Feel free to peruse our blog or search for posts based on a specific term.

July 23, 2013

National Association Creates 5-Point Plan for Regulatory Reform

The National Association of Federal Credit Unions (NAFCU) is proposing to hold merchants accountable for data security breaches. The banking group recommends Congress create national standards for retailers and processors to uphold when they collect and process payment card data. The legislation would create uniform security practices for the protection of all financial information.  The NAFCU has been actively working to gain support for this issue.

Fred Becker Jr., President & CEO of the NAFCU,  described in a recent letter to Congressional leaders the organization's Five-Point Plan for Regulatory Relief. He notes:

"Our nation's credit unions are struggling under an ever-increasing regulatory burden that must be immediately addressed. A survey of NAFCU members late last year found that 94% have seen their regulatory burden increase....Credit unions, many of which have very small compliance departments, and in some cases only one compliance officer, must comply with the same rules and regulations as our nation's largest financial institutions that employ armies of lawyers."

The 5 points outlined in the plan include the following:

  • Administrative Improvements to the National Credit Union Administration (NCUA)
  • Capital Reforms
  • Structural Improvements
  • Operational Improvements
  • Data Security Reforms

For more information on the NAFCU's Five-Point Plan for Regulatory Relief click here.

Visit www.cbiz.com/pci for more information regarding CBIZ Security & Advisory Services, LLC and contact Karen Cassella (kcassella@cbiz.com), Executive Vice President, CBIZ SAS at (901) 685-5575 or email the CBIZ SAS team at pci@cbiz.com.

blog comments powered by Disqus


Phoenix tax Accounting affordable care act Alex Elliott anna howell Audit audit and assurance Award Awards awards and recognition BEPS Best Places to Work Betty Isler Bill Tapp BizJournals biztips bizwomen Blog Brad Hale brenda brigman bryan koch CBIZ CBIZ Kansas City CBIZ KC CBIZ MHM CBIZ MHM Memphis CBIZ MHM Tampa Bay cbiz security and advisory services CBIZ Women's Advantage CBIZBlog CBIZKC CBIZMHM CFO CFO & Controller Conference cfo conference CFO of the Year CFO of the year awards Charity Community Involvement Conference Construction Controller Conversation With country club plaza Craig Gilman cwa Dave Enick DOL EBP EBP Audits Ed Rataj Employee Benefit Plan Audits Employee Benefits employee engagement EmployeeBenefits entrepreneur EntreprenurialServicesGroup ESG Eustis Corrigan events Food Drive healthcare HR Human Resources Innovation International Tax Jenny Matasic Josh Finfrock Joyce Farris Kansas City KansasCity karen cassella KC CFO Breakfast Series KC Events KCEvents Linda Lauer Lloyd Grissinger Local Managing Director Manufacturing Mark Baricos MBJ Megan Murdock memphis Memphis Business Journal Memphis Daily News memphis super women in business mentoring monday mergers and acquisitions moira house Networking NFP Not-for-profit Paul Dunham pci compliance Phoenix promotions real estate Revenue Recognition SALT Service Social Committee sonya daniels Sponsorships Start Up Start Ups State and Local Tax steve dunavant Success Super Women in Business Tampa Bay Tampa Bay Business Journal tangible property regulations Tax Tax Incentives tax reform The Daily News Top Workplaces Tracey McDonald transaction advisory services Transfer Pricing UMB Bank University of Memphis Volunteer workplace award