Senators Eye Legislative Action for Data Breaches

Top Senators on the Senate Banking Committee have asked stakeholders to provide information on breaches so they can consider legislative action; “Given the exponential growth and use of data, and corresponding data breaches, it is worth examining how the Fair Credit Reporting Act should work in a digital economy,” Chairman Mike Crapo, R-Idaho said in a press release according to American Banker; the senators are also going to look at how companies, in particular private companies, disclose breaches; there has been a significant number of breaches in recent years that has exposed data for hundreds of millions of people. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.