CUNA joined other financial trade associations Wednesday to urge Congress to move forward on legislation that would put a strong national data security standard in place. The letter was sent to House Financial Services subcommittee on financial institutions and consumer credit for the record of its hearing on data security.
“In our view, it is critical for Congress to move forward on legislation that puts in place one strong national data security and breach notification standard eliminating the current inconsistent patchwork of state law,” the letter reads. “Any legislation enacted into law must ensure that all entities that handle consumers’ sensitive financial data have in place a robust process to protect data, which can help prevent breaches from happening in the first place.
“This standard should apply to all industries that handle sensitive information and would provide meaningful and consistent protection for consumers nationwide,” the letter adds.
The organizations called for a national standard that should: