Stars aligning for data security legislation

After headline-grabbing hacks at familiar retailers, lawmakers and analysts say the time could be right for a new data security law.

Three different committees in Congress will probe whether a new federal law might need to be enacted to protect shoppers' data. Since more than 100 million people may have had their data stolen in recent weeks, advocates say now is as good a time as any. “These threats affect everybody," said Delara Derakhshani, policy counsel with Consumers Union, the advocacy arm of Consumer Reports. “So policymakers and regulators and legislators I think are aware of this... We do think that the time is right, right now, especially in light of all these revelations."