NCUA Considering Encryption Rule to Prevent Further Breaches
In light of the recent data breach caused by an NCUA examiner’s loss of a credit union’s thumb drive, Chairman Matz announced that the agency is considering a proposed rule that would require credit unions to encrypt data provided to examiners. In addition, Matz stated that informing the public sooner about this low-level breach could have encouraged criminal activity. [1/7/15]