League contacts Sen. Shelby to voice opposition to CISA amendment

Sen. Elizabeth Warren(D-MA) added an amendment to S. 754, the Cybersecurity Information Sharing Act, that would grant the NCUA additional authority to supervise third-party vendors. The League and CUNA oppose the amendment. CUNA sent a letter to Senate Majority Leader Mitch McConnell (R-SC) and Senate Minority Leader Harry Reid (D-NV) outlining the opposition. The League […]

Sen. Richard ShelbySen. Elizabeth Warren(D-MA) added an amendment to S. 754, the Cybersecurity Information Sharing Act, that would grant the NCUA additional authority to supervise third-party vendors. The League and CUNA oppose the amendment. CUNA sent a letter to Senate Majority Leader Mitch McConnell (R-SC) and Senate Minority Leader Harry Reid (D-NV) outlining the opposition. The League followed suit with Senate Banking Committee Chairman Richard Shelby (R-AL).

“Immediately upon the amendment’s filing, we contacted Sen. Shelby’s staff to voice our opposition to the amendment. All indications are the amendment is not likely to become part of a final bill, but it is still important that we remain vigilant should the need for grassroots action become necessary,” said LSCU & Affiliates President/CEO Patrick La Pine.

The bill currently has 94 amendments attached.  The League and CUNA don’t believe that the NCUA currently has the capacity to supervise these entities and conveying this authority will require the agency to spend considerable credit union member resources to manage and implement this authority.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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