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Data Breach

Equifax Breach

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ICBA Sues Equifax

On November 27, 2017, ICBA filed a lawsuit on behalf of all community bankers against Equifax Inc. following its recent breach of 145.5 million consumer records and 209,000 payment cards. Read more below.

  
  

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ICBA Urges Congress to Require Breached Entities to Bear Liability

Nov 02, 2017
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ICBA called on Congress to strengthen data security by requiring entities that incur data breaches to bear the liability for their cost. In a statement for a House Subcommittee on Financial Institutions and Consumer Credit hearing, ICBA said banks take various steps to protect their customers’ accounts following a breach—but these costs should be borne by the entity that incurs the breach.

“This is not only a matter of fairness; a liability shift is needed to properly align incentives for entities that store consumer financial and personally identifiable data to strengthen their data security,” ICBA wrote.

In the statement and in a separate joint letter to subcommittee Chairman Blaine Luetkemeyer (R-Mo.) and Ranking Member Lacy Clay (D-Mo.), ICBA also advocated examination and supervision of credit reporting agencies, a national data security breach and notification standard, and other reforms.

Read ICBA Statement >

Read Joint Letter >

Other Breach Documents and Resources

Articles & Press Releases

ICBA Urges Congress to Require Breached Entities to Bear Liability

Nov 02, 2017
,
,
ICBA called on Congress to strengthen data security by requiring entities that incur data breaches to bear the liability for their cost. In a statement for a House Subcommittee on Financial Institutions and Consumer Credit hearing, ICBA said banks take various steps to protect their customers’ accounts following a breach—but these costs should be borne by the entity that incurs the breach.

“This is not only a matter of fairness; a liability shift is needed to properly align incentives for entities that store consumer financial and personally identifiable data to strengthen their data security,” ICBA wrote.

In the statement and in a separate joint letter to subcommittee Chairman Blaine Luetkemeyer (R-Mo.) and Ranking Member Lacy Clay (D-Mo.), ICBA also advocated examination and supervision of credit reporting agencies, a national data security breach and notification standard, and other reforms.

Read ICBA Statement >

Read Joint Letter >

Click Topic Below to Expand the List of Resources


ICBA & FS-ISAC Fraud Mitigation Post-Data Breach Webinar Materials