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Credit Unions, Retailers Trade Charges Over Data Breach Legislation

The fight continues to create a national data security standard for CUs, banks and retailers.

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Data Security for Consumers. Retailers and Financial Institutions.

As House Financial Services Committee members circulate a draft of data security legislation, the nation’s retailers and financial institutions—including credit union trade groups—are trading accusations that stalled legislation in the past.

Two members of the House Financial Services Committee—one Republican and one Democrat—are circulating draft legislation that would set a national data security standard and require prompt notification when a data breach occurs.

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