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Congressman Hurd Visits Credit Union Leaders in San Antonio
Wednesday, November 1, 2017 7:00 AM

Rep. Hurd with San Antonio credit unions

San Antonio credit union leaders met with U.S. Congressman Will Hurd (R-District 23) this week. The congressman updated the group on a wide array of issues, from tax reform to the risks from North Korea.

Hurd, known for his expertise on cybersecurity, talked about the impact of the Equifax data breach and the problems data breaches have had on credit unions. He noted that when credit and debit card information is stolen in these breaches, credit unions have to pay for the losses even though another business failed to protect the card data from hackers.

As a cosponsor of HR 1264, the Community Financial Institution Exemption Act, Hurd also talked about the effect of overregulation on community financial institutions. He noted it was not credit unions that caused the collapse of the financial system in 2008, yet credit unions have been subjected to CFPB's overreach through an onslaught of regulations.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.