ALEXANDRIA, Va. - (04/06/04)In a Letter to Credit Unions sentWednesday, NCUA offered guidance on how to comply with the SecurityGuidelines included in the Gramm-Leach-Bliley Act and the Fair andAccurate Credit Transactions Act that call for protectingmembers and other consumers personal information.Nonmembers protected under the guidelines could include someone whoapplies for but doest not obtain a loan, an individual whoguarantees a loan or an employee or prospective employee. NCUA saidA credit union must require its service providers that have accessto consumer information, by contract, to develop appropriatemeasures for the proper disposal of the information. Additionally,credit unions must develop and maintain an effective informationsecurity program tailored to the complexity of itsoperations and require its third-party vendors with accessto the credit unions information take appropriate steps toprotect the security and confidentiality of thatinformation.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3