On cusp of Senate cyber action, NAFCU pushes data security

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU’s efforts to secure greater security for financial and other data were poised for a big step forward Wednesday evening as the Senate geared up to consider a measure encouraging business/government sharing of cyber-threat information.Scheduled to take up the defense authorization act, the Senate was also being asked to consider an amendment to that bill which contained the text of the Cybersecurity Information Sharing Act, S. 754. Known as CISA, the amendment, offered by Sen. Richard Burr, R-N.C., is intended to help the nation defend against cyber-attacks through quicker, more efficient sharing of cyber-threat information between two sectors.S. 754 was recently approved on a near-unanimous and bipartisan basis by the Select Committee on Intelligence.NAFCU was joined in a letter by three other financial trade groups to Senate Leader Mitch McConnell, R-Ky., and Ranking Member Harry Reid, D-Nev., in support of S. 754. The other trade groups were CUNA, the Independent Community Bankers of America and the Consumer Bankers of America.The groups also urged Senate leaders to expedite consideration of the “Data Security Act of 2015,” S. 961. Introduced by Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo., the legislation “would ensure that all entities that handle sensitive financial and personal information have common-sense safeguards and processes in place to protect data and notify consumers in the event of a breach,” they wrote. continue reading »last_img

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