ABA, the Financial Services Roundtable and SIFMA sent a joint letter to Senate leaders today urging passage of the Cybersecurity Information Sharing Act and defeat of any amendments that would undermine the legislation’s goals. The groups specifically flagged as problematic amendments that would remove protections from public disclosure for information shared under CISA, create ambiguities
An overwhelming majority — 94 percent — of consumers think retailers should take steps to better protect consumer data from hackers, according to an Ipsos Public Affairs survey conducted for ABA. Seventy percent say retailers should be installing EMV chip-enabled card readers as soon as possible. Nearly 80 percent of consumers think the government should
ABA and a broad coalition of financial services trade groups wrote to the Senate on Friday to urge action on the bipartisan Cybersecurity Information Sharing Act (S. 754), which cleared the Senate Intelligence Committee nearly unanimously earlier this year but has since been stalled. “CISA would enhance our ability to protect the sensitive data of
ABA and other groups representing banks and credit unions in a letter Friday pushed back against retailer claims about the need for PINs to accompany new EMV, or “chip” cards. The letter was sent in response to questions raised at an Oct. 7 Small Business Committee hearing on EMV and in anticipation of the panel’s
Frank Keating discusses top banking issues—from regulatory relief and cybersecurity to de novos and the future of the mutual charter—with Comptroller of the Currency Thomas Curry.
Bankers are committed to helping small business partners as the payment industry leads the ongoing transition to chip-based EMV card technology, ABA said in a statement for the record for a House Small Business Committee hearing.
Maintaining effective information security programs — and overseeing cybersecurity at supervised institutions, in the case of the Fed — remain top management challenges for the Consumer Financial Protection Bureau and the Federal Reserve Board, according to reports released today by the agencies’ inspector general.
As the EMV card fraud liability shift took place on Oct. 1, ABA President and CEO Frank Keating pointed out in a Huffington Post op-ed that the chip in the new cards is a big advance in protecting customers’ data.
As part of its continuing effort to help banks communicate with customers and media outlets about the Oct. 1 EMV liability shift and the ongoing movement to chip cards, ABA has released a members-only backgrounder on chip cards.
Responding in The Hill to claims by a retailer trade group, ABA SVP Doug Johnson made the case today that the chip in new EMV cards is the key to securing card transaction — not the PIN, as retailers have argued.