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Credit unions already have a great deal of requirements to comply with to protect data security and any additional laws should focus on regulating those entities that aren’t regulated. That’s the message Air Academy FCU Glenn Strebe gave during testimony before a House subcommittee today.

“The best way to move forward and address data breaches is to create a comprehensive regulatory scheme for those industries that are not already subject to oversight. At the same time, the oversight of credit unions, banks and other financial institutions is best left to the functional financial institution regulators that have experience in this field. By and large, financial institutions, especially credit unions, have not been the source of significant data breaches,’’ he told the House Small Business Committee’s Subcommittee on Healthcare and Technology.

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