WASHINGTON—Members of the Senate Commerce Committee are being urged to "not lose focus on the need for data protection, particularly when it comes to establishing a national standard of consumer data security,” with both CU trade associations weighing in on the issue.
NAFCU Vice President of Legislative Affairs Brad Thaler made the request in a letter to committee Chairman John Thune (R-SD) and Ranking Member Bill Nelson (D-FL) ahead of the committee's hearing today this week on safeguards for consumer data privacy.
In the letter, Thaler emphasized a majority of Americans are concerned about data breaches and having their credit card information stolen.
"As the committee examines the larger consumer data privacy debate, we urge you to recognize that the security of consumer data is another important reason why a national data security standard needs to be considered," Thaler wrote.
CUNA’s Response
CUNA weighed in with a letter, as well.
“Privacy and the use consumers’ personal information is likely to a major issue for technology, fintech and other companies moving forward. Any consideration of a national privacy legislation should also include serious discussion on data security and breach notification,” wrote CUNA President/CEO Jim Nussle. “Keeping information secure should be the top priority as stolen information circumvents any law or regulation prescribing how information can be used.”