Trades Urge NCUA to Make Use of Cybersecurity Assessment Tool Voluntary
Both CUNA and NAFCU are urging NCUA to make use of the FFIECâs new cybersecurity assessment tool voluntary. While the FFIEC estimated that it should only take financial institutions about 80 hours to complete the assessment, both trades say the it will likely take credit unions hundreds of hours to complete the 55-page assessment. NCUA is expected to address the issue in a soon-to-be released Letter to Credit Unions. [9/21/15]
