Corporate and industry leaders from the financial services, energy and technology sectors are urging Congress to reauthorize the Cybersecurity Information Sharing Act before it expires on Sept. 30.
In a letter to Congressional leaders, the coalition warned that failure to act could hurt the nation’s ability to protect its critical infrastructure sectors.
“This voluntary information-sharing framework has been instrumental in strengthening our collective defense against cybersecurity threats that continue to grow in sophistication and severity,” the letter states. “The expiration of these protections risks creating a chilling effect on this critical information exchange—leaving us all more vulnerable to nation-state attacks and cybercriminals moving forward.”
The letter was signed by leaders of the Alliance for Digital Innovation, American Bankers Association, American Public Power Association, Bank Policy Institute, Business Software Alliance, Edison Electric Institute, Independent Community Bankers of America, Information Technology Industry Council (ICI), Institute of International Bankers, National Rural Electric Cooperative Association, Operational Technology Cybersecurity Coalition, and the Securities Industry and Financial Markets Association.
The bipartisan CISA legislation was enacted in 2015 in response to the Office of Personnel Management data breach. It provides private sector entities with important information and liability protections for sharing cyber threats with CISA. It also includes an antitrust exemption that provides similar protections for sharing between private companies.