Senate Banking Committee Focuses on Cyber Security in Johnson's Last Hearing
December 10, 2014 – The National Association of State Credit Union Supervisors was present for the Senate Committee on Banking, Housing and Urban Affairs' oversight hearing today on Capitol Hill, during which cyber security was the topic of discussion.
The hearing, “Cybersecurity: Enhancing Coordination to Protect the Financial Sector,” which was Committee Chairman Tim Johnson's (D-S.D.) last, came nearly one month after the conclusion of the inaugural Credit Union Cyber Security Symposium, hosted by NASCUS in partnership with Credit Union National Association.
“Security experts have told financial institutions to assume they’ll be targeted at some point by hackers,” said NASCUS President and CEO Lucy Ito. “The credit union system should prepare for these cyber-attacks, and understand as much as they can about how cybercriminals can break into their systems in order to be better prepared and able to prevent potential breaches.”
Witnesses at the hearing included Brian Peretti, Director for the Office of Critical Infrastructure Protection and Compliance Policy, U.S. Department of the Treasury; Phyllis Schneck, Deputy Under Secretary for Cybersecurity and Communications, National Protection and Programs Directorate, U.S. Department of Homeland Security; Valerie Abend, Senior Critical Infrastructure Officer, Office of the Comptroller of the Currency; William Noonan, Deputy Special Agent in Charge of Cyber Operations, U.S. Secret Service; and Joseph M. Demarest Jr., Assistant Director, Cyber Division, Federal Bureau of Investigation.