Banks, CUs Battle Retailers Over Proposal to Disclose Consumer Hacks

  Image Source: Article

Image Source: Article

American banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they’ve experienced a data breach.

Equifax Inc. said last week that it would notify an additional 2.4 million consumers who were hacked during its massive data breach in 2017 — but a draft of a House bill with bipartisan support would exempt the credit-reporting agency from the new requirements.

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