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Fraud & Cybersecurity
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.
- July 31, 2018July 31, 2018 The Honorable Bob Latta Chairman Subcommittee on Digital Commerce and Consumer Protection 2125 Rayburn House Office Building Washington, DC 20515 Dear Chairman Latta: We sincerely appreciate the opportunity to participate in your discussions over the last several months about data breach legislation. Data security breaches continue to put millions of consumers at risk, and we share...
- June 7, 2018 - 2:00PMPastMay 18, 2018WASHINGTON HAPPENINGS In a Fortnight – Two Items on CBA’s watch list ahead of Memorial Day include: A House Vote on Senate Banking Bill – The Senate’s regulatory relief bill, which CBA supports, is expected to receive a vote in the House this Tuesday, May 22 . McWilliams Confirmation as FDIC Head – President Trump’s nominee to head the FDIC Jelena McWilliams is expected to receive a confirmation...May 16, 2018 - 3:00PMPastMay 9, 2018On Wednesday, May 9, 2018, CBA sent a letter to the Financial Crimes Enforcement Network (FinCEN) expressing full support of its efforts to crack down on illegal activities through its final Customer Due Diligence Rule (CDD rule). CBA expressed appreciation for the implementation time banks were given to comply with the complex data collection rule, particularly following unexpected developments...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...