CUNA-backed Data Security Act will protect American consumers
House Financial Services Committee passes legislation by a vote of 46 to 9
WASHINGTON, DC (December 9, 2015) — Jim Nussle, president/CEO of the Credit Union National Association (CUNA), issued the following statement after the House Financial Services Committee voted in favor of H.R. 2205, the Data Security Act of 2015:
“The House Financial Services Committee voted today to protect consumers by strengthening our country’s data security laws. The CUNA-backed Data Security Act will prevent breaches by providing a higher standard for all who accept payments, better notification procedures and a federal law that will replace the cumbersome patchwork of state laws. We thank the members of the Committee who voted in favor of protecting the American consumer, and urge House leadership to quickly bring the legislation to the House floor. Until retailers adhere to the same standards that financial institutions are beholden to, millions of consumers will remain at risk.”
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.