The Michigan Credit Union League has asked the Consumer Financial Protection Bureau to consider regulating retail firms that have been victims of card data breaches and also offer store branded credit or debit cards.

“Consumers would certainly benefit from the regulation of a retail industry that, at the moment, relies on largely self-policing standards that are inadequate to the point of consumer deception, as illustrated by the often retroactive enforcement and revocation of certification with their tenets,” MCUL CEO David Adams wrote to CFPB Director Richard Cordray in a Feb. 7 letter.

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