Merchants and financial institutions aren’t the only ones with data breach headaches. A recent U.S. Government Accountability Office study reviewed eight federal agencies and found that while they “generally” developed data security breach policies and procedures, they inconsistently implemented them.
Your weekly update on the regulatory landscape.
Following a study by the GAO into the regulatory oversight of compliance with the Servicemembers Civil Relief Act, credit unions should evaluate their related policies and procedures in anticipation of increased SCRA focus in upcoming examinations.
Your rundown on the regulatory landscape.
The NWCUA’s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here are updates on a recent GAO report and an NCUA data request.
The GAO found that while authorities had the right to examine foreclosure activities, those activities were not looked into.