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NAFCU Regulatory Affairs Counsel Andrew Morris is at the Treasury Department today for a meeting with the Financial Services Sector Coordinating Council (FSSCC), of which NAFCU is a founding member, to discuss various cybersecurity updates.

The meeting is jointly hosted with the Financial and Banking Information Infrastructure Committee (FBIIC). NAFCU has worked with both the FSSCC and FBIIC on cybersecurity issues.

During today's meeting, Morris will receive an update on various cybersecurity-related initiatives, including from the Financial Systemic Analysis and Resilience Center. The meeting will also review a report on the World Economic Forum's new consortium to address fintech cybersecurity.

Other sessions during today's meeting include a presentation from Verizon on data breaches and a brief from the U.S. Cyber Command on the Department of Defense's cyber capabilities.

NAFCU is a leading advocate for a strong national data security standard and supports an objective, risk-based approach to cybersecurity that grants financial institutions the flexibility to adopt controls based on their own assessments of threats or risk factors. The association also supports holding fintech to the same data security standards as credit unions, and maintaining a fair playing field in the financial marketplace.