Today, House Financial Services Subcommittee on Financial Institutions and Consumer Credit Chairman Blaine Luetkemeyer (MO-03) held a hearing to examine data security and breach notification regulations. Chairman Luetkemeyer released the following statement:

“Consumers must be front and center throughout the conversation surrounding data protection. Today’s hearing explored a new set of standards that will protect and empower consumers across the nation.” said Chairman Luetkemeyer. “This is a challenging issue, one that has been seriously debated in Congress for well over a decade.  How many more millions of Americans need to be the victim of financial fraud or identity theft? The time to act is now. It’s essential that industry groups look at the bigger picture here and realize the immeasurable benefits data security safeguards and a responsible notification process will have on their customers and businesses. We are facing a national problem that requires an immediate national solution, which is why my legislation, developed with my colleague from New York, Congresswoman Maloney is both timely and necessary.”

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