Credit Union Official Warns About Personal Information Breaches

A Vice President with First Education Federal Credit Union in Cheyenne says merchants aren't legally required to protect your personal financial information.

Ann Lucas says that while banks and credit unions are required by law to keep sophisticated systems in place to prevent people from getting account information and other financial data, that isn't true of private businesses.

She says that if you apply for a credit card with a merchant, for example,  they may not have adequate security in place to keep identity thieves from stealing your information. She notes there have been numerous reports recently of national companies having personal financial information stolen.

Lucas says that's just one more reason why you should be careful about giving out sensitive financial information such as bank account or Social Security numbers, even if you are asked to provide it.