MCUL Backs Judicial Relief in Target Breach (Press Release: December 27, 2013)
In an email sent Friday to credit union leaders throughout Michigan, MCUL & Affiliates CEO David Adams offered assurance that the league strongly supports judicial relief for the consumers and financial institutions that are affected by the Target data breach.
When Congress returns in January, MCUL will aggressively communicate this position to the Michigan congressional delegation. MCUL will also support congressional action that would hold all retailers financially liable for such future data breaches. The league will work with the CUNA to seek these judicial and legislative remedies.
In January, credit unions should expect to see a survey, likely sent in conjunction with MCUL and CUNA, to collect data and information to support legislative action. In the meantime, CUNA urges credit unions to begin keeping a tally of the costs incurred from fraud and replacement of credit and debit cards that were compromised in the data breach.
CUs Should Monitor Target Data Breach Carefully
CUNA urges CUs to Collect Data