While credit unions continue to warn members, NAFCU has calledon Congress to address data security in light of the Targetsecurity breach affecting an estimated 40 million debit and creditcard accounts.

“Financial institutions, including credit unions, have beensubject to standards on data security since the passage ofGramm-Leach-Bliley. However, retailers and many other entities thathandle sensitive personal financial data are not subject to thesesame standards, and they become victims of data breaches and datatheft all too often,” NAFCU President/CEO Dan Berger said Thursdayin a letter to House Speaker John Boehner (R-Ohio) and HouseMinority Leader Nancy Pelosi (D-Calif.).

“While these entities still get paid, financial institutionsbear a significant burden as the issuers of payment cards used bymillions of consumers. Credit unions suffer steep losses inre-establishing member safety after a data breach occurs.”