ICBA is scheduled to testify at today’s House Financial Services Subcommittee on Consumer Protection and Financial Institutions hearing on cyber and data security.

Hearing: Jeff Newgard, president and CEO of Bank of Idaho in Idaho Falls, will call on Congress to:

  • Extend Gramm-Leach-Bliley Act data security standards to all participants in the payments system.

  • Ensure regulation of core processors, fintech companies, and other third-party providers.

  • Subject credit reporting agencies to appropriate oversight.

  • Institute a national data security breach and notification standard.

  • Require the costs of data breaches to be borne by the party that incurs the breach.