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The Senate Finance Committee will organize for its first hearing of the 114th Congress today, focusing on "Jobs and a Healthy Economy." NAFCU will attend this and other hearings in the coming days on issues important to credit unions, including housing finance reform and data security breaches.

The Senate Finance hearing will be the first with new Chairman Orrin Hatch, R-Utah; Sen. Ron Wyden, D-Ore., will now serve as ranking member.

Other upcoming hearings include a House Financial Services Committee hearing on "sustainable housing finance" Jan. 27 with Federal Housing Finance Agency Director Mel Watt.

Also that morning, the Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade will meet for a hearing on what elements are needed in data breach legislation. "Data theft is a real and serious threat facing American families," said Subcommittee Chairman Michael Burgess, R-Texas. "I am encouraged by the president's recent focus on this issue and call for a national standard, and I agree. Working toward a federal data breach solution is a top priority for our new Congress."

NAFCU continues to push for action in Congress on a national data security standard for retailers and action addressing cybersecurity threats. The association was the first financial trade group to call for a national data security standard for retailers in the wake of the Target breach.