The New York Credit Union Association recently welcomed Paula Lynch, a shared compliance specialist to credit unions in the Westchester-Rockland Chapter. In her role, Lynch will spend time working on compliance-related matters for Palisades FCU, NorthEastern Engineers FCU, Educational & Governmental EFCU and Ocean Financial FCU, which is based on Long Island.
October is National Cyber Security Awareness Month, and NCUA has a variety of resources to help credit unions and their members guard against cyberattacks.
The CFPB yesterday issued a rule amending the 2015 updates to the Home Mortgage Disclosure Act rule. The Bureau has temporarily changed reporting requirements for credit unions and banks that issue home-equity lines of credit, and clarified the information that financial institutions are required to collect and report about their mortgage lending.
Leadership from the New York Credit Union Association met last week with NCUA Region 1 Director Larry Blankenberger to discuss the agency’s restructuring plans and a wide-range of issues impacting credit unions.
The state Department of Financial Services last week launched a cybersecurity portal for state-charted institutions to report “cybersecurity events.” The portal provides state-chartered credit unions and other financial institutions with an avenue to securely transmit in real time all notifications required under New York’s cybersecurity regulation.