WASHINGTON - (04/20/06) NCUA is working to extend itspowers to examine third-party credit union vendors as a way to helpmonitor for credit card breaches. NCUA Vice Chairman Rodney Hoodsaid Wednesday the ability to audit outside vendors would be animportant asset in tracking the kind of credit card breaches thathave infected the industry lately. NCUA should be allowed toexamine outside vendors for credit unions to help assure that theyare not involved in compromising member data, said Hoodduring CUNAs annual Payment Systems Conference. NCUA hasbeen lobbying unsuccessfully to get a provision expanding its powerover third-party vendors into the regulatory relief bill, but willcontinue to push for the authoritysomething all the otherbanking regulators already have, Hood later told The Credit UnionJournal. The NCUA Board member also called for uniform nationalstandards on data security so credit unions acrossstate lines have comparable standards, he stated. And creditunions should be able to participate in the drafting of thosestandards, he added.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
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Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
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The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
April 26