Financial Industry Backs House Cybersecurity Bill

Law360, New York (June 1, 2012, 6:46 PM EDT) -- The financial services industry on Friday threw its support behind a controversial U.S. House of Representatives bill that backers say would encourage the government and private companies to share information on cyberthreats, including the sharing of private customer identification.

Paul Smocer, the president of BITS, the Financial Services Roundtable's technology policy division, told a subcommittee of the House Financial Services Committee that the Cyber Intelligence Sharing and Protection Act was needed in order to prevent massive computer attacks that could bring down the global financial system,...
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