March 26, 2014

NAFCU webcast on Target breach today

March 27, 2014 – NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt joins Bruce Jolly, a partner at Reed & Jolly, in a NAFCU webcast today on the massive data security breach at Target Corporation, its impact on credit unions and a class action lawsuit underway.

In a discussion moderated by Hunt, Jolly will go over the claims that have been filed against Target, how credit unions can decide whether to join the class action suit and what lessons can be applied from previous data breach cases such as Hannaford and TJ Maxx. Jolly will also discuss cybersecurity requirements for credit unions.

The webcast starts at 2 p.m. Eastern and is particularly recommended for credit union executives and credit union staff who deal with risk and compliance.

In another NAFCU webcast on Wednesday, Guy Messick, a partner at Messick & Lauer, went over the new rules for dealing with credit union service organizations, or CUSOs.

Messick discussed NCUA rule changes set to go into effect June 30 that are meant to give the agency a better understanding of risks a CUSO might pose. Messick, who has served as general counsel to the National Association of Credit Union Service Organizations since 1987, spoke about the new requirements for direct reporting and their implications. He also explained impacts of the proposed risk-based capital rule on investment in CUSOs.