09.06.25

Banks Warn of Risks as Cyber Law Nears Expiration

by: Carter Pape

With the Cybersecurity Information Sharing Act of 2015 (CISA) set to expire on Sept. 30, a coalition of 13 trade associations, including the American Bankers Association, Bank Policy Institute and Independent Community Bankers of America, is urging Congress to renew it, warning of risks to U.S. financial security. The law created a voluntary framework for companies to share cyber threat data with each other and the government, backed by liability and antitrust protections. Industry leaders say losing these safeguards would deter information sharing and embolden attackers. While some critics argue the program needs updates, most call for a swift reauthorization to avoid security gaps. Bills in both the House and Senate propose extending CISA through 2035.

Read the full article on American Banker