The Clearing House’s Chief Risk Officer, Russ Fitzgibbons, testified before the House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit, where he highlighted proactive measures to combat cyber threats taken by TCH and its Owner Banks, the financial services industry, and the government. Fitzgibbons commended the government for improved information sharing and overall increased operational support, but emphasized that there are many areas for further improvement, especially regarding affirmative efforts by the government to defend the private sector from cyber threats emanating from abroad. Fitzgibbons also stressed the importance and urgency of passing compressive cyber legislation.
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