MCUL, CUNA Fighting for More Oversight of Retailers in Wake of Data Breach 

MCUL & Affiliates and CUNA are taking action on a variety of levels to help in the wake of data breaches at Target and other retailers.

MCUL CEO David Adams wrote a letter to CFPB Director Richard Cordray saying that the agency should consider regulating retailers because the breaches have caused substantial injury to consumers.

Click here to read the full letter.

The league also sent letters to each member of the Michigan congressional delegation saying that the data breaches illustrate how Congress’ decision to reduce interchange fees has left financial institutions, including credit unions, “holding the bag.” Click here to read the letter.

MCUL also conducted a survey of credit unions which garnered responses from 84 credit unions. More than 94 percent of respondents said that they had members who were affected by the breach. A full story on the survey can be found elsewhere in this issue of Monitor.

CUNA also has a variety of resources available to credit unions affected by the breach.

CUNA Resources

Submissions to Monitor may be emailed. Bryan Laviolette is the editor of Monitor. Contact him by email or call (800) 262-6285, ext. 233. The newsletter of the Michigan Credit Union League is published Monday mornings or Tuesday mornings when Monday is a holiday. There is no Monitor the week after Christmas and the week after the Annual Convention and Exposition. The MCUL reserves the right to edit submissions for clarity and space.
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