Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
CUNA at Treasury talks of IT improvements for FIs
WASHINGTON (3/19/14)--The Credit Union National Association attended a recent U.S. Treasury Department discussion on how information technology (IT) is transforming financial institutions.
 
Treasury Assistant Secretary for Financial Institutions Cyrus Amir-Mokri in introductory remarks said the agency is interested in the role of IT changes on the broader financial system, business models, communications to consumers, compliance and the regulatory framework.
 
During the event, different perspectives regarding investment banking, asset management, commercial banking and academia were presented.
 
Several points that credit unions may be interested in include:
  • Technology is changing the financial services landscape rapidly, including non-traditional providers;
  • Vendor and overall risk management are very important for financial institutions; and
  • Additional coordination among financial institutions and various regulators would be helpful to address evolving IT data standards, compliance and risk management issues.
Members of the Financial Services Sector Coordinating Council and other stakeholders also attended the discussion, and CUNA and these groups will continue to coordinate on these issues.


RSS





print
News Now LiveWire
It's Monday, time for another data breach release: @Uber's driver database via @pymnts #Stopthedatabreaches http://t.co/UoMcy4j5n4
21 minutes ago
.@Nussle, Cummins share #creditunion difference with Minn. biz journal http://t.co/7EZ4FdgfD9
45 minutes ago
.@cuna #GAC2015 countdown: @USTreasury 's Gerety, @CFPB 's Martinez join power-packed lineup http://t.co/nHNJ81tGbi
1 hour ago
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
21 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago