NASCUS

Today, the Consumer Financial Protection Bureau issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the Consumer Financial Protection Bureau’s Personal Financial Data Rights rule.

Stay informed this year with our Cybersecurity Alerts & Advisories. Alerts cover cybersecurity topics and keep you aware of important updates, known vulnerabilities, and best practices to address and defend against cyberattacks. Advisories cover specific cybersecurity issues and include threat actor tactics, techniques, and procedures, indicators of compromise. and mitigations. These in-depth reports are written to mitigate malicious activity and protect against ransomware. Stay up to date by visiting https://lnkd.in/g7Jrkhtt

Fifty-three state financial regulatory agencies have taken coordinated action against the nation's largest nonbank mortgage servicer for deficient cybersecurity practices and the company's failure to fully cooperate with state regulators following a significant incident that compromised the data of 5.8 million customers.   By imposing a $20 million fine and corrective plan on Bayview Asset Management, state regulators are underscoring the importance of meeting state requirements to protect consumer data and comply with state supervisory demands. Read more: https://lnkd.in/eFXRtCUW

The NDBF & other state financial regulatory agencies have reached a $20M settlement agreement with mortgage company Bayview Asset Management LLC for deficient cybersecurity practices and failing to comply with examination authority following a major data breach. More at https://lnkd.in/gpi4Wrj9

Did You Know: The NASCUS Accreditation Program, established in 1989, sets the benchmark for quality in state credit union examination and supervision. Modeled after university accreditation, it ensures state regulatory agencies meet national performance standards through a rigorous process of self-evaluation, peer review, and ongoing monitoring. This program, overseen by the NASCUS Performance Standards Committee (PSC), highlights the dedication and resources needed to maintain excellence in regulatory and supervisory practices. Learn more at: https://lnkd.in/e-nha5yq #Accreditation #CreditUnions #StateSupervision #ExcellenceInRegulation

📅 Save the date: April 21, 2025 NASCUS is excited to partner with the Ohio Department of Commerce, Division of Financial Institutions, and the Ohio Credit Union League for our 2025 Ohio Credit Union Day. Designed for credit union volunteers, staff, and leaders, this annual event is your go-to opportunity to stay ahead on key industry trends, tackle challenges, and build meaningful connections. Don’t miss out on this chance to learn, grow, and network. Register now: https://lnkd.in/e-r-X7kA #CreditUnion #Leadership #Collaboration #Networking

It's been a long, long journey, but Massachusetts has finally modernized its money transmission laws. Gov. Maura Healey yesterday signed into law H.4840 (https://lnkd.in/eyD23gqx), the Mass. version of the Money Transmission Modernization Act. Mass. was the last state to only regulate foreign transmissions. Starting this fall, the new law will become effective with the Massachusetts Division of Banks regulating all consumer transmissions. I first worked on a bill to update the law in 2003 and we came close to getting it passed several times. However, congrats to Commissioner Mary Gallagher and her team who were able to get this over the finish line. If you are a company that is operating in Mass. and now need a #license, feel free to reach out to me. #moneytransmission #moneytransmitterlicense #payments FS Vector Conference of State Bank Supervisors (CSBS) Matthew Lambert

As we welcome 2025, we extend our heartfelt gratitude for your continued support and partnership. We look forward to the opportunities ahead as well as achieving success, growth, and impactful milestones together. #HappyNewYear

Thank you, Jimmy Carter, for your life of service, for your enduring kindness, and for inspiring us to be better. https://lnkd.in/eT4CUMS7

Today, the Consumer Financial Protection Bureau sued Rocket Homes to stop providing incentives to real estate brokers and agents in exchange for steering homebuyers to Rocket Mortgage for loans. https://lnkd.in/eyb5YJmi