WASHINGTON—NAFCU President and CEO Dan Berger and senior staff met this week with the Treasury Department’s Brian Peretti on cybersecurity issues, credit unions’ concerns about those and NAFCU’s efforts to promote awareness.
Peretti is program manager for Treasury’s Office of Critical Infrastructure Protection and Compliance Policy. NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt, Director of Regulatory Affairs Alexander Monterrubio and Regulatory Affairs Counsel Andrew Morris also attended the meeting.
The NAFCU representatives noted the association’s recent collaboration with the Financial Services Information Sharing and Analysis Center (FS-ISAC) to deliver webinars tailored for credit unions. They also discussed NAFCU’s participation in the Financial Services Sector Coordinating Council’s Cybersecurity Operational Capabilities Assessment task group and ongoing involvement in the Federal Reserve’s Faster and Secure Payments taskforces.
Peretti said he welcomed future collaboration between NAFCU and his office to improve the understanding of credit union cybersecurity needs and develop cybersecurity exercises that are responsive to credit union concerns, NAFCU reported.
Peretti further said his office continues to develop tools and resources for financial institutions looking to measure their cybersecurity capabilities; he said additional data regarding credit union practices would need to be collected. He also showed interest in learning how credit unions select their cybersecurity vendors, whether credit unions had any vendor-related concerns and what challenges credit unions face when performing vendor due diligence, NAFCU reported.
NAFCU staff also discussed activities of the association’s Payments and Cybersecurity Committee, made up of NAFCU member credit union representatives. Peretti expressed interest in using the committee as a potential screening group for new, executive-level cybersecurity exercises.