Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Leagues voice appreciation for congressional response to Target breach
WASHINGTON (1/16/14)--Credit unions continue to inform lawmakers of the repercussions of the Target security breach and are recognizing those who have responded to the growing issue.
 
For instance, immediately after the Target breach notification, the Missouri Credit Union Association contacted the Missouri congressional delegation, and continues to follow developments.
 
In a letter released Tuesday, Sens. Claire McCaskill (D-Mo.) and Jay Rockefeller (D-W.Va.) called for a briefing from the retailer about the data breach that exposed personal information of more than 70 million consumers.
 
McCaskill is chair of the Senate subcommittee on consumer protection, product safety and insurance; Rockefeller is chair of the Senate Commerce Committee.
 
"It has been three weeks since the data breach was discovered, and new information continues to come out," the senators wrote. "We expect that your security experts have had time to fully examine the cause and impact of the breach and will be able to provide the committee with detailed information."
 
"It is clear that members of the Missouri delegation understand data breaches are a concern for credit unions in the state and are taking steps to address that concern," said Don Cohenour, president/CEO, Missouri Credit Union Association (Missouri Difference Jan. 15). "We will continue our efforts to communicate information that will help lawmakers better address these issues."
 
Last week, Sen. Patrick Leahy (D-Vt.) reintroduced the Personal Data Privacy and Security Act--a move that drew praise from Joe Bergeron, president, Association of Vermont Credit Unions. Although the bill is not specific to credit unions, he said, it addresses growing marketplace issues that are detrimental to credit unions. (NewsLines Express Jan. 10)
 
Also, the Credit Union National Association has reached out to House Financial Services and Senate Banking Committee leaders, encouraging them to "fully examine the chronic issue of merchant data breaches, their impact on consumers and financial institutions." (See Tuesday's News Now "House Financial Services will have data security hearings, chairman says.")
RSS print
News Now LiveWire
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
58 minutes ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
2 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
3 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
3 hours ago
.@MICreditUnions is recruiting member #creditunions to participate in a campaign to help state residents thrive in retirement.
3 hours ago