In Response to Mounting Evidence of Data Breach Risk, EPIC Urges Congress to Act

EPIC Executive Director Marc Rotenberg testified before the Senate Banking Committee, urging lawmakers to apply breach notification regulations to financial institutions and promote authentication techniques that reduce risks to consumers. EPIC observed that "current laws do not adequately protect consumers," and highlighted a series of recent high profile data breaches in the financial sector. The hearing, "Cybersecurity and Data Protection in the Financial Sector" follows May 2011 data breaches at Citigroup and Bank of America. The breaches exposed sensitive financial data linked to hundreds of thousands of consumers; individuals lost millions of dollars from their accounts. EPIC previously testified before the House concerning data breach legislation.

Please see EPIC's Testimony and Statement for The Record below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Consumer Protection Updates, Finance & Banking Updates, Privacy Updates, Science, Computers & Technology Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Electronic Privacy Information Center | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »