Data Security Effort Fades In This Congress

Credit Union Journal, The, September, 2006

The multi-pronged effort to enact legislation addressing the growing incidents of data security breaches appears dead for this Congress. There are at least 12 bills pending in the House and Senate and little will to move any of them, let alone a compromise that might combine the bills, according to Capitol Hill sources.

There is a chance that one or more of the major initiatives could be tacked onto an unrelated bill in the final days, but there is little motivation for a comprehensive bill. Until the next time a major data breach occurs, that is. That's when lawmakers will stand up and proclaim their concern and propose new remedies. Meantime, House and Senate negotiators were preparing to put the finishing touches on a very limited regulatory relief bill for credit unions...

Read the full article with a Free Trial at MyWire.

Premium Content Partnership | MyWire provides an in-depth online archive library of reference works.