ETA Submits Response to Senate Banking Committee’s Request for Feedback on Data Privacy, Protection, and Collection

Dear Chairman Crapo and Ranking Member Brown:

On behalf of the Electronic Transactions Association (“ETA”), we appreciate the opportunity to share our
thoughts on the collection, use and protection of sensitive information by financial regulators and private
companies.

ETA is the leading trade association for the payments industry, representing over 500 payments and
FinTech companies that offer electronic transaction processing products and services and commercial loans,
primarily to small businesses. During 2018 in North America lone, ETA members processed over $7 trillion
in consumer purchases. ETA’s members include financial institutions, payment processors, FinTechs, and
all other parts of the payments ecosystem.

ETA and its members support U.S. and international efforts to strengthen privacy laws in ways that help
industry combat fraud and help consumers understand how their data is being used. As lawmakers and
regulators explore additional ways to protect consumers, it is critical that government coordinate with the
payments industry to combat fraud and cybercrime so that all consumers have access to safe, convenient,
and affordable payment options and other financial services.

Read ETA’s full response here.