{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC","title":"Federally Insured Credit Union Use of Distributed Ledger Technologies","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/40d96451\"></iframe>","width":"100%","height":180,"duration":647,"description":"Understanding NCUA's Guidance on Credit Unions and Distributed Ledger TechnologiesThis episode, hosted by Samantha Shares, delves into the NCUA's letter to credit unions (22-07) regarding the use of Distributed Ledger Technologies (DLT). Aimed at federally insured credit unions, the letter highlights how the NCUA supports the adoption of financial technologies that help improve services, while advising credit unions to approach DLT with sound governance and risk management. It clarifies that DLT is not prohibited but must be used in compliance with applicable laws, and stresses the importance of due diligence in evaluating DLT's risks and benefits. This guidance is aimed to aid credit unions in leveraging DLT responsibly and effectively, ensuring they remain competitive and continue to serve their members' needs safely.00:00 Welcome and Introduction00:49 Overview of NCUA's Letter on DLT Use01:22 Key Considerations for Credit Unions Using DLT03:31 Governance, Oversight, and Planning for DLT04:41 Risk and Risk-Mitigation Strategies06:15 Information and Cybersecurity Risks06:57 Legal and Compliance Risks07:47 Strategic, Reputation, and Liquidity Risks08:29 Third-Party Risk Management08:52 Conclusion and Final Thoughts","thumbnail_url":"https://img.transistorcdn.com/DblKo84_Ha6-XOQnfj5k1wmxCkQHeB53BeeKc2eI7dM/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ4MTk5LzE3MDM4/NTQxOTktYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}