Transaction Trends

Written by industry experts, get insights on payments like nowhere else.

ETA Submits Comment Letter to Regulators on Enhanced Cyber Risk Management Standards

2-13-2017

ETA Submits Comment Letter to Regulators on Enhanced Cyber Risk Management Standards

Today, the Electronic Transactions Association (ETA) submitted a comment letter to the Board of Governors of the Federal Reserve, the OCC, and the FDIC regarding proposed enhanced cyber risk management standards for supervised entities and their service providers.

ETA supports efforts to strengthen cybersecurity within the country’s financial system. Given that ETA is the only trade association at the intersection of payments and FinTech, our member companies uniquely understand that the protection of customer information and the security of our nation’s financial systems are vital both to our economy and national security. The payments technology industry is committed to using technology and industry-driven solutions to protect new financial products and services, including devices, cloud services, and beyond.

ETA emphasizes in its comment letter that any regulatory framework should promote innovation in the industry and avoid duplicative regulations that could stifle growth in the U.S. FinTech space.

This letter follows comments ETA submitted recently in support of the OCC’s announcement that it will consider applications for special purpose national bank charters from FinTech companies.

About ETA

The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.

News

Is the Relationship Between Financial Institutions (FIs) And Fintechs Complicated? Not Anymore.

By Sumit Arora, Senior Vice President, Enterprise Payments Strategy, Wells Fargo Building a Balance Between Competition and Collaboration There is a long history between banking and technology, dating back to around 1866 when the telegraph . . .

6-16-2022

learn more
What business wants from the 2024 federal budget

News

‘Finclusion’ Gains Global Momentum

6-1-2022

learn more
ETA CEO Jodie Kelley: Reflections on the Past Year and Looking Ahead to the Future

News

ETA CEO Jodie Kelley: Reflections on the Past Year and Looking Ahead to the Future

By Jodie L. Kelley, CEO, ETA. As I complete my first year as CEO of ETA, I am struck by what an extraordinary year it was in so many ways. As we entered 2020, I . . .

9-28-2020

learn more