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NAFCU this week will continue its efforts to create a strong national data security standard as the Senate Banking Committee holds a hearing on credit bureaus' data protection. Beverly Zook, president and CEO of Money One Federal Credit Union, will also testify in the NCUA's budget hearing and the association will monitor the NCUA Board's consideration of two proposals related to exam appeals.

Additionally, Thursday is the compliance deadline for the CFPB's final amendments to its mortgage servicing rules. NAFCU has a host of resources on the rules available here.

The Senate Banking Committee's hearing begins at 10 a.m. Eastern tomorrow. During the hearing, committee members will hear from two experts on the responsible use of consumer data and how to uphold consumers' right to privacy.

Senate Banking Chairman Mike Crapo, R-Idaho, last week sent a letter to three federal agencies questioning their ability to oversee credit bureaus and ensure consumer data is protected. He requested their responses by this Friday.

NAFCU continues to call for a national data security standard that holds all entities that handle personal financial data to the same standards as credit unions and other depository institutions under the Gramm-Leach-Bliley Act (GLBA). The association also advocates that credit rating agencies already subject to parts of the GLBA, like Equifax, be subject to the same regulatory requirements as depository institutions

The House is out this week working in their home districts. NAFCU encourages credit unions to contact their representatives and share their thoughts on the importance of preserving the industry's tax exemption, passing a national data security standard and furthering regulatory relief efforts. More information is available at NAFCU's Grassroots Action Center.

The NCUA Board has two meetings this week. Wednesday's meeting begins at 2 p.m. Eastern and will discuss the agency's recently proposed budget for 2018-2019. NAFCU continues to review the budget, which includes reductions to staff and regional offices. It is during this meeting that Zook will provide testimony on the budget proposal on behalf of NAFCU.

Thursday's NCUA Board meeting begins at 10 a.m. Eastern, during which the board will take up its two proposals regarding credit union processes for appealing exams and will issue a proposal on capital planning and supervisory stress testing. It will also issue a proposal on capital planning and supervisory stress testing, hear a National Credit Union Share Insurance Fund quarterly report and issue a request for information on electronic loan, deposit and investment data collection during Thursday's meeting.

To read NAFCU's official comment letter in support of the NCUA's proposal to standardize the appeals process for regulations, click here.

To read the association's official comment letter in support of the NCUA's proposal to expand the number of appealable supervisory determinations, click here.