Committee hearing examines FDIC data breaches

The U.S. House Committee on Science, Space and Technology Oversight Subcommittee held a hearing on Thursday to examine the alarming number of data breaches at the Federal Deposit Insurance Corporation (FDIC).

The subcommittee heard from a variety of FDIC employees, including FDIC Chief Information Officer and Chief Privacy Officer Lawrence Gross Jr., and FDIC Acting Inspector General Fred. W. Gibson regarding growing concerns about the agency’s inability to thwart incoming cyberattacks.

The FDIC has suffered multiple data breaches since 2013, all as a result of outgoing department employees copying data onto portable storage devices and taking the devices with them.

“According to the FDIC, none of the 160,000 individuals has anything to worry about because all of the FDIC employees who improperly walked out of the agency with sensitive information were required to sign affidavits stating the information was not disseminated,” Oversight Subcommittee Chairman Barry Loudermilk (R-GA) said. “At best, this is a misleading statement because apparently all employees who are separating from FDIC are generally required to sign an exit document attesting that they have not removed any FDIC materials from the premises.”

The FDIC was also discovered to have sent incomplete document productions and mischaracterized key facts, ultimately obstructing Congressional action to correct issues that arise.

Further action from the subcommittee has yet to be determined.