NAFCU pledges to support savings initiatives
At the America Saves Summit Wednesday, NAFCU pledged to promote programs and resources designed to help Americans save. NAFCU consistently shares credit unions' financial education efforts to help members reach their financial goals and was the only financial services industry trade to join the pledge at the event.
During the summit, attended by NAFCU Regulatory Affairs Counsel Kaley Schafer, CFPB Director Kathy Kraninger and NCUA Chairman Rodney Hood shared how their agencies are working to promote financial literacy.
Kraninger said the bureau is focused on establishing partnerships and leveraging shared resources to educate consumers about the importance of savings. A report from the bureau earlier this year found that many consumers don't have enough liquid savings to cover unexpected, emergency expenses and launched an initiative – "Start Small, Save Up" – to address the issue. Following the initiative's launch, NAFCU teamed up with the bureau to offer a webinar that covered financial literacy efforts and ways to encourage consumers to save.
Hood said the NCUA is exploring how credit unions can offer products and services that promote savings as consumer behaviors change and new technologies emerge. As a result, the agency will need to modernize its own tools and regulations and is creating an innovation center focused on doing so. In addition, Hood stressed the importance of expanding access to affordable financial institutions.
"This will require us to utilize technology, form new public-private partnerships, and support community-based depository institutions, like credit unions and community banks, which are often the only federal insured, financial service providers in many of our underserved communities," Hood said at the event. "But, we must do more, as we can no longer afford to have so many of our citizens outside of the financial mainstream."
NAFCU will continue to work with lawmakers and regulators to ensure credit unions have the ability and resources to help Americans make well-informed financial decisions and protect vulnerable populations from financial exploitation.
Add to Calendar 2020-03-26 14:00:00 2020-03-26 14:00:00 Data Breaches – Mitigation and Response Strategies As data breaches continue to make the headlines credit unions are challenged to maintain member confidence in their ability to recognize, react and respond to intrusions in order to safeguard member financial information and transactions. A core component of cybersecurity risk management is a well-designed Incident Response program that supports the credit union’s needs. This session will summarize up to date information on the latest cybersecurity risks and how breaches occur. We will also explore regulatory guidance and current practices for a credit union to define and manage an incident response program. Key Takeaways Understand the latest developments in ransomware and account take over attacks Explore case studies from recent intrusions, breaches and lessons learned from each case study Learn how to describe key risks and controls to mitigate and respond to breaches in Office 365 Understand the various aspects of the “Cybersecurity Kill Chain” Define key strategies to test your institution’s Incident Response program Register Now$295 Members | $395 Nonmembers (Additional $50 for CD) One registration gives your entire credit union access to the on-demand recording until March 26, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Compliance staff Risk management staff Legal staff Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar. NCRMs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Understand the latest developments in ransomware and account take over attacks. Explore case studies from recent intrusions, breaches and lessons learned from each case study. Learn how to describe key risks and controls to mitigate and respond to breaches in Office 365. Understand the various aspects of the "Cybersecurity Kill Chain". Define key strategies to test your institution's Incident Response program. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics - Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
Credits: NCCO, NCRM, CPE
Get daily updates.
Subscribe to NAFCU today.