Every member of Allegacy is an owner, with a stake in our shared success. When laws are proposed that could impact the services, products and benefits that we enjoy together at Allegacy, we want you to know about it and take action. Let our state and local representatives hear from you when they’re making decisions that affect credit unions.
Stop the Data Breaches
Data breaches are a big problem. Although financial institutions (like credit unions) have to comply with federal standards for data protection, merchants aren’t subject to the same rules. As a result, some merchants fail to invest in data security like they should, making it easier for hackers to steal your credit card number, PIN number or other sensitive data, which they can either use fraudulently themselves, or sell to a bad actor.
When a breach occurs, merchants aren’t required to cover the costs of the fallout – everything from sending people new credit cards, to paying for the fraudulent transactions. Instead, the credit union pays, and ultimately, credit union members like you.
Tell Congress it’s time to hold merchants accountable for data breaches. Insist that merchants be required to reimburse credit unions for the costs they incur from merchant breaches, and demand that credit unions be allowed to tell members the name of the merchant that allowed the breach to occur.