WASHINGTON–The House Financial Services Subcommittee on Oversight and Investigations held a hearing yesterday on “A Global Perspective on Cyber Threats.”
The hearing was one of interest to credit unions, which have been pressing both sides of Congress to pass or strengthen a number of bills that would address cyber threats.
In its letter to the subcommittee ahead of the hearing, NAFCU noted that it “supports the strengthening of existing mechanisms in place to address cybersecurity issues such as the Financial Services Sector Coordinating Council (FSSCC) and the Financial Services Information Sharing and Analysis Center (FS-ISAC). These organizations work closely with partners throughout the government creating unique information sharing relationships that allow threat information to be distributed in a timely manner.
NAFCU said it also remains “hopeful” that Congress will also soon take legislative action to address ongoing data security breaches among retailers, and reiterated its support for a bill currently before the committee, the Data Security Act of 2015, which would create a national standard of data security for all industries that handle sensitive information based on the standards in Gramm-Leach-Bliley Act.