CUNA takes breach concerns to Equifax, requests briefing

CUNANews

CUNA President/CEO Jim Nussle encouraged Equifax to take additional steps to notify all consumers impacted by its data breach in a letter sent Wednesday. Equifax announced the breach late last week, which it said impacts 143 million American consumers, with an additional 209,000 credit card numbers also being stolen. “We encourage Equifax to develop stronger methods to ensure that all … Read More

CUNA Letter to Equifax

CUNANews

The Credit Union National Association (CUNA) represents America’s credit unions and their 110 million members. We are writing this letter to voice our concerns over the September 7 announcement of a “cybersecurity incident involving consumer information.” The document contained on Equifax’s website states that, “information accessed during the breach primarily includes names, Social Security numbers, birth dates, addresses and, in … Read More

CUNA monitoring Equifax data breach impacting 143M consumers

CUNANews

Credit bureau Equifax announced Thursday it experienced a cybersecurity incident potentially impacting as many as 143 million American consumers. CUNA is monitoring the situation and working with other financial trade groups to assess if the situation will affect financial institutions. According to the company, it has found no evidence of unauthorized activity on Equifax’s core consumer or commercial credit reporting … Read More

AFTER EQUIFAX HACK, GROUPS PRESS FOR STRONGER DATA BREACH LAWS

CUNANews

Equifax’s data breach has drawn fresh attention to a lack of uniform federal data security standards. A wide variety of associations have called on Congress to establish standard requirements for breach disclosure and data security. In the wake of the enormous Equifax data breach, which first came to light last week, a variety of associations are calling for stronger federal … Read More

CU trades speak out after Equifax breach

CUNANews

Stop me you think you’ve heard this one before. Following this weeks’ news of the massive data breach at Equifax, credit union trade associations are once again calling for a congressional solution to a problem that has plagued consumers for years. “The massive breach at Equifax, and the report that they had known about it for weeks without notifying consumers, … Read More

Retailers Are Playing ‘Political Football’ with EMV

CUNANews

Last week U.S. House Small Business Committee held the second part of a hearing entitled “The EMV Deadline and What it Means for Small Businesses,” which was supposed to address payment security in the United States. Instead of providing Congress with useful information about how to help small businesses protect consumer data, large national retail associations used the hearing to … Read More

Retailers Must Adjust to Fraud’s Faster Pace

CUNANews

In today’s fast-paced, digital age, when smartphones are “outdated” six months after they’re released, nothing stays the same for long, and that includes payments fraud. Fraudsters have been busy adopting new techniques and adapting old ones to take advantage of weaknesses in payments systems. Credit cards and debit cards have become especially vulnerable. While checks remained the top payments vehicle … Read More

Retailers need real data security to combat wave of cyberattacks

CUNANews

With data breaches continuing to happen left and right, we need a bill that would establish a national data security standard. Thankfully, that’s exactly what Reps. Randy Neugebauer (R-Texas) and John Carney’s (D-Del.) legislation, the House Data Security Act of 2015, would do. H.R. 2205 would require all entities that deal with consumers’ personal information to develop and maintain an … Read More

Maine Senators: Massive Data Breach Highlights Cyber-Security Weaknesses

CUNANews

WASHINGTON – Maine’s two U.S. senators are calling for strong cyber-security legislation in the wake of the latest data breach affecting at least four million federal workers. But at least one Internet technology expert says that, even if lawmakers decide to take action, preventing a cyber attack is easier said than done. Republican Sen. Susan Collins and independent Sen. Angus … Read More

Letter to Congress Re: the Data Security Act of 2015

CUNANews

The Data Security Act of 2015 (H.R. 2205 and S. 961, introduced by Financial Institutions Subcommittee Chairman Randy Neugebauer (R-TX) and Representative John Carney (D-DE), and Senators Tom Carper (D-DE) and Roy Blunt (R-MO), respectively) would ensure that all entities that handle sensitive financial and personal information have common-sense safeguards and processes in place to protect data and provide notice … Read More