WASHINGTON (6/10/15)--An opinion editorial written by CUNA President/CEO Jim Nussle in Monday’s edition of The Hill provides highly visible coverage to the points CUNA makes about one of its top advocacy issues: improved data security standards for merchants.
“With data breaches continuing to happen left and right, we need a bill that would establish a national data security standard,” wrote Nussle, adding, “that’s exactly what Reps. Randy Neugebauer (R-Texas) and John Carney’s (D-Del.) legislation, the House Data Security Act of 2015, would do.”
H.R. 2205 “would require all entities that deal with consumers’ personal information to develop and maintain an effective information security program tailored to the complexity and scope of its operations and the sensitivity of its data,” Nussle wrote.
“It is simple: Those who accept card payments need to be held to the same standard as those who issue cards for payment,” Nussle wrote, noting it is “not an attempt to crush small business.” The bill, he said “will actually protect consumers."
“Merchants have little incentive to adopt stronger security measures on their own because the cost of their data breaches are passed on to credit unions and banks. Holding these retailers accountable is not only good logic, it is sound policy,” he concluded.
CUNA, which supports H.R. 2205, has outlined to members of Congress the guiding principles that should be present in any data breach legislation, most important, the use of Gramm-Leach-Bliley Act-like standards for any entity that handles consumer information.