National Credit Union Administration agrees to pay Palm Springs Federal Credit Union $50,000 for breach-related expenses. Palm Springs FCU notified its members of the loss of an unencrypted flash drive containing member names, addresses and Social Security numbers. NCUA faced criticism for stopping short of taking responsibility for the breach and for saying it was considering a new rule requiring encryption of data shared with examiners. But for the first time, NCUA acknowledges responsibility for its own lax security procedures. Ex-NCUA chairman says payment is positive acknowledgment of the role the regulatory agency should have played.”]
Source: https://www.cuinfosecurity.com/agency-takes-responsibility-for-breach-a-7803