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The House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade says it will hold a hearing on March 18 on a discussion draft of data security legislation released late yesterday. NAFCU will be following the hearing and is currently reviewing the discussion draft, which primarily focuses on breach notification.

Reps. Marsha Blackburn, R-Tenn., and Peter Welch, D-Vt., are the sponsors of the draft, titled "The Data Security and Breach Notification Act"; both are members of the committee.

NAFCU Vice President of Legislative Affairs Brad Thaler noted the panel's ongoing focus on the data security issue. "While we are pleased to see the continued focus on data security," he said, "we ultimately want to see a bill with strong national data security standards for retailers that holds those who fail to protect information liable for the costs associated with breaches on their end."

NAFCU continues to press Congress for action on legislation which ensures that:

• breached entities be held accountable for costs resulting from their negligence;
• consumers be notified of breaches and made aware of retailers' data security policies;
• account servicers be notified; and
• retailers be held to a strong national standard on data security.