NAFCU: Suspected Bebe Stores breach a reminder of the need for national data security and breach notification standards for retailers

WASHINGTON, DC (December 4, 2014) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger reiterated the association’s push for national data security and breach notification standards for retailers amid news of a possible data breach at Bebe Stores, Inc., a nationwide chain of about 200 women’s clothing stores.

“Despite a year-long rash of retail data breaches since the massive Target data breach, nothing has changed for American consumers in terms of greater data security or breach notification standards for retailers,” said Berger. “Congress needs to put an end to cybercriminals’ free rein on consumers’ financial and personal information and make retailers subject to the same national data security standards that apply to financial institutions, such as the requirements of the Gramm-Leach-Bliley Act.”

NAFCU was the first financial trade organization to call for national data security standards for retailers, and it continues to push for legislative action on Capitol Hill. NAFCU is a member of the Payments Security Task Force. The task force is a diverse group of participants in the payments industry focused on EMV chip implementation, including ways to help reduce testing and implementation time, as well as driving a discussion on payments system security. NAFCU is also a member of the Financial Services Sector Coordinating Council and the Financial Services Information Sharing and Analysis Center, which work on infrastructure cybersecurity.

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

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