NAFCU's Long on CUbroadcast: Unemployment claims expected to exceed 3M
Joining CUbroadcast this week, NAFCU Chief Economist and Vice President of Research Curt Long shared an economic update with viewers in light of the coronavirus outbreak.
With new unemployment claim figures set to be released tomorrow, Long said he expects the number “to be astronomical” compared to previously reported data. "The all-time high for first time unemployment claims in a given week is around 700,000, and [NAFCU Research is projecting this week's figure to] exceed 3 million," said Long.
"It is critical to keep as many small businesses going as we can," added Long. "[The recovery will take some time, and] if we can keep that small business base intact, there will be a lot of demand once the shelter in place restrictions are relaxed."
"[Right now,] this is about trying to help get households and businesses get from here to the other side in one piece," noted Long. "But it is important to remember what is most important here, and that is dealing with the health crisis."
To help credit unions understand the current economic situation due to the coronavirus, NAFCU Research recently developed a new brief for credit unions. Additionally, the March edition of the Economic & CU Monitor report – now available for download – includes an economic forecast from Long.
To view Long's full interview with CUbroadcast, click here.
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
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