Draft legislation addressing data breaches was released Friday, two days after a CUNA witness testified before a House Financial Services subcommittee on how these breaches harm credit unions. The draft bill, from Reps. Blaine Luetkemeyer (R-Mo.) and Carolyn Maloney (D-N.Y.), contains the principles CUNA’s witness said should be part of any legislation.
“We thank the House Financial Services Committee for its attention to this issue this week, and to Reps. Luetkemeyer and Maloney for announcing this bill,” said CUNA President/CEO Jim Nussle. “We laid out in our testimony this week, and in past communications to Congress, what principles should be a part of data breach legislation. While changes to this legislation are bound to happen, it contains the essential principles we believe must be in any federal data breach legislation, and we’ll continue our engagement as the bill moves through the legislative process.”
continue reading »