InfoSight eNewsletter
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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.
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Consumers Demanding Faster Payments
FRBservices has reported U.S. consumers are seeking faster payments in more areas of their increasingly on-demand lives, with four out of five saying they are interested in faster options to pay businesses, according to a survey released recently by the Federal Reserve Banks. -
Chopra: CFPB Wants to Change Nature of Regulations
The CFPB is seeking to move away from highly complicated rules that have long been a staple of consumer financial regulation and toward simpler and clearer rules, said CFPB Director Rohit Chopra in a recent Bureau Blog article. -
FFIEC Announces Availability of 2021 Data on Mortgage Lending
The Federal Financial Institutions Examination Council (FFIEC) recently announced the availability of data on 2021 mortgage lending transactions reported under the Home Mortgage Disclosure Act by 4,338 U.S. financial institutions. -
CFPB Studying Banks' OD Programs
The CFPB has posted a Bureau Blog article, "Measuring the Impact of Financial Institution Overdraft Programs on Consumers," announcing that the Bureau has been piloting a supervision effort to collect key metrics from some supervised institutions regarding the consumer impact of their overdraft and non-sufficient fund practices. -
Texas Credit Union Commission Meeting Results
On June 10, the Texas Credit Union Commission met at the Texas Credit Union Department building in Austin. The following is a summary of the meeting. -
U.S. House passes MBL/FOM bill
Yesterday, the U.S. House passed H.R. 2543, the Expanding Financial Access for Underserved Communities Act, as part of a larger financial services bill. -
Kolhoff to resign; Minge appointed chair of Credit Union Commission
Texas Credit Union Department Commissioner John Kolhoff has announced his resignation, effective July 15, 2022. The Credit Union Commission will promptly begin a search for his replacement. -
Question of the Week
Question: Under Reg E, if a member is persuaded to initiate a transaction (on his/her own) that the member later learns to be fraudulent, is that considered and unauthorized transaction we would have to credit the member for? Answer: No. Regulation E and recent interpretations from the CFPB reaffirm that if a member initiates a transaction using that member’s own credentials, the transaction is not considered unauthorized. -
Juneteenth - Freedom Day
“Learn about the importance of Juneteenth (6/19), and how you can celebrate this weekend, HERE!” -
Content Update: US Savings Bond Validation Tool
A recent RISK Alert from CUNA Mutual Group discusses scams involving the redemption of U.S. Savings Bonds and includes information about validating bonds presented for cashing.
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