NCUA talks cyber, reaffirms FFIEC tool is voluntary

first_imgNCUA continues to educate and train its examiners in the area of cybersecurity, hopes to improve its tools and processes early in the third quarter of 2017 and plans to roll out updated processes by the following quarter, agency staff told the NCUA Board Thursday.Thursday’s open meeting included no regulatory action. The only two items up were the cybersecurity briefing and a quarterly report on the Temporary Corporate Credit Union Stabilization Fund.During the cybersecurity briefing, Tim Segerson, deputy director of the Office of Examination and Insurance, and Wayne Trout, supervisor of the Division of Critical Infrastructure and Cybersecurity, provided an update on use of the Federal Financial Institutions Examination Council’s cybersecurity tool. They noted the tool remains voluntary for credit unions. To be clear, they said they don’t have any expectations that credit unions are using the tool to determine their cybersecurity positions.“With the agency’s recently adopted use of the [FFIEC] Cybersecurity Assessment Tool during credit union exams, we are gratified the agency has heeded our concerns and plans to keep the use of the tool voluntary for credit unions,” said NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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