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FSR: Congress must enact data breach legislation

Joe Mont | February 14, 2018

The Financial Services Roundtable, a trade association for large banks, is urging the House Financial Services Committee and, more broadly,  Congress, to enact strong data security legislation to better protect consumers and ensure sensitive financial information is kept safe.

“FSR supports legislation that ensures all companies are required to protect sensitive personal and financial data with a strong but flexible, scalable data security framework,” wrote FSR’s vice president of government affairs for payments, Jason Kratovil. “No reasonable person would conclude that the status quo lack of federal requirements that all other companies should protect sensitive data and be required to notify consumers of a breach is acceptable in today’s data-intensive economy.”

Kratovil’s letter coincided with a Committee hearing on Feb. 14, “Examining the Current Data...

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