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July 27, 2022
On the web
NCUA Board Issues Proposed Rule on Cyber Incident Reporting Requirements
NCUA
“Through a live webcast, the National Credit Union Administration Board held its seventh open meeting of 2022 and unanimously approved two items: A notice of proposed rulemaking on cyber incident notification requirements. A final rule to adjust the asset thresholds for assigning supervision of covered consumer credit unions to the Office of National Examinations and Supervision (ONES). The NCUA Board approved a proposed rule (opens new window) that would require a federally insured credit union (FICU) to notify the NCUA as soon as possible but no later than 72 hours after they reasonably believe that a reportable cyber incident has occurred. The NCUA Board approved a final rule(opens new window) that amends the NCUA’s regulations to change the $10 billion asset threshold for assigning federally insured credit unions to the Office of National Examinations and Supervision (ONES).”
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