Credit unions that do business in Massachusetts will have to take extra precautions to ensure that consumer data is protected from identity theft.

That's because on March 1, a new Bay State regulation takes effect that mandates that credit unions and other financial institutions have a written data security plan in place and designate someone responsible for protecting confidential information.

"If credit unions are already complying with the privacy standards set up by the NCUA, they won't have to do more," explained Robert Kimmett, senior vice president of marketing for the Massachusetts Credit Union League.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.