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Biz groups join forces to improve cyber security

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By Judy Greenwald, Crain News Service

ARLINGTON, Va. (Feb. 19, 2014) — Several trade organizations representing the merchant and financial services industries have established a partnership to address cyber security issues.

The partnership, proposed by the Arlington-based Retail Industry Leaders Association and the New York-based Financial Services Roundtable, will focus on exploring increased information sharing, better card security technology and maintaining customers’ trust, according to a statement the Financial Services Roundtable issued Thursday.

“We are committed to working together to ensure customer personal and financial information is secure and protected,” said Financial Services Roundtable CEO Tim Pawlenty in the statement. The former governor of Minnesota added that “exploring avenues for increased information sharing and collaborating on innovative technologies and safeguarding data will be critical in defending against common enemies.”

Participating trade associations will form working groups in which they, member companies and other stakeholders focus on cyber issues.

Other members of the group include the American Bankers Association, the American Hotel & Lodging Association, The Clearing House Payments Co. L.L.C., the Consumer Bankers Association, the Electronic Transactions Association, the Independent Community Bankers of America, the National Restaurant Association and the National Retail Federation—all based in Washington.

The New York-based International Council of Shopping Centers, the Arlington-based Food Marketing Institute and National Grocers Association, and the Alexandria, Va.-based National Association of Convenience Stores are also members of the group.

This report appeared on the website of Crain’s Business Insurance magazine, a Chicago-based sister publication of Tire Business.

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