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NCUA releases OIG report on Oct. Palm Springs FCU data breach

Posted on March 9, 2015 by Dissent

There’s a follow-up to a Palm Springs Federal Credit Union breach reported last year. The Credit Union National Association (CUNA) writes:

The National Credit Union Administration’s Office of the Inspector General (OIG) has released a review regarding a data breach that occurred late last year.

The agency confirmed that an external flash drive containing personal information for approximately 1,600 members of Palm Springs (Calif.) FCU was lost.

According to the NCUA, there has been no indication that the information was used to gain improper access to any accounts.

The OIG report found that:

  • No evidence exists indicated that the NCUA’s Office of General Counsel attempted to cover op the fact that an NCUA examiner was responsible for the loss of the flash drive, nor did it otherwise “unduly influence PSFCU, through its legal counsel, to use the word “auditor” in lieu of “examiner” in the notification letter;” and
  • NCUA Executive Director Mark Treichel’s decision not to publicly announce the incident on NCUA’s website was appropriate under the circumstances.

Read more on CUNA.

Category: Commentaries and AnalysesFinancial SectorLost or MissingU.S.

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