Yesterday the Financial Services Roundtable, along with the Retail Industry Leaders Association, sent a letter to Congress encouraging legislation to allow for better cooperation in combating cyberthreats.
"Working together, the merchant and financial services communities support federal legislation that would increase the current level of voluntary cybersecurity information sharing," the letter reads, while acknowledging the need to preserve privacy. The groups want more information and involvement from the government in repelling cybersecurity threats. The Financial Services Roundtable has pushed for comprehensive cybersecurity legislation for years.
In particular the letter, sent to all members of Congress, pushes for increased governmental funding of cybersecurity research and development, updates to the criminal code regarding cybercrime, and "enhancing law enforcement capabilities" to deal with international hacks, along with the information sharing provisions.
Information sharing was a sensitive topic even before Edward Snowden's National Security Agency leaks because it involves granting governmental access to consumer data, amongst other potential political and legal pitfalls.