Senator Calls for New Cybersecurity Laws
FINANCIAL PRIVACY—U.S.June 22, 2011
At a Senate Banking Committee hearing on Tuesday, Sen. Robert Menendez (D-NJ), called for a national law requiring businesses to notify customers of a breach, PCWorld reports. "It seems to me there is a fiduciary responsibility by the (financial) entity to proactively tell their customer that has happened," he said. The hearing comes on the heels a U.S. House breach notification proposal and one EU commissioner's call for financial breach notification in the EU. Mark Rotenberg, president of EPIC, said any federal law should not preempt stronger state laws.