Rep Bono Mack releases draft of data breach bill

Rep Mary Bono Mack (R-CA) released a draft of a bill that would establish national notification standards for firms that suffer data breaches that compromise customers' personal information.

The chairman of the House Commerce Committee's Manufacturing Subcommittee called the recent string of high-profile hacker attacks "a threat to the future of electronic commerce." The Subcommittee is set to hold a hearing on the Secure and Fortify Data Act (SAFE DATA Act) June 15 at Rayburn House Office building. The bill would require companies to notify the Federal Trade Commission and consumers within 48 hours of when a data breach has been secured and the scope assessed. The FTC could levy fines if companies fail to do so in a timely manner. Nonprofits and charities would also be subject to the law.