Advocacy Policy Committee examines new data privacy bills

Data privacy was the focus for the America’s Credit Unions Advocacy Policy Committee’s latest meeting Thursday.  The advocacy team and member credit unions closely examined the data privacy bills released Wednesday in a joint effort with members of both the House Financial Services Committee and Energy and Commerce Committee introducing the legislation.  

The GUARD Financial Data Act and SECURE Data Act would create a new data privacy framework, including for non-financial institutions. They contain many principles that credit unions have advocated for, and some areas that could be improved.

America’s Credit Unions advocacy leaders shared information on the differences between the introduced bills and earlier discussion drafts, and committee members shared feedback, especially on provisions that would help keep member information secure.

Moving forward the group will continue to discuss efforts on the GUARD Financial Data Act and SECURE Data Act, as well as ways to advance additional credit union priorities.