NAFCU's Watson at Black History Month event on cybersecurity
Today, NAFCU Regulatory Compliance Counsel Reggie Watson will speak at a STEM4US! event highlighting cybersecurity and diversity in the financial services industry.
The event, 2019 Black History Month Reception & Conversation with Financial Service Leaders Hosted by NASDAQ, will have a panel discussion featuring financial industry and educational experts.
On the panel, Watson will share the association's positions on cybersecurity, credit unions’ efforts to educate members on cybersecurity, and the importance of diversity in the financial services space.
Attendees at the event will also hear from House Financial Services Subcommittee on Diversity & Inclusion Chairwoman Joyce Beatty, D-Ohio, and Rep. Sheila Jackson Lee, D-Texas.
NAFCU remains the industry leader on cybersecurity and has long been active with lawmakers on this issue:
- NAFCU was the first group after the massive 2013 Target data breach to call for a legislative solution to reform the nation's data security system.
- NAFCU has previously shared with Congress the principles credit unions would like to see addressed in any comprehensive cyber and data security legislation.
- Both the House Financial Services Committee and Senate Banking Committee have identified data security legislation as a priority for the 116th Congress to ensure consumers are protected.
- NAFCU has argued that credit bureaus should be examined for compliance under the Gramm-Leach-Bliley Act (GLBA), and that negligent entities should be held accountable when a data breach occurs on their end.
- NAFCU acknowledges that fintech can produce real benefits to consumers, including increased speed, convenience and new product offerings that make it easier for them to manage their financial lives. However, the association has urged lawmakers and regulators to ensure a level playing field between fintech companies and financial institutions, from data security to consumer protection.
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