Congressional Hearing on Data Security and Breach Notification Rules
January 1, 2018
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The Frame
The hearing explores potential changes to federal data security laws that could alter how financial institutions and other businesses are required to protect consumer information and report data breaches to the public.
Potentially affected actors named in the source documents. Mention is not a position.
Financial Institutions
These entities are subject to current data security regulations and potential future changes to breach notification requirements.
Consumers
Consumers are the subjects of the data being protected and the recipients of breach notifications when security incidents occur.
Last recorded activity January 1, 2018.
Next step not available in the current record.
Summary
Key Facts
- The hearing was held on February 14, 2018, by the Subcommittee on Financial Institutions and Consumer Credit.
- The session focused on evaluating the existing regulatory framework for data security and breach notification requirements.
- Five expert witnesses provided testimony regarding industry standards and regulatory gaps.
- The record includes written statements from various trade associations, including the Independent Community Bankers of America and the National Association of Insurance Commissioners.
- Witnesses provided written responses to follow-up questions submitted by Representative Denny Heck.
- The hearing is documented as Serial No. 115-73 of the 115th Congress.
Frequently Asked Questions
What was the purpose of this hearing?
Who testified at the hearing?
Why It Matters
The hearing explores potential changes to federal data security laws that could alter how financial institutions and other businesses are required to protect consumer information and report data breaches to the public.
News Coverage
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Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Pre-GDPR Context
The hearing occurred in early 2018, just months before the implementation of the EU's GDPR, which influenced the discussion on U.S. data protection standards.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance65How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment10Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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