CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » CUNA witness to talk breach effects, solutions with subcmte
Policy & Issues

CUNA witness to talk breach effects, solutions with subcmte

February 13, 2018

CUNA witness Kim Sponem will discuss the impact of data breaches on credit unions and members with a House Financial Services subcommittee Wednesday morning. Sponem, president/CEO of Summit CU, Madison, Wis., will testify on CUNA’s behalf at a financial institutions and consumer credit subcommittee hearing titled “Examining the Current Data Security and Breach Notification Regulatory Regime.”

“Kim is going to reinforce a lot of the messages that we have been delivering to Congress for the last several years about the impacts that merchant data breaches have on credit union members and on credit unions as financial institutions,” said CUNA Chief Advocacy Officer Ryan Donovan.

CUNA strongly supports both a strong national data standard for all entities that handle sensitive consumer information, and has made enhancing payments security a pillar of its 2018 advocacy agenda.

CUNA outlined key points of federal data breach legislation in a letter to the House Energy and Commerce Committee earlier this year.

The legislation must include:

  • A flexible, scalable data protection standard;
     
  • A notification regime requiring timely notice to impacted consumers, law enforcement and applicable regulators;
     
  • Consistent, exclusive enforcement of the new national standard by the Federal Trade Commission and state attorneys general; and
     
  • Clear preemption of the existing patchwork of often conflicting and contradictory state laws.

Wednesday’s hearing is scheduled to begin at 10 a.m. (ET) and will be streamed live on the committee’s website.

Credit Union Magazine - Winter 2019

Winter 2019

Alternative lending, compliance management systems, and ideas for boosting credit card portfolios are among the topics of Credit Union Magazine’s Winter 2019 edition.
App •  Digital Edition •  Subscribe

Trending

  • CFPB proposes to raise remittance threshold to 500 transfers

  • Compliance: Using alternative data in underwriting

  • Concerns over credit union-bank mergers, CRA ‘inaccurate, misinformed’

Tweets by CUNA_News

Polls

What's the pace of staff turnover at your CU?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors