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On February 16, 2023, the National Credit Union Administration Board unanimously approved a final rule requiring any federally insured credit union to notify them as soon as possible, within 72 hours, after it “reasonably believes” that a reportable cyber incident has occurred. The final rule, effective September 1, 2023, defines a “cyber incident” as “an occurrence that actually or imminently jeopardizes, without lawful authority, the integrity, confidentiality, or availability of information on an information system, or actually or imminently jeopardizes, without lawful authority, an information system.”
Source:
- Hunton Andrews Kurth: NCUA Board Approves Cyber Incident Reporting Requirement for Credit Unions
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