CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • 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
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » CUNA continues its call on Senate to act on a national data security standard
Press

CUNA continues its call on Senate to act on a national data security standard

December 5, 2019

FOR IMMEDIATE RELEASE    

December 4, 2019    

Washington, DC     

CONTACT:          

Lauren Williams         
CUNA Communications         
202-672-3396      

Credit Union National Association (CUNA) today wrote to the Senate Commerce Committee ahead of its hearing to examine legislative proposals to protect consume data. Credit unions are deeply concerned that Americans’ financial wellness is compromised by inconsistent privacy and security standards applied to businesses that possess, process or transport consumers’ nonpublic personal information (NPI).  

“[Credit unions] fear that non-depository institutions, such as data aggregators and other businesses that collect and sell data put Americans’ financial well-being at risk by not protecting the data and by using it in ways that target marginalized communities,” CUNA President/CEO Jim Nussle wrote. “Furthermore, misuse of NPI makes it more difficult for credit unions to deliver necessary financial services to these communities.” 

America's credit unions and other financial institutions follow requirements of the Gramm-Leach-Bliley Act (GLBA) and view applying those protections to others a “good first step,” but acknowledges that more should be done. 

CUNA supports Committee Chairman Sen. Roger Wicker’s (R-Miss.) draft of the legislative proposals which were covered in Wednesday’s hearing.  

“The Chairman’s proposal contains many provisions that would greatly enhance protections for Americans by giving them ownership of their data and requiring the data to be protected from theft and misuse through enhanced data security protection,” Nussle adds.  

CUNA is advocating for legislation that would: 

  • Apply data privacy and data security standards to everyone — all business, institutions and organizations — and hold each link in the transaction journey accountable; 
  • Create equal expectations and protections by harmonizing inconsistencies through new legislation that protects sensitive information based on the type of information rather than the type of entity that possess it; 
  • Create a national standard that is the ceiling for requirements; 
  • Base protections on strong standards that protect data; and 
  • Safeguard consumer protections by providing mechanisms to address the harms that result from privacy violations and security violations, including data breaches.  

##      

About CUNA:           
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. 

Credit Union Magazine: Winter 2022

Winter 2022

Credit Union Magazine’s Winter 2022 issue highlights data-driven marketing, the board’s role in cybersecurity, elder abuse scams, credit unions’ auto lending advantage, and more.
Digital Edition •  Subscribe

Trending

  • Reps introduce bipartisan Credit Union Board Modernization Act

  • Compliance: Experts analyze NCUA’s 2023 supervisory priorities

  • CFPB must convene SBREFA panel for credit card fee rulemaking

Tweets by CUNA_News

Polls

How do you feel about the economy in 2023?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and 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

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us