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Banking, Retail Associations Seek Legislation To Clarify Data Breach Reporting Standards

Banking, Retail Associations Seek Legislation To Clarify Data Breach Reporting Standards
iStock Cyber Lock

Following massive consumer data breaches in 2017, such as the November Equifax [EFX] hack, banking and retail associations are urging Congress to pursue legislation to standardize cyber attack response protocols. In a Thursday letter to House Energy & Commerce Committee Rep. Greg Walden (R-Ore.) and Subcommittee on Digital Commerce and Consumer Protection Chairman Bob Latta (R-Ohio), 22 trade groups called for clarification on how banks and companies holding mass quantities of personal customer data must improve disclosure of data breaches.“We support…

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