CISA held until fall, NCUA vendor authority amendment out

first_imgThe U.S. Senate will hold off on voting on the Cybersecurity Information Sharing Act (CISA) until after the August recess, but a CUNA-opposed amendment was not added to the bill.Senate Majority Leader Mitch McConnell (R-Ky.) and Minority Leader Harry Reid (D-Nev.) reached an agreement late Wednesday to consider 10 Republican amendments and 11 Democratic amendments– the amendment regarding the National Credit Union Administration was excluded from that list.CUNA wrote Wednesday in opposition to the amendment, submitted by Sen. Elizabeth Warren (D-Mass.), that would have granted NCUA supervision authority over third-party vendors.CUNA told Senate leadership that the amendment would increase the regulatory burden facing credit unions while bringing no apparent positives to members. In addition, the amendment was unnecessary, because credit unions are already required to perform due diligence when it comes to third-party relationships. That due diligence is currently subject to supervision by the NCUA. continue reading » 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img