CUNA to Congress: Privacy protection is rooted in data security
WASHINGTON, DC (September 25, 2018) — Credit Union National Association (CUNA) sent a letter for the record ahead of the Senate Commerce Committee hearing on the on safeguards protecting consumer data privacy. CUNA is prompting Congress to ensure current laws and examination practices are properly protecting credit union members private information.
“Privacy and the use consumers’ personal information is likely to a major issue for technology, fintech and other companies moving forward. Any consideration of a national privacy legislation should also include serious discussion on data security and breach notification,” wrote CUNA President/CEO Jim Nussle. “Keeping information secure should be the top priority as stolen information circumvents any law or regulation prescribing how information can be used.”
Nussle also detailed the current data protection requirements facing credit unions, which includes Bank Secrecy Act laws that require the collection of information from account holders and federal or state examinations.
Read the full letter here.
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 120 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.