The NCUA in the 13-Risk-01 Letter to Credit Unions, Mitigating Distributed Denial-of-Service Attacks, discussed DDoS and managing DDoS risk. This white paper will focus on what DDoS is and what you can do as a credit union to protect yourself, as well as prepare for examinations. 2013-4-29 DDoS Assessment Whitepaper – FINAL
Best Practices
Credit Union Liability for Security Breaches and Consumer Notification
The following three whitepapers can help a credit union understand their liability for a security breach under Uniform Commercial Code 4A (UCC 4A), negligence theories, and consumer notification. Reading these in order (SM001, 002, and 003) will provide the reader with a better understanding of the entire picture regarding credit union liability for security breaches. […]
FFIEC Releases Social Media Guidence Letter
The FFIEC has released a proposed Social Media Guidance document for public comment. Credit unions should be aware that if this guidance is released in final form, it is likely that the NCUA will adopt this document and require compliance with the guidance. The content and our opinion of the document can be summarized as […]
Regulation CC changes
Effective July 21, 2011, section 1086 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 amends the Expedited Funds Availability Act by increasing the amount from $100 to $200 that must be available for withdrawal by opening of business on the next day. Your credit union will need to review your disclosures relating […]
Are you monitoring your dormant accounts?
The Credit Union Times recently posted an article where an employee of a small California Credit Union embezzled $1.2 Million from dormant accounts. The former employee was able to transfer funds from dormant accounts to accounts that were controlled by her and her husband. This lead to the eventual closing of the Credit Union in […]
Good Director Practices I – Fundamentals
Recently CU*Answers taught a class on the basic responsibilities and mechanics of being a board member. This class is the first in a set of three on good practices for board members, and can be applied for board members who sit on credit unions and non-profits, as well as individuals who sit on for-profit boards. […]