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About one in three Americans has now been affected by the Target data breach. Will this massive security incident interrupt the inertia that has held card security in a holding pattern for the past decade?
January 14
WASHINGTON Sens. Tom Carper, D-Del., and Roy Blunt, R-Mo., reintroduced legislation Wednesday that would require banks, retailers and government agencies to protect sensitive consumer information more effectively and quickly notify customers in the event of a data breach.
The Data Security Act would set national standards for securing consumer data and sharing information with those who are affected by a breach. The proposed bill comes on the heels of several recent breaches at high profile retailers, including an attack at Target Corp. over the holidays which affected an estimated 110 million shoppers.
"As the recent incidents involving Target and Neiman Marcus remind us, major data breaches that compromise consumers' identities and financial security are becoming more routine," Carper said in a press release. "This bipartisan and comprehensive approach would better serve consumers by ensuring that businesses and government agencies take the steps necessary to secure personal and financial information and respond swiftly and effectively in the unfortunate event of a breach."
Lawmakers in both the House and Senate have said they plan to investigate further the issue of data breaches and consumer notification.
