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CBA: Data Privacy Act Would Bolster Protection Of Consumers’ Personal Financial Information
Consumer Bankers Association (CBA) President and CEO Lindsey Johnson today released the following statement after the House Financial Services Committee held a markup to advance the Data Privacy Act, legislation proposed by Chairman Patrick McHenry (R-NC) that would bolster the protection of consumers’ personal financial information:
“America’s leading banks remain fully committed to protecting the privacy of consumers’ personal financial data. As the banking industry rapidly evolves, Congress must take steps to ensure all Americans receive the high level of protections they deserve and have come to expect from their bank, regardless of where they live or go to meet their unique needs. CBA applauds Chairman McHenry for advancing legislation that would further this shared objective by establishing uniform national standards for consumer data privacy. We look forward to working with policymakers across the ideological spectrum to deliver modernized federal privacy standards that are strong, durable, and apply equally to the entire financial services ecosystem.”
Earlier this month, CBA outlined priorities and key considerations for policymakers as they consider the creation of a national data privacy framework. To read the letter, click HERE.