March 18, 2014

NAFCU talks data security, capital during member call-in

March 19, 2014 – NAFCU members were briefed on data security issues as well as NCUA's risk-based capital proposal yesterday during NAFCU's member call-In, "A Credit Union Industry Update," hosted by the association's senior staff.

NAFCU President and CEO Dan Berger began the call by explaining the association's concerns with the rules and regulations that continue to come out of CFPB and NCUA, including NCUA's latest risk-based capital proposal. "I want to be very clear that NAFCU's staff and board of directors have serious concerns with this rule," Berger said. "We truly believe enough is enough."

Berger also updated NAFCU members on the association's continued push for a national data security standard regarding the ongoing news of merchant data breaches. "NAFCU is leading the fight for holding retailers accountable," said Berger.

Numerous credit unions from across the country registered for Thursday's call, which also addressed member business lending, legislative activity regarding CFPB, NAFCU's 2014 tax study, the debit card interchange fee court case, NAFCU's new risk-based net worth calculator and congressional action taken on housing finance reform, flood insurance and privacy disclosure notices.

The recording from Tuesday's call is available online (login required).