Johnson, Crapo Request Data Breach Info
Senate Banking Committee Chairman Tim Johnson, D-S.D., and ranking member Mike Crapo, R-Idaho, asked Treasury Department officials and banking regulators what actions they’re taking to prevent data breaches within the financial system, in a letter Tuesday (http://1.usa.gov/1wtXm64). Treasury Secretary Jacob…
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Lew and Federal Reserve Chairwoman Janet Yellen were among the officials copied on the letter. “The recent breaches show once again that no company is immune from the risk of cyberattack,” said Johnson in a Tuesday release (http://1.usa.gov/1uGxks9). “While financial institutions and retailers are at the front lines in protecting consumers’ information, the financial regulators must also ensure that financial institutions have the appropriate safeguards in place to keep consumers’ data safe,” he said. “I look forward to hearing more about the steps they are taking,” said Johnson. JPMorgan Chase said recently that 76 million households and 7 million small businesses were affected by a breach in June (see 1410060071).