President’s call for stronger security a springboard to data security modernization
WASHINGTON, DC (February 6, 2019) — Credit Union National Association (CUNA) calls on policymakers to create a national data security framework. The association, which advocates on behalf of America’s 115 million credit union members, believes that data security and privacy must be a national security priority.
“America’s focus on national security must extend beyond strictly physical concerns like our border and our defense interests. It is imperative that we protect our nation’s digital infrastructure from the ever-increasing cyber-attacks that create financial calamity, jeopardize Americans’ privacy, and monetarily bolster foreign bad actors,” said CUNA President/CEO Jim Nussle. “The current patchwork of data security and privacy regulations creates gaps through which cybercriminals continue to exploit every American’s personal and financial data. If our leaders are serious about protecting Americans, then real solutions to data security and privacy must be a priority.”
Enhancing information security continues to be a priority issue of concern for credit unions and key pillar in CUNA’s 2019 advocacy agenda. CUNA continues to work with a coalition of financial services industry members to enact legislation that would require strong data security standards.
According to research from the Identify Theft Research Center, over 1.5 billion records have been exposed and nearly 10,000 breaches reported since 2005. In 2018, alone, 446.5 million records were exposed.
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.