WASHINGTON—A proclamation marking the week of March 5 to March 11 as National Consumer Protection Week, pointing specifically to the threats to consumers' sensitive information through cyber crime, has been issued by President Donald Trump.
"The economic strength and vitality of our nation is directly linked to our consumers' confidence in the integrity and security of their personal information and the robust protection of their privacy," the proclamation says. "As an increasing number of transactions and activities occur online, the safety of vital consumer information is increasingly at risk. The American people deserve freedom from unscrupulous actors who perpetrate identity theft, abuse personal information, or engage in fraud.
"Americans must have access to the tools necessary to protect their personal information and privacy and know how to use them to improve their online security … National Consumer Protection Week reminds us of the importance of empowering consumers by helping them to more capably identify and report cyber scams, monitor their online privacy and security, and make well-informed decisions," the proclamation says.
As NAFCU noted in it analysis, the proclamation was released at the same time an anticipated executive order on cybersecurity for federal agencies—which had been expected in January but was later canceled—is still expected to be released at some point. The Trump administration has been urged to issue an order advancing recommendations made last year by the Presidential Commission on Enhancing National Cybersecurity by President Barack Obama. Reports say a new order could be announced this week, NAFCU noted.
NAFCU said it supports measures to protect against cyber threats and is also pushing for action on a national data security standard to hold retailers to the same standards credit unions follow now under the Gramm-Leach-Bliley Act. Chevron Federal Credit Union President and CEO Jim Mooney will make the case for a national data security standard in testimony on NAFCU's behalf Wednesday before the House Small Business Committee.