Vedder Price attorneys Charles J. Nerko and Mark C. Svalina were recently featured in Credit Union Times for their article, “Prevent Becoming the Headline of Tomorrow,” discussing eight strategies for addressing emerging legal risks for credit unions in 2019.

In the article, Mr. Nerko and Mr. Svalina outline specific steps credit unions should take to protect their member information and reputation from becoming ensnared in potential legal traps. These strategies include:

• Investing in technology solutions to protect member information;
• Policing third-party vendors, which are often the weak links in cybersecurity;
• Protecting the attorney-client privilege during a data incident investigation;
• Obtaining consent before featuring people in social media or marketing materials;
• Being cognizant of the #MeToo movement’s impact;
• Avoiding reproducing copyrighted works, including publicly available electronic materials;
• Assessing and strengthening internal controls; and
• Keeping abreast of new developments.

Mr. Nerko and Mr. Svalina maintain that credit unions should expect a multitude of new laws to surface in 2019 and laws such as the Copyright Act and Americans with Disabilities Act will continue to evolve as new advancements in technology develop. The strongest strategy to avoid becoming a 2019 headline is to connect with outside counsel equipped to provide updates on all relevant strategies outlined above and any 2019 legal developments.

To read the article in full in Credit Union Times, please click here. (Subscription may be required).