Data Breach Bill Passes House Financial Services Committee

On Thursday, the House Financial Services Committee marked up data breach legislation, HR 6743, the Consumer Information Notification Requirement Act” that CUNA calls a “strong step in the right direction” but the bill fails to address one major credit union priority – strict data breach notification standards for retailers.

In Jim Nussle’s letter to Blaine Leutkemeyer (R – MO), who introduced the bill, he writes, “In addition to this legislation, we urge Congress to consider legislation that holds merchants to the same standards as financial institutions and gives the Federal Trade Commission and state attorneys general the authority to enforce this standard.”