WASHINGTON — Legislation backed by the financial services industry that could potentially name the source of data security breaches and require reimbursement by retailers where the breaches occurred is stalled.
"At the Fed level, data security is still at several committees. They have not broken the jurisdictional logjam that they'd hoped to," CUNA Lobbyist John Magill said. According to Magill, House Financial Services Committee Chairman Barney Frank (D-Mass.) wanted to convene a small group of the legislators involved to agree on principles in common "but that was unsuccessful as I understand it," Magill explained. "[House Energy & Commerce Committee Chairman John] Dingell (D-Mich.) decided he was going to go his own way."
He added, "To my understanding, it's still in bits and pieces out there. I won't say it's on the back burner, but it's certainly not on the front burner in terms of moving a single piece of legislation."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
