Ahead of today’s Senate Banking Committee hearing on consumer data security at the credit bureaus, NAFCU Executive Vice President of Government Affairs and General Counsel Carrie Hunt sent a letter reiterating NAFCU’s call for a stronger national data security standard under which companies that maintain consumers’ financial records are incentivized to protect the data.

The hearing – further follow-up to the Equifax data breach that affected potentially more than 145 million Americans – begins at 10 a.m. Eastern.

In her letter to Senate Banking Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, Hunt wrote that credit reporting agencies already subject to parts of the Gramm-Leach-Bliley Act (GLBA), like Equifax, should be subject to the same regulatory requirements as depository institutions.

 

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