WASHINGTON (5/5/15)--Recognizing the success credit union advocates have had getting data breach legislation introduced by Congress, CUNA launched an Action Alert Monday to support the U.S. House Data Security Act of 2015 (H.R. 2205).
"Credit unions work hard to protect their members’ data security. They block card usage and issue cards with new numbers quickly after breaches to prevent fraud. When fraud occurs they work with members to remove the fraudulent charges and help members keep their hard-earned money,” said CUNA President/CEO Jim Nussle. “When the merchants cause a data breach, they just pass along many of the costs of their poor security to credit unions.”
The bill, introduced by Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), is a companion to a piece of Senate data breach legislation (S. 961), which was introduced by Sens. Tom Carper (D-Del.) and Roy Blunt (R-Mo.).
CUNA Chief Political Officer Richard Gose praised strong credit union engagement on the issue of data breaches, particularly in recent months, and urged the credit union system to remain involved going forward.
“We are very fortunate that over 350,000 members have been engaged with this issue since the beginning of the year, and we believe this has had a significant impact in getting these bills introduced,” he said.
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.
Credit union stakeholders can take action by: