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President Announces New Cybersecurity Package

Posted on 1/13/2015

President Obama yesterday unveiled a new package of proposed legislation and executive actions designed to improve U.S. cybersecurity and protect customers from data breaches.

"Our industry shares the president's commitment to protecting the security and privacy of Americans' personal information, and we appreciate the White House's engagement on this critical issue," ABA President and CEO Frank Keating said. "We fully support legislation that will help facilitate increased cyber intelligence information sharing between the private and public sectors in a manner that protects consumer privacy and allows information sharing on serious threats to our critical infrastructures."
Obama urged Congress to enact a national 30-day notification standard for when a data breach occurs. ABA has previously called for national notification requirements to be paired with a strong shared standard for how customer data is protected.

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