Cyber Incident Reporting Modernization Included in Omnibus, Will Help Strengthen U.S. Cybersecurity

Washington, D.C. — Today the U.S. House of Representatives is set to vote on the 2022 omnibus appropriations package, which includes additional requirements for critical infrastructure companies to report cyber incidents to the government. BPI President and CEO Greg Baer issued the following statement in response:

The legislation being considered today by the House will strengthen U.S. cybersecurity by clearly defining how the private sector and its government partners should share information following a cyber incident. Importantly, it also helps bring other critical infrastructure sectors in line with many of the same best practices and standards applied to banks for over twenty years. Increased information sharing will better protect our economy and critical infrastructure by enabling front-line cyber defenders to prevent and deter threats from nation-states and organized crime. BPI appreciates the thoughtful and open discussions with Congress on this important national security issue and strongly supports the inclusion of these provisions championed by Reps. Yvette Clarke, Andrew Garbarino, John Katko and Bennie Thompson, and Sens. Gary Peters and Rob Portman. We encourage both the House and Senate to promptly forward this legislation to the President’s desk to be signed into law.

BPI has long advocated for modernizations to existing cyber incident notification and reporting requirements, both within the banking sector and across all critical infrastructure sectors. To learn more about these efforts, please click on the links below:


About Bank Policy Institute.

The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.

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