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Financial industry spars with retailers over data breach bill

24
May
2016
Financial industry spars with retailers over data breach bill

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The financial services industry is ratcheting up its support of legislation that would set nationwide data security standards and require businesses to notify customers following a breach.

The push coincides with an annual advocacy gathering of retailers, who oppose the bill. The National Retail Federation is hosting its annual Retail Advocates Summit in Washington, D.C., this week.The bill, from Reps. Randy Neugebauer (R-Texas) and John Carney (D-Del.), would set requirements modeled after those governing the financial sector.

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