WASHINGTON (4/19/13)--The Cyber Intelligence Sharing and Protection Act (CISPA) (H.R. 624) passed the House by a 288 to 127 vote on Thursday, and the Credit Union National Association in a joint letter commended the bill's voluntary approach to information sharing.
Such an approach avoids creating additional regulatory burden for American businesses, the letter said. CISPA is the fourth cybersecurity bill CUNA has supported this week. (Use the resource link to read April 17 News Now story: CUNA: Cybersecurity Bills Offer Coordination, Protections.)
CISPA would facilitate and increase cyber intelligence information sharing between public- and private-sector organizations. The bill would also provide privacy protections for consumers by limiting the inclusion of consumer data in shared threat information.
The bill "continues to protect an individual's privacy, while allowing for the sharing of critical threat information essential to secure the public and private sector, as well as individuals," the letter said.
CUNA co-signed the letter with the American Bankers Association, the Consumer Bankers Association, the Electronic Funds Transfer Association, the Financial Services Roundtable, the Independent Community Bankers of America, NACHA-The Electronic Payments Association and the Securities Industry and Financial Markets Association.
CUNA continues to work with the National Credit Union Administration, the U.S. Treasury's Financial Services Sector Coordinating Council, BITS, the Treasury and other entities to coordinate on cybersecurity issues, and to ensure that credit unions are not unduly impacted from the cybersecurity framework for critical infrastructure entities. The financial services sector is more prepared than most to deal with cybersecurity issues as a result of Y2K preparations, CUNA has noted.