Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Initial results expected this week from Target breach survey
WASHINGTON (1/21/14)--Preliminary results from the Credit Union National Association's survey on the impact of the massive Target data breach on credit unions are expected to be released this week.

CUNA has asked credit unions to outline the costs and burdens created by the Target data breach, which resulted in the theft of 40 million debit and credit cards, and encrypted PIN data, and the names, mail and email addresses, and phone numbers of up to 70 million individuals.

Target has admitted responsibility in the breach. Neimann-Marcus has also had data security issues lately, and six other merchants have reportedly been affected by the same hackers that caused the Target breach. (See News Now story: Target-like attack hitting 6 more retailers.)

CUNA has been collecting data from credit unions to inform communications with lawmakers, regulators, the media and others. There is no deadline for credit unions to respond to the survey, and credit unions that have not yet responded are encouraged to do so.  CUNA will update the survey results in a few weeks.

Members of the U.S. Congress are looking into the data breach issue and considering holding hearings. Bills that would establish consumer data security standards for companies and require them to notify consumers when a data breach has occurred have also been released. (See Jan. 16 News Now story: Carper, Blunt bills would address data security concerns)


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
10 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
11 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
11 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
12 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
13 hours ago