WASHINGTON — Noting that a strong partnership is needed between the private and public sectors to better protect the U.S. cybersecurity infrastructure, NAFCU and CUNA joined 10 other financial organizations Monday in supporting the National Cybersecurity and Critical Infrastructure Protection Act, H.R. 3696.
Leaders of the House Committee on Homeland Security introduced the bill that is slated for subcommittee mark-up Wednesday.
"Among other provisions, this bill would strengthen existing mechanisms such as the Financial Services Sector Coordinating Council and the Financial Services Information Sharing and Analysis Center that help our sector identify threats, respond to cyber incidents and coordinate with government partners," the bill's signers wrote.
According to the joint trade letter, H.R. 3696 would also:
- Improve the provisioning of security clearances for those involved in cybersecurity information sharing.
- Expand the existing Support Anti-Terrorism by Fostering Effective Technologies Act to provide important legal liability protections for providers and users of certified cybersecurity technology in the event of a qualified cybersecurity incident.
The letter was sent to committee Chairman Michael McCaul (R-Texas), and Ranking Member Bernie Thompson (D-Miss). Letter signers also include: the American Bankers Association, the Clearing House, the Consumer Bankers Association, the Electronic Funds Transfer Association, Financial Services, Financial Services Roundtable, the Independent Community Bankers Association, the Investment Company Institute, NACHA — The Electronic Payments Association, and the Securities Industry and Financial Markets Association.
As attention to cyber security ramps up nationwide in the
The 17 Democrats drafted a letter to House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas), requesting a hearing to investigate the recent breach, to review laws set up to protect consumers and to determine necessary future steps to ensure consumers' data security.
