cybersecurity, NCUA, NAFCU, alicia nealon, debbie matz NCUA Chairman Debbie Matz noted in the Feb. 20, 2015 CU Times article, "NCUA Ramps Up Vendor Oversight," that NCUA third-party vendor examination authority was necessary now more than ever due to cyberthreats.

While cybersecurity is an extremely important issue, NAFCU does not believe that cybersecurity and third-party vendor authority go hand in hand. As we have consistently maintained, NAFCU believes the agency's bid for third-party vendor examination authority is unnecessary given that the NCUA is already authorized to thoroughly regulate credit unions and their third-party relationships.

Further, NAFCU questions the NCUA's choice to prioritize this request on its legislative agenda, and we firmly disagree with the NCUA's assertion that such authority would provide any regulatory relief for credit unions.

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

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.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.