Newsroom

June 09, 2015

Berger, in Lubbock paper, backs Neugebauer data security bill

Support for bipartisan data security legislation sponsored by Rep. Randy Neugebauer, R-Texas, was lodged in a letter to the editor from NAFCU President and CEO Dan Berger in the Lubbock Avalanche-Journal, which serves Neugebauer's home district.

Berger, in his letter published Tuesday, said Neugebauer has been a leader on financial services issues and challenges facing small business owners. He said the bill "shows leadership amid ongoing retailer data breaches that are wreaking havoc on consumers."

"Merchant data breaches bring more than inconvenience to consumers left waiting for replacement cards; they can lead to fraudulent account activity, damaged credit scores and identity theft," Berger wrote. "As credit unions across Texas help families with serious financial matters, data security should be the last thing folks have to worry about."

NAFCU continues to urge support for the legislation, the "Data Security Act of 2015" (H.R. 2205/S. 961) especially in the wake of a number of recent large data breaches. The association is pushing for a strong national standard for retailers, akin to what financial institutions already have under Gramm-Leach-Bliley.