Search
 

CU & Banking Groups Renew Call for Federal Data Breach Legislation

Both groups want a national standard when it comes to consumer notifications after a data breach.

By David Baumann | Updated on December 22, 2017

Credit union and major banking trade groups are calling on the House Energy and Commerce Committee to help develop a national standard for data breaches that requires consumers to be notified immediately when a breach occurs.

“Data breaches impose significant costs on financial institutions of all sizes because our first priority is to protect consumers and ensure that they have no liability for fraud that typically follows a breach,” the trade groups, including CUNA and NAFCU, said in a letter to leaders of the panel. “Our members provide relief to victims of breaches, regardless of where the breach occurs.”

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?

David Baumann

 

Recommended Stories

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.