The ranking Republican on the House Financial Services Committee is requesting hearings on data security in the financial industry, including the role that regulators play in the oversight of data protection.
“Over the last eight months, we’ve heard from chief executive officers and prudential regulators regarding the most significant issues facing the financial industry, and they all agree that cybersecurity and data protection are critical priorities,” Rep. Patrick McHenry (R-N.C.), wrote in a letter Wednesday to Financial Services Chairwoman Maxine Waters (D-Calif.).
In the letter, McHenry cites the recent Capitol One data breach as evidence that the hearings are needed.
McHenry requested that the hearings include an examination of third-party service providers—a thorny issue in the credit union community.
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