Trade groups from finance, retail sectors team for security initiative

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A number of major trade associations representing the finance and retail industries have teamed up for a new cyber security partnership.

The American Bankers Association (ABA), the Financial Services Roundtable (FSR), the National Retail Federation (NRF) and the Retail Industry Leaders Association (RILA) are among the associations joining the partnership, which announced on Thursday.

The effort was launched so that the groups could explore options for improved information sharing and implementation of card security technology, as well as better maintaining customer trust, a release said.

The associations will form working groups consisting of organizational staff, member companies and stakeholders.

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