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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.
- 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, 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...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 4, 2018January 4, 2018 The Honorable Greg Walden Chairman House Energy & Commerce Committee 2125 Rayburn House Office Building Washington, DC 20515 The Honorable Bob Latta Chairman Subcommittee on Digital Commerce and Consumer Protection 2125 Rayburn House Office Building Washington, DC 20515 Dear Chairman Walden and Chairman Latta: The undersigned organizations, representing companies across the...January 3, 2018This report from KPMG LLP (KPMG) offers a high-level look at ten key regulatory challenges we believe will influence and impact the financial service industry in the coming year. The report also highlights the drivers behind these challenges and serves as a guide to actions financial services companies can take to address them. Click here to access the report: Ten Key Regulatory Challenges for...November 28, 2017 - 2:00PMPastNovember 1, 2017November 1, 2017 The Honorable Blaine Luetkemeyer Chairman Subcommittee on Financial Institutions and Consumer Credit Washington, D.C. 20515 The Honorable William Lacy Clay Ranking Member Subcommittee on Financial Institutions and Consumer Credit Washington, D.C. 20515 Dear Chairman Luetkemeyer and Ranking Member Clay: Data security breaches continue to put millions of consumers at risk, and...October 31, 2017 - 1:00PMPast