NCUA Board Vice Chairman Rick Metsger told CU Times he has directed staff to draw up guidelines requiring credit unions to encrypt all of the data they provide to the NCUA or state examiners.
CU Times asked Metsger Thursday about the examiner who lost a flash drive containing the personal information of members from the $13 million Palm Springs Federal Credit Union in Palm Springs, Calif.
Metsger said an NCUA examiner should never accept non-encrypted information from a credit union that is not password protected on a storage device.
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