Data security is a topic that touches on the jurisdiction of numerous congressional committees. “One of the things I’m trying to do with my bill is stay in the jurisdiction of my committee,” Neugebauer said, adding that if he included provisions beyond the Financial Services Committee’s mandate, it would slow down the process.
He said the bill would be similar to the ABA-advocated S. 961, introduced by Sens. Tom Carper (D-Del.) and Roy Blunt (R-Mo.) to strengthen data security standards for all participants in the payments system and recognize the high standards for data security and breach notification already employed by the banking industry.