FOR IMMEDIATE RELEASE
March 7, 2019
Credit Union National Association (CUNA) wrote to the House Homeland Security subcommittee on investigations Wednesday ahead of their hearing on private sector data breaches. CUNA maintains that the cornerstone of any new data privacy requirements should be robust data security requirements for entities that collect consumers’ personal information.
“Credit unions have met with members of this committee to detail damage to credit unions and their members from data breaches. The current gaps in data protection and privacy laws hurt consumers and businesses as information is misused by criminals and other actors with malicious intent. Financial institutions are at the vanguard for misuse of stolen data,” the letter reads.
The growing issue extends beyond the financial services industry and robust privacy and data security requirements for all industries is becoming increasingly necessary.
CUNA also called on Congress to work with the administration to “finally industry to finally address consumer data privacy in a meaningful way,” and stating:
Read the letter in full here.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 115 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.