WASHINGTON, D.C. — Stakeholders and organizations across the financial services sector are calling for the urgent passage of bipartisan legislation introduced by U.S. Senators Gary Peters (D-MI), Ranking Member of the Homeland Security and Governmental Affairs Committee, and Mike Rounds (R-SD) that would renew critical cybersecurity provisions that expired on September 30, 2025. The Protecting America from Cyber Threats Act would reauthorize a bipartisan law that has been in place for ten years that enables private companies to voluntarily share cybersecurity threat indicators – such as malware signatures, software vulnerabilities, and malicious IP addresses – with the Department of Homeland Security (DHS). This collaboration has helped prevent data breaches, protected personal information, and strengthened the federal government’s ability to respond to cyberattacks from foreign adversaries and criminal networks.
The bipartisan bill is supported by organizations across the financial services sector including the Securities Industry and Financial Markets Association, American Bankers Association, American Property Casualty Insurance Association, American Fintech Council, Independent Community Bankers of America, Marsh, Bank Policy Institute, Electronic Transactions Association. To see the full list of stakeholders who support extending cyber threat information authorities, click here. Below are statements in support of the legislation:
“SIFMA remains committed to strengthening the cybersecurity of our nation’s critical infrastructure,” said Kenneth E. Bentsen, Jr., President and CEO, Securities Industry and Financial Markets Association. “The protections given, under now-expired threat sharing legislation, are a vital tool in building the trust, structure, and legal certainty needed for effective, real-time collaboration between the private sector and government. We thank U.S. Senators Gary Peters (D-MI) and Mike Rounds (R-SD) for introducing the Protecting America from Cyber Threats Act, which would reauthorize these crucial cybersecurity protections for another 10 years, strengthening our nation’s ability to respond to cyberattacks.”
“For the past decade, our nation’s cybersecurity sharing framework has been a cornerstone of collective defense against increasingly sophisticated cyber threats,” said Rob Nichols, President and CEO, American Bankers Association. “The bipartisan legislation introduced by Senators Rounds and Peters appropriately underscores the urgency of extending these critical protections, while preserving the legal certainty and privacy safeguards that enable cyber teams to share actionable threat indicators between the public and private sectors with confidence and speed. The information exchanges this legislation facilitates will significantly enhance the financial sector’s ability to respond to large-scale cyber incidents, strengthen our defenses, and safeguard customer data. Allowing these protections to lapse chills threat sharing and impedes rapid response, leaving banks, customers, and the broader economy more vulnerable to adversaries. We commend Senators Rounds and Peters for their leadership and urge Congress to act swiftly to restore and extend these vital cybersecurity authorities.”
“APCIA commends Senator Peters and Senator Rounds for their leadership and urges Congress to pass S.2983, the Protecting America from Cyber Threats Act,” said Sam Whitfield, Senior Vice President, Federal Government Relations and Political Engagement, American Property Casualty Insurance Association. “This law includes important antitrust, liability, and disclosure protections for private sector entities who voluntarily share cybersecurity information with the federal government, and the lapse of these authorities has created uncertainty. Without congressional action, cybersecurity will be negatively impacted as entities remain less willing to share threat information with the federal government and each other.”
“ICBA and the nation’s community banks thank Senators Peters and Rounds for introducing the bipartisan Protecting America from Cyber Threats Act to preserve public-private sector coordination and ensure the nation’s cyber defenses remain strong,” said Rebeca Romero Rainey, President and CEO, Independent Community Bankers of America. “Reauthorizing these crucial cybersecurity threat sharing protections will promote information sharing to ensure U.S. critical infrastructure maintains timely access to actionable cyber threat information.”
“Marsh supports policies that strengthen our nation’s ability to prevent and respond to cyber threats,” said Thomas Reagan, Global Cyber Practice Leader, Marsh. “The Protecting America from Cyber Threats Act is intended to promote timely and responsible information sharing between the public and private sectors to enhance our collective cybersecurity strategy. As cyber threats from adversaries and criminals grow in sophistication, reinstating liability protections that encourage information sharing is critical. These protections may advance public private collaboration, which remains an essential component to enhancing cybersecurity strategies and sustaining a unified cyber defense.”
“We strongly support Senators Peters and Rounds’ efforts to pass S.2983, the Protecting America from Cyber Threats Act,” said Heather Hogsett, Executive Vice President and Head of BITS, Bank Policy Institute. “This Act would reauthorize critical protections which made the banking system safer for over a decade by enabling banks to securely share intelligence about cyber threats with government agencies and other critical infrastructure sectors. Reauthorizing these protections is a national cybersecurity imperative, and we’re grateful for the Senators’ leadership to keep these commonsense safeguards in place.”
“With the expiration of crucial cybersecurity information sharing authorities on September 30, the payments industry has lost critical visibility into emerging and on-going cyber threats,” said Scott Talbott, EVP, Electronic Transactions Association. “As cyber attacks grow more sophisticated, this lapse leaves financial institutions, consumers, and the broader economy vulnerable. The sharing of real-time threat intelligence is essential for a sector that processes trillions in transactions. ETA commends Senators Gary Peters (D-MI) and Mike Rounds (R-SD) for introducing S. 2983, the Protecting America from Cyber Threats Act, and urges Congress to quickly reauthorize this critical cyber authority with retroactive effect.”
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