News & Analysis as of

Cyber Attacks National Credit Union Administration

Jackson Lewis P.C.

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

Jackson Lewis P.C. on

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

Bradley Arant Boult Cummings LLP

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

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

Baker Donelson

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

Baker Donelson on

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

Davis Wright Tremaine LLP

NCUA Approves 72-Hour Cyber Incident Reporting Requirement

The National Credit Union Administration (NCUA) has approved a final rule requiring federally chartered and federally insured credit unions to notify NCUA of a "reportable cyber incident" "as soon as possible and no later...more

Hogan Lovells

2017 Resolutions for Community Banks: A Focus on Cybersecurity

Hogan Lovells on

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

Carlton Fields

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

Carlton Fields on

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

Orrick, Herrington & Sutcliffe LLP

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

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

Robinson+Cole Data Privacy + Security Insider

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

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

Holland & Knight LLP

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

Holland & Knight LLP on

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

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

FSB Consults on Total Loss-Absorbing Capacity for G-SIBs - On November 10, the Financial Stability Board (FSB) published a consultation paper on proposals on the adequacy of total loss-absorbing capacity (TLAC) of...more

Goodwin

FFIEC Issues Joint Statements on DDoS Cyber-Attacks and Cyber-Attacks on ATM and Card Authorization Systems

Goodwin on

On April 2, 2014 the members of the Federal Financial Institutions Examination Council (“FFIEC”) issued two joint statements: the first joint statement regards distributed denial-of-service (“DDoS”) attacks, and the second...more

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