New Hampshire CUs Kick Off 2019 Congressional Visits at GAC

Credit union professionals from throughout New Hampshire braved a chilly, breezy Tuesday morning to meet with members of their Congressional delegation at the U.S. Capitol for the New Hampshire Congressional Delegation Breakfast.

Newly-elected Congressman Chris Pappas was warmly welcomed by the group. He noted that the credit union mission of “people helping people” was very similar to his personal goal of serving the citizens of New Hampshire. As a member of House Veterans’ Affairs Committee, Pappas was appreciative of the quick response of New Hampshire credit unions to the recent government shutdown on behalf of their members. He noted that he found “a positive result from the shutdown was the bipartisan spirit” which eventually ended it.

Recognizing the impact of data security breaches on credit unions’ and their members, Pappas listened carefully as credit unions shared the ‘unintended consequences’ of the continuing string of data breaches. Reissuance of plastic cards, processing fraud claims, and reputational risk were all noted to contribute to the high cost of a data security breach. It was pointed out that stealing personal information, is quickly becoming an issue that could eventually eclipse data theft, as the information makes its way to the ‘dark web’ and into the hands of cybercriminals. Pappas remarked, “if the technology is in place to provide greater security is in place, it should be used.”

Jay Weismuller, from Senator Hassan’s office; Robert Hanson, from Senator Shaheen’s office; and Travis Krogman, from Congresswoman Kuster’s office, then joined the group for a deeper dive into the key credit union issues, including housing finance reform and data security. All agreed that data security is a high priority for each of the New Hampshire lawmakers. Krogman noted that keeping information secure is a prime focus in the House this year. The Association shared that working groups, made up of credit union professionals, were discussing the need of a national data security standards to combat the growing epidemic of data and privacy breaches.

After thanking the staffers, the Association asked them to pass along the gratitude of the credit unions for the recent support of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, which provided several pieces of regulatory relief to credit unions.