Financial Industry Urges Senate to Protect Consumers, Not Delay Cybersecurity Bill

Release Date: June 11, 2015
Contact: For SIFMA: Liz Pierce, 212-313-1173, [email protected]
For FSR: Erika Reynoso, 202-589-2410, [email protected]
For ABA: Jeff Sigmund, 202-663-5439; [email protected]  

Financial Industry Urges Senate to Protect Consumers, Not Delay Cybersecurity Bill
Industry expresses disappointment in today’s vote, urges protections to mitigate cyber attacks against businesses, American consumers

Washington, DC, June 11, 2015 – Following today’s cloture vote on the CISA Bill, The Financial Services Roundtable (FSR), American Bankers Association (ABA) and Securities Industry and Financial Markets Association (SIFMA) strongly urge Senate lawmakers to immediately proceed to consideration of the Cybersecurity Information Sharing Act (CISA) so that financial firms and other sectors can better protect American consumers and businesses by sharing critical information about cyber attacks with each other, the government, law enforcement and other institutions.
CISA would increase and encourage cyber threat information sharing among businesses, the government and law enforcement, helping financial institutions and other sectors mitigate cyber attacks and protect consumers.

“Cyber criminals are highly coordinated, skilled and are looking to steal and destroy data at network speed. This is no time for Congress to delay while customers are being targeted by cyber attacks every moment of every day,” said FSR, ABA and SIFMA in a joint statement. “While we’re disappointed in today’s vote, we’re encouraged that Senators on both sides of the aisle are continuing to explore next opportunities to address this critical issue. We applaud the increased focus by Congress and the White House and urge the Senate to move swiftly to pass this vital measure.”
The financial services industry has made the passage of cybersecurity information sharing legislation a key priority and remains committed to working with members of Congress to enact strong information sharing legislation into law.