The Senate on Tuesday passed the Cybersecurity Information Sharing Act (S. 754) by a vote of 74-21. The bill, which would encourage private businesses and the government to share cybersecurity threat information more quickly and efficiently, heads to the House of Representatives next.
CUNA and NAFCU, together with the Consumer Bankers Association and the Independent Community Bankers of America, penned a letter Oct. 22 to Senate Majority Leader Mitch McConnell (R-Ky.) and Minority Leader Harry Reid (D-Nev.) opposing three amendments that were defeated.
One amendment, introduced by Sen. Patrick Leahy (D-Vt.) would have permitted cyberthreat information to be made public under the Freedom of Information Act. The trades argued that information voluntarily shared with the federal government, such as sensitive details about cybersecurity programs, should remain confidential.
Another failed amendment would have placed a sunset on the legislation after six years.
"The sunset fails to take into consideration the infrastructure and resources needed to be put in place by the private sector for effective threat information sharing," the trades wrote.
In August, Sen. Elizabeth Warren (D-Mass.) submitted an amendment to CISA that would have granted the NCUA authority to regulate and examine third-party vendors who provide service to credit unions. However, that amendment was not included among those considered by the Senate.
NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt called the bill's passage a positive step forward in safeguarding the nation's cybersecurity, but added in a statement legislation that would require a national data security standard for retailers must also be advanced.
The Data Security Act of 2015 (S. 961) and its companion bill in the House (H.R. 2205) would accomplish that goal, she said.
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