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News Now

Washington
NCUA Security Office Plan Noted In CUNA Reg Advocacy Report
WASHINGTON (11/13/13)--In this week's Regulatory Advocacy Report, the Credit Union National Association details the National Credit Union Administration's plans for a new security department.

The new office will focus on agency security and the continuity of operations, which includes natural disasters and other emergency events.

According to NCUA, this office is meant to consolidate the agency's various security functions under one office instead of the current decentralized model.

CUNA noted the office is unlikely to directly impact the operations of credit unions. "We agree security is important, but we have concerns about agency costs and urge the agency to minimize them whenever possible," CUNA Deputy General Counsel Mary Dunn said.

Other items addressed in this week's Regulatory Advocacy Report include:
  • CUNA's continued mortgage regulation advocacy efforts;
  • A Consumer Financial Protection Bureau Advance Notice of Proposed Rulemaking on debt collection;
  • Proposed interagency diversity assessment standards;
  • The NCUA's posting of comment letters on its charitable donation account proposal; and
  • An update on payment card industry data security standards.
A resource chart with information on current CUNA comment calls is also provided in the Report.

For this week's Regulatory Advocacy Report, CUNA members can use the resource link.
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