Newsroom
April 29, 2015
NAFCU supports new data security draft in House
NAFCU's Vice President of Legislative Affairs Brad Thaler expressed support yesterday for a new draft data security bill addressing data protection standards, outlining a process for notifications and recognizing financial institutions' compliance with the Gramm-Leach-Bliley Act.
The bill was announced earlier yesterday by House Financial Services Financial Institutions and Consumer Credit Subcommittee Chairman Randy Neugebauer, R-Texas, who said he plans to introduce the legislation with fellow House Financial Services Committee member John Carney, D-Del, in the coming days.
Thaler wrote to both to express the association's support for this effort.
The Neugebauer-Carney bill would set a national data security standard for merchants, as sought by NAFCU. It also closely aligns with NAFCU-supported legislation introduced a couple weeks ago by Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo.
NAFCU has been pushing for the passage of a data security bill that would create a strong national standard of protection for retailers, recognize credit unions' compliance with the Gramm-Leach-Bliley Act and hold retailers accountable for breaches occurring on their end.
The bill was announced earlier yesterday by House Financial Services Financial Institutions and Consumer Credit Subcommittee Chairman Randy Neugebauer, R-Texas, who said he plans to introduce the legislation with fellow House Financial Services Committee member John Carney, D-Del, in the coming days.
Thaler wrote to both to express the association's support for this effort.
The Neugebauer-Carney bill would set a national data security standard for merchants, as sought by NAFCU. It also closely aligns with NAFCU-supported legislation introduced a couple weeks ago by Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo.
NAFCU has been pushing for the passage of a data security bill that would create a strong national standard of protection for retailers, recognize credit unions' compliance with the Gramm-Leach-Bliley Act and hold retailers accountable for breaches occurring on their end.
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