United States Congress
Strengthening Cybersecurity for the Financial Sector Act of 2024
January 18, 2024
Summary
This bill amends the Federal Credit Union Act and the Federal Housing Enterprises Financial Safety and Soundness Act to extend the regulatory and examination authority of the National Credit Union Administration (NCUA) and the Federal Housing Finance Agency (FHFA) over service providers and contractors performing activities for credit unions, GSEs (Fannie Mae, Freddie Mac), and Federal Home Loan Banks. Mortgage lenders and brokers who contract with these entities must notify the respective regulator within 30 days of entering a service relationship, and their operations will be subject to examination as if performed in-house. Compliance officers should prepare for increased oversight of third-party vendors, including IT and loan-processing services.
AI-generated summary · Sep 10, 2026. Verify with your compliance counsel before acting.
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Source: https://www.congress.gov/bill/118th-congress/hr-bill/7036
Common questions
- What does "Strengthening Cybersecurity for the Financial Sector Act of 2024" cover?
- This bill amends the Federal Credit Union Act and the Federal Housing Enterprises Financial Safety and Soundness Act to extend the regulatory and…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on January 18, 2024.
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