WASHINGTON—Ahead of the House Energy and Commerce Subcommittee on Innovation, Data and Commerce markup of three bills, America’s Credit Unions offered its suggestions for improving the American Privacy Rights Act discussion draft.
“Credit unions strongly support the idea of a national data security and data privacy regime that includes robust security standards that apply to all who collect or hold personal data, recognizes existing Gramm-Leach-Bliley Act (GLBA) standards and is preemptive of state laws,” wrote President/CEO Jim Nussle. “We firmly believe that there can be no data privacy until there is strong data security.”
Three Key Tenets
Nussle stressed the “three key tenets” the organization believes must be addressed in any new national data privacy law:
- A recognition of the GLBA standards in place for financial institutions and a strong exemption from new burdensome requirements
- A strong federal preemption from the myriad of various state laws for those in compliance with national privacy and GLBA standards
- Protection from frivolous lawsuits created by a private right of action
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