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News Now

Washington
CUNA Thanks Senate Commerce Committee For Cybersecurity Efforts
WASHINGTON (7/31/13)--National cybersecurity efforts require the active participation of the government, business and every consumer, and the Cybersecurity Act of 2013 (S. 1353) "takes a significant step towards encouraging the participation of all, while providing the tools to defend against cyber threats," the Credit Union National Association said in a joint trades letter sent to the U.S. Congress this week.

The letter thanked Senate Committee on Commerce, Science and Transportation Chairman Jay Rockefeller (D-W. Va.) and Ranking Member John Thune (R-S.D.) for their leadership in forging the bipartisan S. 1353. That bill passed out of the committee on a voice vote Tuesday afternoon.

The bill, which was introduced on July 24, would improve cybersecurity by:
  • Encouraging the private and public sectors to collaborate on standards, guidelines and best practices;
  • Increasing research and development for the design and testing of software;
  • Upgrading education for the work force and students so that they will be better prepared to stimulate and support innovation in cybersecurity, and
  • Promoting a national cybersecurity awareness campaign.
The letter was co-signed by the American Bankers Association, The Clearing House, Consumer Bankers Association, Electronic Funds Transfer Association, Financial Services - Information Sharing and Analysis Center, the Financial Services Roundtable, Independent Community Bankers Association, NACHA-The Electronic Payments Association, the National Association of Federal Credit Unions and the Securities Industry and Financial Markets Association.
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