Weekly Rewind...News from Your Regulators

The 2023 CSG Audit calendar is now open!!!

Contact us to schedule your 2023 Regulatory Compliance Reviews. Visit our website at complianceservicesgroup.com or email our Lead Auditor directly at tricia.briggs@complianceservicesgroup.com.

NCUA Approves Reportable Cyber Incidents

Reportable Cyber Incidents – The NCUA approved a final rule, effective September 1, that requires federally insured credit unions to notify the NCUA as soon as possible, within 72 hours, after it reasonably believes that a reportable cyber incident has occurred. Under the final rule, federally insured credit unions are required to report a cyber incident that leads to a substantial loss of confidentiality, integrity, or availability of a network or member information system as a result of the exposure of sensitive data, disruption of vital member services, or that has a serious impact on the safety and resiliency of operational systems and processes. Additionally, cyberattacks that disrupt a credit union’s business operations, vital member services, or a member information system must be reported to the NCUA within 72 hours of a credit union’s reasonable belief that it has experienced a cyberattack.

FFIEC CRA Data Entry Software Now Available

2023 CRA Data Entry Software – The FFIEC announced that the 2023 CRA Data Entry Software is now available on the FFIEC’s website. The free software includes editing features to help verify and analyze the accuracy of the data. The data file created using this software, can be submitted by one of the available submission methods listed in the software.

Visit our Website!