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NAFCU and six other financial trade associations yesterday wrote Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo., in support of their data security bill, which would bring retailers under a national standard akin to that prescribed under the Gramm-Leach-Bliley Act for financial institutions.
The House Energy and Commerce Committee on Wednesday approved H.R. 1770, the "Data Security and Breach Notification Act," by a vote of 29 to 20, but NAFCU is pressing lawmakers to strengthen language regarding merchant data security standards.
Witnesses at a Senate Banking Committee hearing raised concerns about CFPB's mortgage rules cap on points and fees, the designation of rural status and the debt-to-income ratio requirements for qualified mortgages.
We've heard or seen the numbers. Employees are not engaged with their work. In fact, some have gone so far to say that as few as 13 percent of employees are truly engaged while at work.
The time and resources it takes to notify members, reissue cards, and make members whole in instances of fraud is overwhelming. Federal standards must exist for merchants on the safekeeping of financial and personal information, as well as data breach notification.
Download our RBC2 Talking Points and Comment Letter template to help write your comments to NCUA. Help fight this expensive, unnecessary regulatory burden.