NCUA Boardroom. (Photo: NCUA) NCUA Boardroom. (Photo: NCUA)

With a unanimous vote Thursday, NCUA board members approved the cyber incident reporting requirement final rule in which federally insured credit unions must report to the agency when a “reportable cyber incident has occurred.” The incident must be reported to the NCUA within 72 hours.

According to the final rule, “federally insured credit unions are required to report a cyber incident that leads to a substantial loss of confidentiality, integrity or availability of a network or member information system as a result of the exposure of sensitive data, disruption of vital member services, or that has a serious impact on the safety and resiliency of operational systems and processes.”

Michael Ogden

Editor-in-Chief for CU Times.

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