OLYMPIA, Wash. — The Washington Credit Union League is reporting the success of a measure it supports that would allow CUs to recoup their losses when retailers experience card data breaches.
The league reported that the legislation passed the Insurance Financial Services and Consumer Protection Committee by a vote of 8-1, a margin that surprised some since retailers had lobbied to defeat it.
"In the fight against identity theft, this is a big score for Washington consumers," says Washington Credit Union League President/CEO John Annaloro. "This bill provides incentives to financial institutions to proactively protect personal consumer information, including credit and debit card numbers."
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