#ncua — Public Fediverse posts

@KimPerales anyone have any sense if this #fdic madness is impacting credit unions and the #NCUA ? Could credit unions be a relatively safe harbor from the banking crisis? Or are credit union deposits just as vulnerable?

The NCUA, responsible for overseeing federal credit unions, received incident reports notifying them of the attack.

#Cybersecurity #Cyberattack #USA #Ransomware #Trellance #NCUA #MVFCU #CreditUnions

https://cybersec84.wordpress.com/2023/12/03/cyberattack-impacts-60-credit-unions-as-tech-provider-suffers-ransomware-attack/

So yes, keep enough cash on hand to survive 2-3 weeks (if possible), but don't worry about yoinking out every last dime.

If you're with a credit union, like I am, check that you're with an NCUA-insured #CreditUnion to know that you have similar protections on your money.

Note that there are no such provisions for money market accounts. Those are unsecured account types.

#US #banking #FDIC #NCUA

Okay, seeing more "bank run" news in the US, this time from #PacWest.

US folks, if you're with an #FDIC insured bank, the US government will replace USD$250,000 -=per account=- of your money if the bank fails.

That's:
* personal checking
* personal savings
* business checking for a sole proprietorship (if you have one)
* business savings for a sole proprietorship (if you have one)

[I think that's the key types of insured accounts that one individual can have.]

#US #banking #FDIC #NCUA

@User47

#ncua #creditunions
Credit unions are really SOOOO much better. We wouldn't have many of the financial issues if we all used credit unions 😊

Same applies to credit unions. Sub FDIC for #NCUA. Though #CreditUnions are leagues better than banks and don’t fail nearly as often.

NCUA Chairman Todd M. Harper Remarks at the 2023 Governmental Affairs Conference, National Credit Union Administration, February 27, 2023

— Available here: https://ncua.gov/newsroom/speech/2023/ncua-chairman-todd-m-harper-remarks-2023-governmental-affairs-conference

#fintech #banking #financialservices #payments #digitalfinance #digitalpayments #regulation #supervision #prudentialregulation #riskmanagement #operationalrisk #operationalresilience #thirdpartyrisk #cyberrisk #cybersecurity #consumerprotection #financialinnovation #NCUA #creditunions

NCUA Chairman Todd M. Harper Remarks at the 2023 Governmental Affairs Conference, National Credit Union Administration, February 27, 2023

— Available here: https://ncua.gov/newsroom/speech/2023/ncua-chairman-todd-m-harper-remarks-2023-governmental-affairs-conference

#fintech #banking #financialservices #payments #digitalfinance #digitalpayments #regulation #supervision #prudentialregulation #riskmanagement #operationalrisk #operationalresilience #thirdpartyrisk #cyberrisk #cybersecurity #consumerprotection #financialinnovation #NCUA #creditunions

NCUA Chairman Todd M. Harper Remarks at the 2023 Governmental Affairs Conference, National Credit Union Administration, February 27, 2023

— Available here: https://ncua.gov/newsroom/speech/2023/ncua-chairman-todd-m-harper-remarks-2023-governmental-affairs-conference

#fintech #banking #financialservices #payments #digitalfinance #digitalpayments #regulation #supervision #prudentialregulation #riskmanagement #operationalrisk #operationalresilience #thirdpartyrisk #cyberrisk #cybersecurity #consumerprotection #financialinnovation #NCUA #creditunions

@TheAntichrist And when a CU puts their website on #Cloudflare, they don't tell you, so you inadvertently give your bank creds to CF and CF sees your account. They are breaking the law to do it without your agreement, which goes into the next problem with #creditUnions: their regulator (#NCUA) does not enforce the law when a CU breaks their contract or the law.