This week, U.S. Sens. Mark R. Warner (D-VA), Jon Ossoff (D-GA), and Cynthia Lummis (R-WY) introduced the bipartisan Improving Cybersecurity of Credit Unions Act to protect credit union members from cybersecurity threats that could jeopardize their identities, privacy, and security.
The bill will empower the National Credit Union Administration (NCUA) to assess cybersecurity risks posed by service providers and take action to protect credit union members.
The bill also restores previous NCUA authority to examine credit union service providers and mirrors the provisions of the Bank Service Company Act.
According to the NCUA, Georgia has roughly 2.25 million credit union members statewide.
"Credit unions serve communities all across Virginia," said Sen. Warner. "I'm proud to join Senator Ossoff and Senator Lummis in offering this bipartisan proposal to improve cybersecurity for credit union customers."
"Georgians should not have to fear that their identity or data could be stolen by hackers who target their bank or credit union," Sen. Ossoff said. "This bipartisan bill will strengthen protections against hacking and identity theft. I thank Senators Lummis and Warner for joining me in this bipartisan effort."
"Many people in Wyoming choose to keep their money or get a loan at their local credit union, and unfortunately, all too often, their sensitive information is targeted by cyber hackers," said Sen. Lummis. "I'm proud to join my colleagues, Senators Ossoff and Warner, in introducing the Improving Cybersecurity of Credit Unions Act to help safeguard data at credit unions."
Full text of the legislation is available here.