Cybersecurity Resources

The FDIC’s Winter 2015 Supervisory Insights includes an article on framework for cybersecurity.  With cybersecurity being a focus for both the NCUA and the DFI in 2016 exams, along with the risks associated with cyber threats, the article is a good read for credit unions (even if it is published by the competition). The article describes the evolving cyber threat … Read More

FTC ID Theft Website

The FTC has updated its website to include a simplified step-by-step checklist directed at specific types of identity theft that consumers may be facing. When a consumer initiates a response plan through IdentityTheft.gov, the site automatically generates affidavits and prefills letters and forms to be sent to credit bureaus, businesses, police, debt collectors and the Internal Revenue Service. Should a … Read More

Enhanced Share Insurance Coverage

The NCUA issued Letter 16-RA-02 that discusses the enhanced insurance coverage for IOLTA, real estate escrow, and prepaid funeral accounts. The letter also includes an attachment – Guidance on Enhanced Share Insurance, which provides more information. The letter states: Dear Board of Directors and Chief Executive Officer: As of January 27, 2016, three types of credit union accounts are eligible … Read More