After much encouragement from the ATPC and industry, the ATPC applauded the passage of the Cybersecurity Information Sharing Act (CISA – S. 754) by the Senate, and its inclusion in the FY 2016 Omnibus Appropriations Act, which passed both chambers of Congress and was signed by President Barack Obama.
The included language authorizes companies to voluntarily share cyber data, addresses existing systemic vulnerabilities, and provides liability protections while maintaining merchant and consumer privacy and civil liberties.
“Passage of this vital bill signals Congress’ and the administration’s clear intent to cement a sound cybersecurity framework for the benefit of our economy, and companies and the 34 merchants and consumers they serve,” said ATPC Executive Director H. West Richards. “We witnessed an understanding of the measure’s importance during visits with officials at the National Cybersecurity and Communications Integration Center during our November Capitol Hill fly-in, and in countless meetings on Capitol Hill as CISA and similar measures were debated the past few years, and today’s actions reinforce that perspective with Congressional commitment that ensures our country and our industry stand in a better, more-secure place today.”
ATPC actively encouraged cybersecurity legislation on Capitol Hill throughout the Congressional session, particularly amongst the House and Senate Payments Caucuses and Homeland Security committees. In May, the ATPC called on the U.S. Senate to get CISA to the floor after the House of Representatives passed the Protecting Cyber Networks Act and National Cybersecurity Advancement Act of 2015. These measures are significant to the FinTech and payments processing companies the ATPC represents, located in “Transaction
Alley” – where more than 75 companies are headquartered in and around metro Atlanta.
President Obama reiterated his support for the bill, and signed the measure at the applause of Transaction Alley companies and the more than 40,000 people they employ in Georgia, and the 105,000 around the world.