Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Massachusetts adopts stricter consumer data rule
BOSTON (9/24/08)--Massachusetts state regulators released new rules Tuesday to make businesses better safeguard consumers’ personal information. The Massachusetts Office of Consumer Affairs and Business Regulation issued the regulations, which require companies that handle personal information--such as Social Security numbers and credit card accounts--to encrypt stored data, monitor employees’ access to the data, and take other measures to safeguard customer information. They become effective Jan. 1 (Boston.com Sept. 23). Massachusetts Gov. Duval Patrick also signed an executive order that requires state agencies to take similar precautionary measures. Consumer concern about the increasing number of data breaches containing personal information prompted the state’s action, Daniel Crane, Massachusetts undersecretary of consumer affairs and business regulation, told the paper. Hundreds of credit unions nationwide had to reissue thousands of plastic cards to members as a result of the TJX Cos. data breach, which exposed the personal information on at least 45.67 million cards. TJX operates TJ Maxx and Marshalls stores. Other data breaches this year include supermarket company Hannaford Bros., mortgage company Countrywide Financial Corp., and Bank of New York Mellon.
Other Resources

RSS print
News Now LiveWire
.@TheNCUA :Low-income CUs can expand services to members, train staff,collaborate for efficiencies w/more than $1M in grants awarded 2day
6 hours ago
.@CUNA joins 11 other financial service orgs urging @SenateFloor to take up #CISA to strengthen cybersecurity information sharing
7 hours ago
.@RedwoodCU and its staff donated a combined $5,100 toward AIDS Walk San Francisco. The CU is a longtime sponsor of the event.
7 hours ago
See the latest from @CUNA's CompBlog on Customer Due Diligence. http://t.co/rzOzDUpNMT
7 hours ago
New #FinCEN proposal would strengthen, clarify due diligence obligations for financial institutions. http://t.co/2yxVUXCrYA
7 hours ago