Newsroom

April 13, 2020

NAFCU's LaBerge details NCUA's view on managing teleworking risk

securityFollowing NAFCU's discussion with the NCUA's Johnny E. Davis on cybersecurity and privacy risks during the coronavirus pandemic, NAFCU Senior Regulatory Counsel Elizabeth LaBerge provided insights into the group's discussion in a new post on the member-only Compliance, Risk & BSA Network.

Davis currently serves as the agency's division director for critical infrastructure and special advisor to the chairman for cybersecurity.

The group discussed a number of issues related to the increase in emergency teleworking measures credit unions have implemented, including:

  • struggles credit unions were experiencing in establishing emergency telework procedures;
  • heightened cyber threat risk as reported by the FBI and others; and
  • the agency’s cybersecurity examination approach considering these unique circumstances.

In the post, LaBerge detailed NCUA’s perspective and shared helpful resources for credit unions to use as they implement telework policies.  

NAFCU continues to urge lawmakers to consider a national data security standard for institutions that collect and store consumer information and has a number of resources available to ensure credit unions can  effectively identify and address cybersecurity concerns. 

The association also developed a detailed white paper outlining six principles to support its advocacy efforts on the issue.

NAFCU members are encouraged to access LaBerge's full blog post on the member-only Compliance, Risk & BSA Network. The association will continue to work with regulatory agencies, including the NCUA, to share credit union concerns during the coronavirus pandemic.