<ul><li>Four financial industry trade associations have urged federal agencies to limit data collection to only what is necessary after recent cybersecurity incidents.</li><li>The American Bankers Association, Bank Policy Institute, Managed Funds Association, and Securities Industry and Financial Markets Association recommended stricter security and data protection standards for agencies.</li><li>The groups emphasized the need for agencies to notify affected companies promptly in case of security breaches and avoid centralizing sensitive data.</li><li>The OCC faced a major security incident in April involving unauthorized access to sensitive information, while the Treasury Department's workstations were breached by China-backed hackers in December.</li></ul>

Financial Trade Associations Ask Treasury to Limit Data Collection After Cybersecurity Incidents

Discover more