The FDIC’s Story on Data Breach Response

The FDIC has been plagued with a number of data breaches recently, and a congressional report details the story and facts, along with FDIC’s cooperation (or lack of), relating to two breaches caused by separating employees removing confidential information.  The report is an interesting read, and provides a lot of how-not-to report and respond. The report details one story and … Read More

Semiannual Risk Perspective

The OCC released its Semiannual Risk Perspective for Spring 2016, which reveals that strategic, credit, operational, and compliance risk remain top concerns, with interest risk following closely. While the OCC is not a regulatory agency for credit unions, it does oversee national banks and federal savings associations, and provides a perspective on industry trends. The report highlights key risk issues … Read More

Online Payment Process for DCU Semi-Annual Asset Assessment Fees

Online Payment Process for DCU Semi-Annual Asset Assessment Fees DCU Bulletin B-16-09, July 7, 2016 Chapter 31.12 RCW authorizes the Director to charge fees to credit unions and certain other persons in order to cover the costs of the operation of the division of credit unions and to establish a reasonable reserve for the division. Chapter 208-418 WAC is amended … Read More

Regulation P Proposed Amendment

On July 1, the CFPB released proposed amendments to Regulation P, to align the regulation with the changes to the GLBA that took place last year.  If you remember, in December 2015, the GLBA was amended to provide an exemption to financial institutions from the requirement to provide an annual privacy notice.  If the institution does not allow the customer … Read More