Sens. Roy Blunt (R-Mo.) and Tom Carper (D-Del.) yesterday introduced the Data Security Act (S. 961), which would require companies and agencies to better guard sensitive data, investigate breaches and notify consumers about compromised information.
Draft legislation on data security being considered by the House Energy and Commerce Committee falls short of adequate consumer protections, ABA and several other financial trade groups said in a letter yesterday.
ABA is strongly encouraging Congress to move ahead with bills that will enhance America’s cybersecurity.
President Obama today issued an executive order that authorizes the Treasury Department to impose financial sanctions on foreign cyber attackers — both individuals and corporate entities.
The banking regulators today issued warnings to financial institutions about two “increasing” cyber threats: destructive malware and cyber attacks that compromise customers’ online credentials. The statements from the Federal Financial Institutions Examination Council do not contain any new regulatory expectations, the council said.
fTLD Registry Services, the company co-founded by ABA as the exclusive operator of the new .bank domain, is reminding bankers in advance of the May 14 launch date that .bank domain names can only be registered via ICANN-accredited registrars that have been approved by fTLD.