Credit union league presidents raise voices for data breach protection
Credit union leaders continue to shape the narrative surrounding the data breach issue through both media and political channels. That narrative has begun to include work between credit union and bank organizations to coordinate joint messages about concerns regarding inconsistent data security standards for merchants.
Supporting the Credit Union National Association’s efforts on Capitol Hill, the Ohio Credit Union League is joining forces with the Ohio Bankers League (OBL) to press Ohio’s congressional delegation to hold merchants accountable for customer data protection lapses ( eLumination Oct. 16).
A joint letter from Ohio league President/CEO Paul Mercer and OBL President Mike Adelman will be sent next week to House Financial Services Committee members Rep. Joyce Beatty (D-Columbus) and Rep. Steve Stivers (R-Ohio), and Senate Banking Committee member Sherrod Brown (D-Ohio).
The letter will ask for immediate steps to create equal data protection standards for all involved in the payments process, accountability for merchants that fail to protect customer data, and recovery of financial loss among institutions impacted by merchant negligence. The letter will be copied to all of Ohio’s members of Congress.
The New Jersey Credit Union League (NJCUL) has also taken the lead and reached out to the New Jersey Bankers Association to support data-security bills pending committee action in the state Assembly and Senate, Greg Michlig, NJCUL president/CEO, told News Now Thursday.continue reading »