Government Accountability Office: Regulators not adequately analyzing risks across institutions’ enterprises. Not all regulatory agencies have the same oversight authority, report says. National Credit Union Administration lacks authority to review third-party service providers. Report: Depository Institutions want more information on cybersecurity. Credit union official: “Vendor authority is NCUA’s top legislative priority. It just makes sense that this body should be able to examine third parties’ security practices” Financial fraud expert: “It takes Congress a long time to get anything done, so I’m surprised””]
Source: https://www.cuinfosecurity.com/gao-bank-risk-analysis-comes-up-short-a-8376