Removing Barriers Blog

CUs are dedicated to protecting customer information and have cybersecurity as a top concern
Posted December 05, 2019 by CUNA Advocacy

Earlier this week, CUNA wrote to Chairwoman Waters and Ranking Member McHenry reiterating that credit unions and the financial services industry are dedicated to protecting customer information along with working to ensure that systems used to provide financial services to Americans are robust, secure and resilient. CUNA appreciates the Committee’s strong commitment in overseeing the financial services sector and agree that cybersecurity, specifically the vulnerability of financial or institutions to cyberattacks is an important issue. 

The letter stated, “CUNA members continue to highlight cybersecurity as a top concern as protecting systems from outside threats becomes ever more complicated. Credit unions of all sizes invest significant resources to protect critical systems from attack." 

The letter adds that these efforts, along with several industry-led initiatives to share information and bolster resilience for all types of financial organizations, demonstrate that the financial services industry along with financial regulators expend great efforts to ensure that the system remains robust.

CUNA continues to see an important role for the federal government in requiring cyber preparedness for other industries and working to protect financial institutions from cyber-attacks.