OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Schumer on Mastercard Breach

Date: June 17, 2005
Location: Washington, DC
Issues: Finance and Banking


Schumer on Mastercard Breach

Sen. Schumer released the following statement regarding the recent Mastercard breach exposing up to 40 million credit card records:

"Hardly a week goes by without startling new examples of breaches of sensitive personal data reminding us how important it is to pass a comprehensive Identity theft prevention bill in Congress quickly. Consumers' personal and financial data has become the gold of the 21st century and we need to protect it accordingly."

The Schumer-Nelson comprehensive ID theft prevention legislation was introduced in April and awaits action in the Senate. The bill would require all companies responsible for handling sensitive consumer data to take reasonable steps to prevent ID theft. It would create an office of ID theft at the FTC and would set comprehensive national standards for companies handling sensitive consumer information.

http://schumer.senate.gov/SchumerWebsite/pressroom/press_releases/2005/PR41727.Mastercard.061705.html

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