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Industry Groups Press Congress to Extend Cybersecurity Law

"The current cyber threat landscape highlights the need for consistent public-private collaboration—of which information sharing is a central component. Without the protections codified by this statute, businesses may be less willing to share cyber threat information for fear of legal exposure."
Joint Industry Groups Letter to Congressional Leaders
"The current cyber threat landscape highlights the need for consistent public-private collaboration—of which information sharing is a central component. Without the protections codified by this statute, businesses may be less willing to share cyber threat information for fear of legal exposure."
Joint Industry Groups Letter to Congressional Leaders

Thirteen industry trade groups urged Congress to extend the Cybersecurity Information Sharing Act. The Act is set to expire on September 30, 2025.

In a joint letter to Senate and House leadership, the groups — including the American Bankers Association, Bank Policy Institute, Business Roundtable, and SIFMA — argued that the law "has been instrumental in strengthening our collective defense against increasingly sophisticated and severe cybersecurity threats."

The groups said the statute, which provides for a voluntary information sharing framework, has allowed the establishment of public-private communication channels for real-time information sharing, improved the nation’s ability to respond quickly to major cyber incidents, and enabled closer collaboration between government agencies and private firms.

The groups warned that any weakening of information exchange between the public and private sectors would hand an advantage to foreign adversaries and cybercriminals, undermining both U.S. economic stability and national security.

Primary Sources

  1. Industry Groups: Joint Letter: Urging Congress to Extend the Cybersecurity Information Sharing Act

Tags

Regulated Activities
Data Protection / Cybersecurity
Body of Law
Privacy / Data Protection / Cybersecurity
Jurisdiction
US - Federal
Organization
Trade / Industry Associations
Sub-Author
American Bankers Assoc., Bank Policy Institute, Institute of International Bankers, SIFMA