Links in “Credit Unions”

In order from most critical, the Center for Internet Security has compiled a list of the best security controls for credit unions. Most of the controls listed are pretty affordable, although they all require diligence from the IT department. [5/6/15]

Adding to the never ending list of hacked credit and debit card information, The Hard Rock Hotel & Casino Las Vegas announced a data breach. In a statement, the Hard Rock said the breach potentially affected consumers' names, card numbers, CVV codes, but not PIN numbers. The breach occurred from Sept. 3, 2014 to April 2, 2015.  [5/5/15]

In this high stakes regulatory world, it's more important than ever for a CU to stay compliant; this takes quite a bit of time and resources. That's why organizations have started putting more stock in hiring and tasking entire departments under a chief risk officer. [5/5/15]

Examinations can often turn into adversarial situations, but that doesn’t have to be the case.  Here are some common-sense useful tips that can improve your exam experience. [5/4/15]

The bill calls for national data security standards and applies to companies that are not currently under federal regulatory requirements to protect consumer information.  The bill would require these companies to have comprehensive, tested data security programs in place that are appropriately based on the complexity and scope of the company’s operations and the sensitivity of the information it collects. [5/4/15]

A House bill would allow relief from threats of enforcement or lawsuits for financial institutions that demonstrate “good faith efforts” to comply with the new TILA/RESPA combined disclosures that go into effect on August 1, 2015.  The proposed relief period would extend through the end of 2015. [5/4/15]

After pleading guilty to six-figure fraud schemes, the two former credit union employees were banned from federally-insured financial institutions by the CNUA. The two were also ordered to pay six-figure restitution fees. [5/1/15]

A recent cease and desist order to the $613 million Alabama One Credit Union is it's last chance to avoid conservatorship, The Alabama Credit Union Administration told an Alabama Court. The order comes after the credit union's repeated failure to comply with previous administrative remedies. [5/1/15]

The NCUA liquidated TLC Federal Credit Union, an $803 million credit union based in Tillamook, Oregon. Fibre Federal Credit Union of Washington takes over. [5/1/15]

Does your credit union have a strong “Bring Your Own Device” (BYOD) policy regarding employees that use their own personal devices (smartphones, iPads, etc) for work-related purposes? If not, you may be at risk for issues related to overtime reporting, work-related information versus personal information, smartphone bill reimbursement, and e-discovery in civil and criminal cases. [4/30/15]