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News Now

CU System
New Jersey data breach bill reintroduced
HIGHTSTOWN, N.J. (7/8/08)--A New Jersey data breach bill has been reintroduced this session and the New Jersey Credit Union League is working to move the legislation forward, according to the league. The bill, which remains unchanged this session, would limit retailers’ use and retention of personal consumer information and hold a breaching party financially responsible for losses including the cost of card replacements. Issuers also would be able to disclose to their cardholders the party responsible for the breach (Weekly Exchange June 30). “There’s nothing new,” Candice Areia, league director of marketing and communications, told News Now. The measure was heard in committee during the lame-duck session but was not reported for a floor vote because a retailer and restaurant association strongly opposed it, the league said. The bill is sponsored by Assembly Financial Institutions and Insurance Committee Chair Neil Cohen (D-20). The league partnered with the New Jersey Community Bankers Association to develop the legislative strategy.
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