Washington Wire – Feb. 21, 2018

It’s a busy week in Washington, following activity on fighting data breaches last week. On Friday afternoon, Representatives Luetkemeyer and Maloney released draft legislation addressing data breaches. As currently drafted, the legislation contains principles CUNA’s witness, Kim Sponem, addressed during the hearing on Wednesday. The draft bill contains the following CUNA-backed principles: A flexible, scalable […]

It’s a busy week in Washington, following activity on fighting data breaches last week. On Friday afternoon, Representatives Luetkemeyer and Maloney released draft legislation addressing data breaches. As currently drafted, the legislation contains principles CUNA’s witness, Kim Sponem, addressed during the hearing on Wednesday.

The draft bill contains the following CUNA-backed principles:

  • A flexible, scalable data protection standard;
  • A notification regime requiring timely notice to impacted consumers, law enforcement and applicable regulators;
  • Consistent, exclusive enforcement of the new national standard by the Federal Trade Commission and state attorneys general; and
  • Clear preemption of the existing patchwork of often conflicting and contradictory state laws.

Read the full Washington Wire here.

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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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