Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
New CU reporting regs should treat training security concerns
WASHINGTON (5/29/09)—Although the Credit Union National Association (CUNA) supports the gains in efficiency, accuracy, and security that the National Credit Union Administration’s (NCUA) plan to modernize the credit union reporting system intends to create, CUNA has asked the NCUA to ensure that any potential deficiencies in software or personnel training will be addressed. In a recent comment letter, CUNA said that NCUA should grant credit unions the time needed to sufficiently train their employees on how to best use the new system, which will require federally-backed credit unions to submit their reports and other information to NCUA over the internet. According to NCUA’s proposed adoption schedule, natural person credit unions will adopt the new system during the third quarter of this year, with corporate credit unions set to adopt sometime in 2010. NCUA should also provide technical support, even if that support is only available during the early implementation stages of the new program. CUNA also supports NCUA policies that would ensure that the sensitive information held by federally-insured credit unions is properly secured throughout the reporting process. Use the resource link below to access the complete CUNA comment letter.


RSS print
News Now LiveWire
.@IllinoisLeague Hession: #HB5342 cause for celebration...will serve as a model across the country for state, fed regulators @GovernorQuinn
1 minutes ago
.@GovernorQuinn signs #HB5342 providing parity for state-chartered #creditunion examinations via @IllinoisLeague http://t.co/yrhoCkE4ER
40 minutes ago
.@Walmart's US CEO Bill Simon to step down, Greg Foran moves up via http://t.co/WIqJbYcapL
1 hours ago
.@NCUA just releases 3 segments of new online series to help CU managers, volunteers detect/deter fraud http://t.co/JgyRHcfgit
1 hours ago
.@USDA recognizes Royal #creditunion's $5M rural mortgage lending effort http://t.co/VMsvV0Mpbf
1 hours ago