Nussle highlights credit union data breach costs, regulatory relief on Bloomberg radio

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr CUNA President/CEO Jim Nussle took to the airwaves Friday to highlight the massive costs facing credit unions due to the increasing number of merchant data breaches.  Nussle also explained the consumer benefits of regulatory relief measures for credit unions and how easing regulatory burden would help credit unions serve their members even better.Nussle was interviewed by Vonnie Quinn on “Bloomberg Advantage.”The CUNA leader explained to Quinn and her national audience that merchants are the weak link when it comes to data security.He highlighted CUNA’s efforts, both in Congress and in the courts, to push for stronger merchant standards that protect consumers as well as credit unions and other financial institutions.“We’re saying that somebody has got to put the merchants into a more responsible position, they should be responsible for the data if people are coming and using their credit cards, that needs to be protected,” he said. “The same way every credit union and bank must protect the information of its customers, merchants need to do the same.” continue reading »last_img read more