MCUL Encourages Grassroots Action to Support Senate Data Breach Bill

MCUL & Affiliates is partnering with CUNA on its Action Alert on Senate Bill 961, the Data Security Act.

Nationally, credit unions experienced estimated losses of $57.4 million from the Home Depot breach and $30.6 million from the Target breach. Michigan credit union losses from Target and Home Depot exceed an estimated $4.3 million. Credit unions continue to receive notifications of card breaches at merchants across the state as well as additional waves of compromised cards from the Home Depot and Target breaches.

CUNA News Now reported Senate Bill 961 would strengthen merchant data security standards to be comparable with those of credit unions and mandate a federal notification requirement for merchants when they occur.

Michigan credit unions are encouraged to join MCUL in reaching out to Michigan Sens. Debbie Stabenow and Gary Peters to urge their support of Senate Bill 961.

MCUL recently joined CUNA as a plaintiff in a lawsuit against Home Depot for its September 2014 data breach. Click here to read the Monitor story.

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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