Breaches Build Federal Data Security Momentum
ONLINE PRIVACY—U.S.June 23, 2011
Insurance Networking News reports that recent high-profile data breaches are building momentum for a national standard for breach notification. At Tuesday's Senate Banking Committee meeting, the report notes, financial services representatives spoke in support of an Obama Administration plan to "combine a patchwork of 47 state laws on the issue into a federal standard." Senate Banking Committee Chairman Tom Johnson said, "Breaches are disruptive and raise the potential for financial fraud, identity theft and, potentially, severe threats to our national economic security."