ABA and several other trade groups submitted a statement for the record of today’s House Financial Services Committee hearing on data security, emphasizing the shared responsibility that all participants in the payments system have for safeguarding customer data.
To that end, the groups called for a national data protection standard that would recognize the high standards already in place in the financial industry. They commended H.R. 2205, the data security bill introduced by Reps. Randy Neugebauer (R-Texas) and John Carney (R-Del.).