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 » National data security, privacy law w/ robust standards needed
Policy & Issues

National data security, privacy law w/ robust standards needed

September 29, 2021
Cybersecurity Safeguards

Credit unions fully support legislation containing a national data security and privacy standard, CUNA wrote to the Senate Commerce Committee Wednesday for its hearing consumer privacy.

“Credit unions strongly support the enactment of a national data security and data privacy law that includes robust security standards that apply to all who collect or hold personal data and is preemptive of state laws. We firmly believe that there can be no data privacy until there is strong data security,” the letter reads. “With that in mind, credit unions call on Congress to pass a robust national data security standard that would cover all entities that collect consumer information and hold those who jeopardize that data accountable through regulatory enforcement.”

CUNA supports the following principles for federal privacy and data security legislation:

  • New privacy and data security laws should keep the Gramm-Leach-Bliley Act (GLBA) intact, as financial services their regulators have developed regulations, guidance and procedures for compliance.
  • Any new privacy law should include both data privacy and data security standards.
  • The new law should cover all businesses, institutions and organizations.
  • Any new law should preempt state requirements to simplify compliance and create equal expectation and protection for all consumers.
  • Breach notification or disclosure requirements are important, but these requirements alone
  • won’t enhance security or privacy
  • Hold entities that jeopardize consumer privacy and security accountable through regulatory
  • enforcement
  • Recognize this issue for what it is: a national security issue.

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

  • CDFI Fund announces CUNA-sought delay to consider application changes

  • CUNA makes recommendations for CFPB personal data rights 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