On Thursday May 12, 2016, the Congressional Subcommittee on Science, Space and Technology held a special hearing in Room 2318 of the Rayburn House Office Building. The hearing addressed if Americans can trust their private banking information is secure by relying on the Federal Deposit Insurance Corporation (FDIC).
During the session, lawmakers stated that the FDIC has a long history of cyber-security incidents and that it is failing to safeguard private banking information of millions of Americans who rely on the FDIC.
In the last seven months alone, seven departing employees at the FDIC have left with personal banking information on thumb drives and other removable media.
While Lawrence Gross Jr., the FDIC’s CIO told lawmakers that the FDIC considered the data breaches as “inadvertent” copying of personal banking information that happened when departing employees were copying personal information to removable media, some of lawmakers called taking something that does not belong to employees as “theft”.