ALEXANDRIA, Va.–NCUA has offered an update on where its Automated Cybersecurity Examination Tool (ACET) stands.
Throughout this year, the agency has been testing the ACET at credit unions with more than $1 billion in assets in order to assess baseline cybersecurity expectations and make improvements to the tool.
During a meeting with NAFCU's Cybersecurity and Payments Committee the agency discussed the integration of its tool into the standardized Cyber Security Evaluation Tool (CSET) used by the Department of Homeland Security, which NCUA recently set aside funds to accomplish.
Other Issues Addressed
The Treasury Department's fintech report – released in July – was also discussed by NAFCU committee members, specifically the sections pertaining to faster payments, secure payments and data aggregation, according to the association.
An update on interchange fees paid on debit card transactions was also be given during the meeting. Members discussed any significant shifts they've observed in interchange fee revenue.
The latest on data security and breach notification standards – long supported by NAFCU – was also a part of the meeting agenda, NAFCU said. Committee members discussed significant components of pending legislation in the House, the Data Acquisition and Technology Accountability and Security Act, which would establish a national data breach notification standard with a federal enforcement mechanism overseen by the Federal Trade Commission.
The committee's next meeting will be held on Dec. 4.