January 14, 2014

CNBC, more spread NAFCU call for data security action

Jan. 15, 2014 – NAFCU's call to congressional leaders pressing for action on data security was mentioned Tuesday in a CNBC report and others discussing two senators calling on the Target Corporation chief executive to answer questions on the breach.

The report points to letters NAFCU President and CEO Dan Berger sent to House and Senate leaders on Monday that reiterated the association's call for hearings and legislation on merchant data standards.

In his letters, Berger emphasized that credit unions and other financial institutions are already subject to stringent data protection requirements under the Gramm-Leach-Bliley Act, but merchants and retailers are not.

The reports article also noted that Senate Commerce Committee Chairman John Rockefeller, D-W.Va., and subcommittee Chairman Claire McCaskill, D-Mo., sent a letter to Target CEO Gregg Steinhafel on the data breach.