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April 19, 2013 – The House on Thursday passed H.R. 624, the "Cyber Intelligence Sharing and Protection Act," to clarify the National Security Act and promote the sharing of cyber intelligence between the public and private sectors.

NAFCU Vice President of Legislative Affairs Brad Thaler wrote House leaders Tuesday to urge that Congress keep data security concerns in mind as they debate cybersecurity. On Wednesday, NAFCU and 10 other financial industry groups wrote House members in support of the bill and emphasized the importance of addressing consumer privacy issues.

In their letter, the groups supported provisions in the bill aimed at making information sharing voluntary rather than forced and regulated.They also wrote that they remain committed to ensuring cyber threat information can be shared between and among appropriate public and private entities in real time.

H.R. 624 includes measures to protect institutions from liability when they make decisions based on shared information about threats.

The bill passed with a vote of 288 to 127 and is headed to the Senate, which is likely to consider its own package of cybersecurity measures.