FOR IMMEDIATE RELEASE
Oct. Economic & CU Monitor:
National Data Security for Retailers Should Be Priority for Congress
- The National Association of
Federal Credit Unions (NAFCU) released its October Economic & CU Monitor survey on data security and cybersecurity
that continues to underscore the need for Congress to take action on national
data security standards for retailers.
“Our Oct. ECUM
shows credit unions and consumers will only be
protected when retailers and merchants are subject to
robust federal data safekeeping standards,” said NAFCU Chief Economist
Curt Long. “Unfortunately, retailers and merchants are not subject to the same
data security standards as financial
institutions. This leaves consumers’ sensitive financial information
extremely vulnerable to cybercriminals.”
Since 1999, financial institutions have had to
adhere to the stringent standards of the Gramm-Leach-Bliley Act
that help safeguard consumers’ sensitive personal and financial information.
Some of the highlights in the survey include the
NAFCU continues to urge Congress to pass data
security legislation that make retailers and
merchants responsible for breaches that occur on their end.
Association of Federal Credit Unions is the only national trade association
focusing exclusively on federal issues affecting the nation’s federally insured
credit unions. NAFCU membership is direct and provides credit unions with the
best in federal advocacy, education and compliance assistance. www.nafcu.org.
Patty BriottaDirector of Public RelationsOffice:email@example.com