Draft legislation addressing data breaches was released Friday, two days after a CUNA witness testified before a House Financial Services subcommittee, and it contains the principles CUNA's witness said should be part of any legislation.
A proposed settlement was submitted to the court for approval Wednesday which would conclude the data breach lawsuit brought against Home Depot stemming from a 2014 data breach. CUNA, state leagues and a number of credit unions are among the plaintiffs.
Millions of current and former federal employees may have had their personal information compromised during a recent breach of the U.S. Office of Personnel Management, which recently announced it became aware of a cybersecurity incident affecting its systems.
Many representatives and witnesses at a U.S. House Financial Services Committee hearing on data security Thursday agreed: the strong data security standards spelled out for financial institutions by the Gramm-Leach-Bliley Act would help stop data breaches if applied elsewhere