Search
 

Air Academy FCU’s Strebe Urges Changes In Cyber Security Laws

CEO says CU pays $300,000 yearly to keep member data safe.

By Claude R. Marx | Updated on December 01, 2011

Credit unions already have a great deal of requirements to comply with to protect data security and any additional laws should focus on regulating those entities that aren’t regulated. That’s the message Air Academy FCU Glenn Strebe gave during testimony before a House subcommittee today.

“The best way to move forward and address data breaches is to create a comprehensive regulatory scheme for those industries that are not already subject to oversight. At the same time, the oversight of credit unions, banks and other financial institutions is best left to the functional financial institution regulators that have experience in this field. By and large, financial institutions, especially credit unions, have not been the source of significant data breaches,’’ he told the House Small Business Committee’s Subcommittee on Healthcare and Technology.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.