GAO: Data Breach Policies Challenge Even Government Agencies

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.

A Shutdown Primer: What Happens When the Government Stops Working?

What happens during a government shutdown? Which agencies are affected, and how does a shutdown impact the Affordable Care Act?

NW Credit Unions Respond to Government Shutdown With Emergency Assistance, Money-Management Tools

Northwest credit unions are responding to a call today from the National Credit Union Administration to help members who may be affected by a federal government shutdown that went into effect at midnight Monday.

Northwest Credit Unions Urge Continued Access to Secondary Market

An analysis of active mortgage lending by Northwest credit unions finds 84% of first mortgages are with institutions approved to sell on the secondary market. As Congress prioritizes GSE reform, the NWCUA and CUNA are advocating for legislation protecting credit unions’ access to the secondary market.

‘Quantum Dawn 2’ Exercise to Test Cyber Security

Financial institutions are putting their security systems to the test in an elaborate drill organized by a large Wall St. Trade Group. “Quantum Dawn 2” follows a wave of cyber attacks late last year during which some banks had to temporarily shut down their websites after an attack overwhelmed them with traffic.

Washington Division of Credit Unions to Continue Operations, Regardless of Budget Process

Even if the Washington State Legislature fails in its second session to pass a budget, the Department of Credit Unions will continue to operate without interruption, Anthem has learned.

Legislators, Regulators Show Support for Oregon’s Credit Unions

Oregon State Treasurer Ted Wheeler, House Speaker Tina Kotek and DCBS Director Pat Allen all addressed credit union advocates at last Thursday’s Oregon Credit Union Day at the Capitol. “We want to help you be successful in any way we can,” Wheeler said.

Fifty-one Northwest Credit Unions Earn Capitol Advocacy Honors on Convention’s First Day

Immediately following the Annual Business Meeting on Tuesday afternoon, the Northwest Credit Union Association (NWCUA) recognized two credit union volunteers and 51 credit unions in the Northwest for their advocacy efforts over the past year.

Eurozone Crisis Has U.S. Consumers Seeking Financial Safety

More than a direct effect on the operations of financial institutions or the U.S. economy, the Eurozone situation is beginning to create concern among consumers for the safety of their money and the stability of the economy.

A Humorous and Factual Look at This Week’s Start of the Chinese New Year, from CEO John Annaloro

With Monday marking the start of the Chinese New Year, and with 2012 being dubbed the International Year of Cooperatives, CEO John Annaloro discusses the Association’s New Year’s resolution and the history behind the Chinese credit union movement.

Sen. Murray, Previous Supporter of Credit Unions’ Tax Exemption, to Co-Chair Powerful Committee Charged with Cutting Over $1.5 Trillion in Government Spending

The Northwest Credit Union Association is hopeful that Sen. Patty Murray’s appointment as co-chair of a new deficit reduction committee will be favorable to credit unions.

Legal Briefs

Rules and announcements from federal agencies impacting credit unions.

With S & P Downgrade, Credit Unions Should Review Investment Policies

Standard and Poor’s downgrade of the United States debt, along with dozens of U.S government related bonds issued by Fannie Mae and Freddie Mac warrants a review of credit unions’ investment policies.

With US Credit Rating Under Review, Contingency Plans Emerge

Some Wall Street giants are preparing to cut their use of U.S. Treasuries in favor of cash on hand as a precaution.

Treasury’s Federal Benefit Payments Clearing House Plan Open for Comment

Treasury is seeking comment on a revised proposal that would allow federal benefit payments to be made through the Automated Clearing House directly to prepaid debit card accounts.

U.S. Government Places Wall Street on Hook for $50 Billion in Corporate CU Losses

Clearly placing the nation’s financial crisis in the laps of Wall Street bankers, The National Credit Union Administration (NCUA) is threatening to sue several investment banks for their role in packaging bonds backed by poor quality mortgage securities.