The National Credit Union Administration may soon require federally insured credit unions to report hacking incidents, SC Media reports. The new regulation would make it compulsory for credit unions to report “substantial” cyberattacks to the government within 72 hours. The regulation would also apply to credit unions’ third-party services, such as cloud computing providers. The NCUA deemed it necessary to include third parties because five vendors supply 87% of credit unions' total technology assets.
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