Data Security Bill Signed into Law in Minnesota; Texas Bill Stalled
ST. PAUL, Minn., and AUSTIN, Texas -- Credit union backed data security legislation was signed into law in Minnesota as a similar bill withered on the vine in Texas.
Minnesota Governor Tim Pawlenty (R) signed the Plastic Card Security Act (H.F. 1758/S.F. 1574) into law, making Minnesota the first state in the nation to pass legislation that shifts the costs associated with data security breaches from financial institutions to the retailers who are not appropriately safeguarding the data. The measure overwhelmingly passed both houses of the state legislature.