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Russian State-Sponsored and Criminal Cyber Threats to Critical Infrastructure

The cybersecurity authorities of the United States, Australia, Canada, New Zealand, and the United Kingdom have released a joint Cybersecurity Advisory (CSA) to warn organizations that Russia’s invasion of Ukraine could expose organizations both within and beyond the region to increased malicious cyber activity from Russian state-sponsored cyber actors or Russian-aligned cybercrime groups.

  • FSB Report on Approaches to Climate-Change Risks

    The Financial Stability Board recently announced its publication of an interim report, “Supervisory and Regulatory Approaches to Climate-related Risks,” that aims to assist supervisory and regulatory authorities in developing their approaches to monitor, manage, and mitigate cross-sectoral and systemwide risks arising from climate change and to promote consistent approaches across sectors and jurisdictions.
  • FHFA Mandates Use of Supplemental Information Form

    The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use the Supplemental Consumer Information Form (SCIF) as part of the application process for loans that will be sold to the Enterprises.
  • Question of the Week

    Question: We are looking to open accounts online and wonder if we are required to provide account opening disclosures immediately or if we can send them after the account opens for review later. What is the correct timing? Answer: To cite 12 CFR 707.4:
  • From Template to Preparedness

    Your members look to you to protect their assets in case an unforeseen disaster occurs, so it’s critical for credit unions to have a blueprint for emergency preparedness.
  • CFPB Report on Medical Billing Complaints

    The CFPB recently issued a report that examines the financial consequences of medical billing and collections endured by individuals and families across the country.
  • U.S. Targets Facilitators of Russian Sanctions Evasion

    The Department of Treasury announced that OFAC has designated entities and individuals involved in attempts to evade sanctions imposed by the United States and its international partners on Russia.
  • New HUD Guidance on Subsidized Multifamily Housing

    The Department of Housing and Urban Development released new guidance to reinforce requirements that HUD-subsidized multifamily housing’s marketing and application processes be designed to be inclusive of persons of all races and national origins.
  • Comments Due on PCA Relief Extension, Digital Currencies

    Comments on several items of relevance to credit unions are due in the next several weeks.
  • CFPB Invokes Authority to Examine Non-Bank Financial Companies

    The CFPB announced it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.
  • Question of the Week

    Question: Our credit union operations are only in Oklahoma, but we have members in many other states. Is it appropriate to escheat all dormant funds to the state of Oklahoma? Answer: No. Funds should be escheated to the state in which the member resides.

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Perspectives Vol 17 Issue 2

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