How Data Breach Legislation Will Affect Financial Institutions

How Data Breach Legislation Will Affect Financial Institutions

Recent high-profile breaches at nationwide retail, healthcare, entertainment, public sector and financial service organizations has brought heightened attention from lawmakers in Congress and the Obama Administration. This growing focus on cybersecurity and data breaches, coupled with a growing sense of bipartisanship on the issue, have led some to speculate that Congress could finally pass a national data breach and data security standard to replace the current patchwork of state laws.

However, obstacles remain that may make consensus just beyond the grasp of policymakers:

  • Will Congress pass data breach legislation in 2015/2016?
  • Government Focus on Cybersecurity Elevates Data Breach Legislation
  • Data breach notification that could impact businesses that engage in global commerce

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