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ABA: The American Bankers Association
Compliance News

Associations Comment on the Proposed Privacy Framework

The Bank Policy Institute through its technology policy division known as BITS, the American Bankers Association, and the Securities Industry and Financial Markets Association filed joint comments to the National Institute of Standards and Technology (NIST) on its "Request for Information on Developing a Privacy Framework: An Enterprise Risk Management Tool" (RFI). In the letter, we point out the numerous privacy laws that apply to the financial sector and suggest it would be helpful to use the same collaborative effort that NIST has used on cybersecurity. We also encourage harmonization with international standards and standard definitions across the board.