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NAFCU's Cybersecurity and Payments Committee will meet today to discuss proposed updates to the National Institute of Standards and Technology cybersecurity framework and recent developments related to fintech companies.

Last week, the Office of the Comptroller of the Currency proposed a draft licensing manual supplement to explain how the agency would evaluate charter applications from fintech companies. NAFCU continues to urge the OCC to hold those companies to a level of regulation and supervision that ensures fair competition with credit unions and others.

The committee will also review the recent testimony of Chevron Federal Credit Union President and CEO Jim Mooney on behalf of NAFCU before a House Small Business Committee panel. Mooney, who chairs the NAFCU committee, testified regarding credit unions' commitment to cybersecurity and the importance of establishing a national data security standard for retailers to protect consumers from data breaches.

The committee will also discuss the recent meeting of the Federal Reserve Secure Payments Task Force, of which NAFCU is a member.