NAFCU President and CEO Dan Berger, in a new opinion piece in Credit Union Journal, highlights the need for Congress to take action and implement a strong national data security standard for retailers in the wake of continued massive data security breaches.
“Credit unions have been steadfast in protecting their members’ information, but credit unions cannot control the subpar security of the retailers their members use,” Berger says. “After each breach, retailers pass the costs off to consumers and their financial institutions. Credit unions make their members whole every time … Other industries have not proven themselves to be so steadfast.”
Berger noted that outside of the Gramm-Leach-Bliley Act, which credit unions and other financial institutions have been subject to since 1999, there is no standard, putting consumers at constant risk when they shop.
The post Berger: Tell Congress to hold retailers accountable appeared first on CUInsight.
June 07, 2017 at 06:22PM
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