Know

Baker Donelson on 2/28/2023

The National Credit Union Administration (NCUA) has approved new cyber incident reporting requirements for credit unions. Under the final rule, federally insured credit unions will be required to notify the NCUA of a...more

NCUA approves final cyber incident reporting rule

Orrick, Herrington & Sutcliffe LLP on 2/22/2023

On February 16, the NCUA approved a final rule that requires federally-insured credit unions (FICUs) to notify the agency as soon as possible (and no later than 72 hours) after a FICU “reasonably believes that a reportable...more

Four Cybersecurity Law Issues for Financial Services to Track in 2023 | Insights

Venable LLP on 2/17/2023

The financial services sector must already contend with a maze of regulations in a variety of areas, and 2023 is poised to usher in new cybersecurity regulations for the industry. Organizations should ensure their security...more

Cyber Capsule - July 2022

Troutman Pepper on 8/9/2022

Welcome to the third edition of Troutman Pepper's Cyber Capsule, which recaps last month's noteworthy developments, including updates to new rules and cybercrime sharing and other tidbits relating to cybersecurity. From a...more

Daily Financial Regulation Update -- Friday, July 1, 2022

Paul Hastings LLP on 7/1/2022

June 30, 2022- The Task Force on Financial Technology held a hearing entitled, "Combatting Tech Bro Culture: Understanding Obstacles to Investments in Diverse-Owned Fintechs."...more

Federal Regulators' Artificial Intelligence Initiative Is a Promising Development for Financial Industry (Update)

Davis Wright Tremaine LLP on 5/18/2021

Update: On May 17, 2021, the agencies extended the deadline for comments from June 1, 2021, to July 1, 2021. The text of this post has been updated accordingly....more

Fintech Week in Review - April 2021

Perkins Coie on 4/9/2021

Federal Financial Regulators Seek Information on the Use of AI by Financial Institutions - On March 29, 2021, five federal financial regulatory agencies (the Federal Reserve, CFPB, FDIC, OCC, and NCUA) announced a request...more

Federal Regulators' Artificial Intelligence Initiative Is a Promising Development for Financial Industry

Davis Wright Tremaine LLP on 4/6/2021

The federal financial institutions regulatory agencies collectively issued a Request for Information and Comment (RFI) on March 31, 2021, to better understand how artificial intelligence (AI) and machine learning (ML) are...more

Continued Support for AI from the Financial Services Regulators

Nelson Mullins Riley & Scarborough LLP on 4/2/2021

On March 29, 2021, the primary federal bank regulators (the Federal Reserve, CFPB, the FDIC, the NCUA, and the OCC) issued a request for information to gain input on the growing use of Artificial Intelligence (“AI”) by...more

2017 Resolutions for Community Banks: A Focus on Cybersecurity

Hogan Lovells on 1/13/2017

In December 2016, Thomas Curry, the Comptroller of the Currency, stated that cybersecurity was the single greatest systemic threat to our financial system. He was not being hyperbolic. Cybersecurity should be on...more

FFIEC Weighs in on Cybersecurity in Light of Unprecedented Risk of Cyber Threats

Carlton Fields on 10/7/2015

As financial institutions of all sizes continue to face unprecedented cybersecurity risk, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool. The Assessment is...more

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Orrick, Herrington & Sutcliffe LLP on 8/26/2015

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

Protecting financial institutions in cyberspace—U.S. financial regulators come up with a new tool kit to stem cyberthreats

Robinson+Cole Data Privacy + Security Insider on 8/24/2015

The Federal Financial Institutions Examination Council (FFIEC) has recently developed a new tool to help U.S. financial institutions combat the increasing volume and sophistication of cyber attacks. To blunt threats to a...more

FFIEC Releases Cybersecurity Assessment Tool

Manatt, Phelps & Phillips, LLP on 7/22/2015

Why it matters - As anticipated, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool, providing a process for financial institutions' management to gauge their...more

FFIEC’s Cybersecurity Assessment Tool: Guidance for CEOs and Boards - Senior Management and Boards Should Be Actively Addressing...

Holland & Knight LLP on 7/9/2015

The Federal Financial Institutions Examination Council (FFIEC) released a Cybersecurity Assessment Tool (CAT) on June 30, 2015, to assist organizations in identifying cyber risks and assessing their cybersecurity...more

New 2015 Laws Update Data Breach and Identity Theft in Washington and Oregon - Both States Set New Requirements for Notifying...

Holland & Knight LLP on 6/12/2015

Washington and Oregon both recently updated laws that define data security and incident response requirements for breaches of consumers’ personal information. Details of these new requirements for each state are below. ...more

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Cybersecurity › National Credit Union Administration

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