WASHINGTON–NAFCU said it will be focused this week on monitoring House hearings on the government’s response to cybersecurity, the effects of cyber-attacks on both small businesses, and the federal government and a Senate committee hearing on the administration’s overtime rule.
The Oversight and Government Reform Subcommittee on Information Technology on Wednesday will review federal cybersecurity, detection, response and mitigation efforts.
Also on Wednesday, the House Small Business Committee will hold a hearing looking at how cyber-attacks threaten both small businesses and the federal government. NAFCU said it continues to push for the adoption of the “Data Security Act of 2015,” (HR 2205/S.961), which would hold retailers to the same standards financial institutions follow under the Gramm-Leach-Bliley Act.
Meanwhile, in the Senate, the Small Business and Entrepreneurship Committee on Thursday will examine the administration’s overtime rule. NAFCU said it supports fair overtime rules, but has raised concerns about how some of the proposed changes would affect credit unions.
“The association is concerned that a one-size-fits-all approach puts many small credit unions in a difficult position, particularly regarding employers’ ability to offer non-salary-based advancement opportunities such as travel and training,” said NAFCU.