President Barack Obama kicked off this week on Capitol Hill by welcoming financial regulators, including the National Credit Union Administration (NCUA) and Consumer Financial Protection Bureau, to the White House Monday.During the meeting, Obama called the financial system “safer and stronger than it was before the crisis.” He added that it is top priority of the White House going forward to improve cybersecurity and tighten security gaps in the financial sector, identifying weak and vulnerable areas.The Credit Union National Association (CUNA) will continue its advocacy efforts for the remainder of Obama’s term and the 114th Congress, pushing for cybersecurity legislation that would provide a national data security and data breach notification standard.CUNA will also continue to fight for reducing the regulatory burden of credit unions, revealed in a groundbreaking CUNA study to have been $7.2 billion in 2014 alone. (See related story: Complete CUNA reg. burden study now available.) continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
DES MOINES — Iowa’s top tax man says the computer systems that handle tax collections in 38 other states have been modernized in the past decade.Iowa Department of Revenue director Kraig Paulsen is asking lawmakers to spend tens of millions over the next five years to replace his agency’s ancient computer networks.“We operate about 24 systems and each one of them is independent,” Paulsen says. “They are basically as old as when they were implemented, so some of them may be 10 years old. Some of them may be 20 years old. Literally there are those that are 30 years or older.”It will cost the state about $18 million this year alone to keep those systems running. Plus, Paulsen warns it’s getting harder to find people to fix things because they have to know COBOL, a computer programming language created in 1959.“We’ve tried to weave this web together and make it function,” Paulsen says, “but we believe it’s time to move forward.”The digital upgrade Paulsen envisions would let Iowa taxpayers log on and see their returns on the department’s website – and check both payments and refunds.“It will absolutely be much more user-friendly,” Paulsen says. “I am confident in the security of the systems and the protection of Iowans’ information…That’s obviously something we stay very vigilant on.”Paulsen says the companies he’s investigated build systems that send reminders to taxpayers, too. The nearly $90 million project Paulsen proposes includes upgrading computer systems for the Iowa Lottery and the Iowa Alcoholic Beverages Commission at the same time. The project would take three to five years to complete.