Sometimes, the US federal government moves as fast as a napping snail on certain items. Other times, it happens to run at a proper pace. In the instance of consumer data security, it should be running more like the Road Runner on Red Bull. In other words, establishing a technology standard to ensure our data (especially financial) is protected by FIs and retailers can’t happen soon enough, which brings us to the Data Security Act of 2015.
To get the current status of this legislation, we invited National Association of Federal Credit Unions (NAFCU) senior vice president of government affairs and general counsel Carrie Hunt on this episode of CUbroadcast. Carrie fills us in on the significance of the Data Security Act, why it’s overdue, and when it will become a reality for all of us. In addition, she explains how credit unions and the industry can keep pace with the changing technology to quell fraud, along with how flexible laws can reflect those future changes. Check it out and let us know what you’re doing to keep fraudsters at bay.
– This video podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the show itself is always unchanged. You can find the original post here. Image: Freepik & Perspecsys