CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • 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
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • 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 » Data security standards must be strong, consistent, apply to all
Policy & Issues

Data security standards must be strong, consistent, apply to all

May 7, 2019

The best approach on data security and privacy for consumers and business is for Congress to develop a strong privacy law that applies to all businesses and entities that collect, house or otherwise possess information, CUNA wrote to leadership of the Senate Banking and House Energy and Commerce Committees Tuesday. CUNA’s letters state that Congress must address data security in order to provide consumers with data privacy.

“There is an urgent need for Congress to act to set a federal data privacy standard. The American consumer is under attack and current federal law leaves the door open for criminals, terrorist organizations and foreign governments to steal payment and other personally identifiable information to the benefit of their illicit activity,” the letters read. “Taking a narrow view that this debate is about Facebook, Amazon and Google would be a grave mistake. There is no way for Congress to provide consumers with the data privacy they need without enacting robust data security standards that are preemptive of state law and apply to everyone.”

CUNA calls for Congress to:

  • Treat data privacy as a national security issue, since there have been more than 10,000 data breached in the U.S. since 2005, compromising nearly 12 billion consumer records. Many of these breaches are being perpetrated by foreign governments, domestic organized crime syndicates and rogue international actors using the data to fund illicit activities;
  • Fix the weak links in the system, meaning requiring all entities that hold and use consumer data be subject to strong federal data security requirements; and
  • Set a strong federal standard that preempts state laws, removing the current patchwork of various state laws, regulations and requirements that provide uneven protection and require numerous compliance resources.

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • NCUA proposes raising threshold for ‘complex’ CUs

  • Compliance: 2020 Year in Review, Checklist now available

  • NCUA’s 2021 supervisory priorities reflect COVID effects

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

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
  • Privacy Policy

Resources for

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