Data breaches

Consumers were scaling back Facebook usage even before last month's news of a massive data breach at the social network, leading some credit unions to question how they use the site.

Collaboration is a critical part of how we prevent cyberattacks from turning into breaches that put consumer payment card data at risk, writes Lance Johnson, executive director of PCI SSC.

The law gives residents more — and welcome — control over their data. But it will take work for credit unions to meet the new requirements, such as possibly having to amend third-party vendor agreements.

State regulators and advocacy groups say a federal breach notification standard could supersede state laws that already benefit consumers.

Once personal and financial information is accessible to criminals, it feeds the pipeline of future cybercrime for years to come, writes Ryan Wilk, vice president of customer success for NuData Security.

While nearly all banks, financial institutions and other organizations have a disaster recovery strategy in place, it’s clear that these plans are not enough to ensure these organizations remain online, regardless of what happens, according to Gijsbert Jassen van Doorn, technology evangelist at Zerto.

Organizations that lack security controls and have experienced a breach can expect auditors, regulators and standards bodies to knock on their doors demanding information, writes Fouad Khalil, head of compliance and SecurityScorecard.

The time is now for Congress to enact stricter data security standards that better protect credit unions and consumers.

Heading into the mid-terms, credit unions must remain focused on how to move forward these four key legislative and regulatory initiatives.

Sen. Elizabeth Warren and Rep. Elijah Cummings have called for an update on probes into the credit reporting giant a year after its massive data breach came to light.