Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON — First thing’s first, House Financial Services Committee member–and chairman hopeful–Spencer Bachus (R-Ala.) said of a committee agenda for the 110th Congress. “Nov. 7 is the election. I’d rather deal with the things we know we have to and then on Nov. 7,” he said, “then we start worrying about [the chairmanship]. I’m concerned about the majority.” Regardless of who is the next committee chairman, Bachus sees data security as one of the most urgent issues. “I spoke to credit unions in my own state, two of them had to reissue–one 15,000 credit cards and one 5,000,” he explained. The members are wondering what went wrong, but the credit unions did nothing wrong. This year the Financial Services and Energy & Commerce committees had a turf battle over the matter and none of the handful of bills introduced made much progress. “I can’t say why the parties haven’t gotten together,” Bachus added, though he admitted he was not closely involved with those negotiations.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.