U.S. Senator Cynthia Lummis(R-WY), along with Senators Jon Ossoff (D-GA) and Mark Warner (D-VA), introduced bipartisan legislation this week aimed at protecting credit union members from cybersecurity threats that could jeopardize their identities, privacy and security. Lummis said that many people in Wyoming choose to keep their money or get a loan at their local credit union, and unfortunately, their sensitive information is all too often targeted by cyber hackers.
The bipartisan Improving Cybersecurity of Credit Unions Act will assist Wyoming credit unions in developing more advanced cyber infrastructure by empowering the National Credit Union Administration (NCUA) to assess cybersecurity risks posed by service providers and take action to protect Wyoming’s 325,398 credit union members. The bill also restores previous NCUA authority to examine credit union service providers and mirrors the provisions of the Bank Service Company Act.
More Like this
Last modified: August 4, 2022