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WASHINGTON — Many credit unions are not going to be in compliance with the Federal Financial Institutions Examination Council’s Guidance on Authentication in Internet Banking Environment by year-end despite their efforts, according to some industry experts.

When frequently asked questions on the guidance were issued Aug. 8, some were hoping for an extension of the compliance deadline, but the FFIEC agencies, which include NCUA, did not budge. In fact, according to NAFCU Director of Compliance Anthony Demangone, credit unions were somewhat thrown for a loop when the FAQs stated that high-risk transactions over the telephone were covered by the guidance’s principles. Authentication over the phone, he said, would be “cumbersome.”

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