Search
 

CU Tech Hub

Banks, CUs Battle Retailers Over Proposal to Disclose Consumer Hacks

Pressure mounts after Equifax belatedly notifies additional consumers their identities had been stolen.

By Naomi Nix | Updated on March 07, 2018
Coaxial cables connect to a computer server. Photographer: Chris Ratcliffe/Bloomberg

American banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they’ve experienced a data breach.

Equifax Inc. said last week that it would notify an additional 2.4 million consumers who were hacked during its massive data breach in 2017 — but a draft of a House bill with bipartisan support would exempt the credit-reporting agency from the new requirements.

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

© 2025 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 © 2025 ALM Global, LLC. All Rights Reserved.