Newsroom

Back to the Newsroom
May 04, 2023

NAFCU breaks down NCUA’s climate risk RFI

Reg AlertNAFCU sent members a Regulatory Alert Wednesday highlighting the NCUA’s request for information (RFI) on current and future climate and natural disaster risks to federally insured credit unions (FICUs). 

Through the Regulatory Alert, NAFCU highlighted that: 

  • the responses and data gathered through the RFI have the potential to impact credit unions through rulemaking related to governance, risk management, and reporting, as well as through modifications to examinations;

  • the RFI groups climate-related financial risks into two broad categories, physical risk and transition risk; and

  • the RFI focuses on, among other things, the impact of these risks on vulnerable populations as well as on areas such as physical risk, transition risk, operations, business strategies, reporting and targets, climate-related opportunities, and data gathering.

Comments are due to NAFCU June 12; comments are due to the agency June 26. Subscribe to receive Regulatory Alerts in your inbox. 

Related Resources

Complete NAFCU Credit Union Compliance Advertising Guide

Guides
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market.  Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public

Gallagher Executive Compensation and Benefits Survey

preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically.   [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters.  [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public

The Evolving Role of the CISO in Credit Unions

Cybersecurity

preferred partner
DefenseStorm
Podcast

AI in Action: Redefining Disaster Preparedness and Financial Security

Strategy

preferred partner
Allied Solutions
Blog Post