ETA Signs Joint Trade Letter to the New York Department of Financial Services on Cybersecurity Requirements for Financial Services Companies

November 14, 2016

The Business Council of New York State, the Electronic Transactions Association (ETA), the Property Casualty Insurers Association of America (PCI), and the U.S. Chamber of Commerce, which represent nearly every sector of the U.S. economy, welcome the opportunity to respond to the New York State Department of Financial Services’ (the DFS’) proposed Cybersecurity Requirements for Financial Services Companies (the Proposal).

Cybersecurity is a leading priority for the U.S. business community, from automobile companies to water utilities. Financial services firms, in particular, expend significant resources annually to safeguard consumer data, protect against cybercrime, and enhance the resilience of their infrastructure. Businesses work diligently to stay a step ahead of illicit actors by employing sound risk-management principles. Over the past several years, the business community has worked constructively with the Obama administration, Congress, and other stakeholders on cybersecurity initiatives that offer positive and cooperative solutions to increasing the safety and soundness of U.S. institutions.

Please follow this link to view the full joint trade letter.