Data Security in the Modern World-FSOC article (link)

FSOC: Data Security in the Modern World-

WASHINGTON – The Subcommittee on Financial Institutions and Consumer Credit held a hearing today to examine the current data security and breach notification regulatory regime, and identify potential opportunities to reform the current framework in order to reduce vulnerabilities and shortcomings in the system and better protect consumers.

As reliance on technology increases, so do data breaches and increased risk to consumers and businesses in all sectors of the economy. Due in part to a patchwork of conflicting state laws, data security and breach notification standards have long been a subject of considerable debate.

 

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