via The Hill
Online attacks that steal financial information or target U.S. financial institutions are increasingly sophisticated and effective, according to a panel of federal officials testifying at a Wednesday hearing in front of the House Financial Services subcommittee on Financial Institutions.
The hearing comes as House Republicans are mulling their response to the comprehensive cybersecurity proposal unveiled by the White House in May. Senate Democrats have been hammering out the details of their own proposal in recent months, after settling a standoff over jurisdiction earlier this year.
Both parties have framed cybersecurity as critical to both national security and the economy, making it likely that some sort of package will reach the floor in both chambers this fall.