Nathan Taylor was tapped to testify on February 14, 2018 before the House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit, on a panel entitled “Examining the Current Data Security And Breach Notification Regulatory Regime.”
Data security standards and breach notification standards have long been a subject of considerable debate, because a patchwork of conflicting state laws governs both subjects. On September 7, 2017, Equifax announced a major data security breach, which first began in May 2017 and involved the personal financial data of nearly one-third of the population of the United States. Beyond Equifax, data breaches are becoming more prevalent in all industries, as reliance on technology increases efficiency while also creating new risks to both consumers and businesses in all sectors of the economy.
The hearing will examine opportunities to reform current federal and state data security regulatory regimes in order to close any gaps in data security and data breach regulation, and reduce vulnerabilities and shortcomings in the system.
Watch the video of the hearing.