ETA Opposes More Data Breach Red Tape
2-6-2017
PJ Hoffman
On February 6th, ETA sent a letter to express our opposition to New Mexico H.B. 15, The Data Breach Notification Act. New Mexico H.B. 15 represents an additional hurdle in building a national uniform data breach notification framework. If enacted, this bill would hamper the ability of businesses to provide timely information while unnecessarily hampering critical business operations. The proposed bill includes an unreasonably short window of 10 days for notifying each merchant services provider for breaches of credit card or debit card numbers. If signed into law, this bill would impose a timeline much shorter and inconsistent with many other state requirements that businesses must already comply with. Consumers and businesses are best served when they have a common and consistent expectation of breach procedures, and company time and resources can be devoted to innovative security solutions to protect against new threats.
Data security & breach notification legislation at both the federal level and the state level is an important issue for the continued growth of the payments industry. Delivery of proper notification to affected individuals when data is compromised is vitally important for both businesses and consumers. ETA believes in the importance of a uniform national standard for breach notification. In order to build the most meaningful and effective data breach solution, it is imperative to tackle this issue with a clear federal standard rather than a patchwork of state laws. Currently, disparate laws in 47 states plus District of Columbia, Guam, Puerto Rico, and the Virgin Islands, frustrate efficient and uniform breach notification to consumers.
As the trade association of the payments industry, ETA stands ready to assist in efforts to ensure that consumers and merchants continue to benefit from the safety and security of our nation’s payments systems. During the last few Congresses, bipartisan bills have been introduced in both bodies of Congress to create a uniform national standard for data breach notification. ETA has supported these bills and looks forward to working with the 115th Congress to advance similar legislation.
Click here to access the letter.
PJ Hoffman is the Director of Regulatory Affairs at ETA. He can reached at [email protected].
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.
Related Posts
News
Is the Relationship Between Financial Institutions (FIs) And Fintechs Complicated? Not Anymore.
By Sumit Arora, Senior Vice President, Enterprise Payments Strategy, Wells Fargo Building a Balance Between Competition and Collaboration There is a long history between banking and technology, dating back to around 1866 when the telegraph . . .
6-16-2022
learn more
News
ETA CEO Jodie Kelley: Reflections on the Past Year and Looking Ahead to the Future
By Jodie L. Kelley, CEO, ETA. As I complete my first year as CEO of ETA, I am struck by what an extraordinary year it was in so many ways. As we entered 2020, I . . .
9-28-2020
learn more