NCUA Board Chairman Debbie Matz said gaining authority over credit union vendors is the agency's top legislative priority.
Matz also said she is not sure if the agency would need to hire more staff to exercise vendor oversight. Without the authority, she said the agency feels like its hands are tied since it cannot examine or issue enforcement actions against third-party vendors that are doing business with credit unions.
"It's been important all along but now in the age of cyberthreats, it's absolutely critical; it's essential; we need to have that authority to do our jobs properly," she said.
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