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CBA supports strong national data protection and consumer notification standards with effective enforcement provisions that are applicable to any party with access to important consumer financial information. CBA members are already subject to robust data protection and notification standards and these requirements must be recognized. Inconsistent state laws and regulations should be preempted in favor of strong Federal data protection and notification standards. CBA firmly holds that all parties must share in protecting consumers and, as such, the costs of a data breach should ultimately be borne by the entity that incurs the breach. Protecting consumer data is a shared responsibility, and merchants must have the same tough data security standards as financial institutions to thwart hackers as well as the ability to accept chip-based cards.
- March 9, 2018Your Guide to a Great CBA LIVE Journey — We are ready for CBA LIVE 2018: Beyond the Bank. Returning for our ninth year — yes, CBA LIVE has been running for nine years straight — nearly 1,500 senior banking leaders, including more than 650 bankers and 200 speakers, will join us in Orlando for a conference they will not soon forget. Each year, the conference continues to grow and members of Team...
- March 7, 2018WASHINGTON – Consumer Bankers Association President and CEO Richard Hunt today announced the association’s support for the Data Acquisition and Technology Accountability and Security Act introduced by Reps. Blaine Luetkemeyer (R-Mo.) and Carolyn Maloney (D-N.Y.). The House Financial Services subcommittee on Financial Institutions and Consumer Credit is holding a hearing on the legislation this...
- March 6, 2018 - 2:00PMPastMarch 6, 2018March 6, 2018 The Honorable Blaine Luetkemeyer Chairman Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit U.S. House of Representatives 2230 Rayburn House Office Building Washington, D.C. 20515 The Honorable Lacy Clay Ranking Member Committee on Financial Services Subcommittee on Financial Institutions and Consumer Credit U.S. House of Representatives 2428...February 28, 2018WASHINGTON — Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill. Bank and credit union trade associations sent a letter to House lawmakers on Wednesday supporting a data security proposal being put forward by Reps. Blaine Luetkemeyer, R-Mo...February 15, 2018 - 11:00AMPastJanuary 23, 2018 - 2:00PMPastJanuary 10, 2018On Wednesday, January 10, 2018, the FDIC issued the Supervisory Insights , which includes articles on credit Management Information Systems (MIS) and recent results from the FDIC's Credit and Consumer Products/Services Survey. "A key component of a bank's risk management program is a strong credit MIS, which uses loan data to develop timely and meaningful reporting for a bank's board and senior...January 8, 2018A group of financial, retail and technology trade associations are calling on the federal government to oversee data breaches. According to a report in American Banker , 22 trade groups sent a letter to lawmakers urging the House Energy and Commerce Committee to create data protection legislation with a flexible, scalable standard, which would take into account the size of the business, the cost...January 8, 2018WASHINGTON — Twenty-two financial, retail and technology trade associations have sent a letter to the House Energy and Commerce Committee calling for new federal regulations governing data breaches that would preempt state law. The groups said new legislation should create a “flexible, scalable” standard that would account for the size, cost and nature of data collected by a company and that it...