Credit unions push legislation on PCI Data Security Standard
As an increasing number of states consider bills seeking to codify pieces of the Payment Card Industry (PCI) Data Security Standard into law, a common thread is emerging: the involvement of credit unions in pushing the legislation.
California legislators this week held a hearing on a bill that would set new data security and breach-notification requirements for all organizations processing credit and debit card transactions in the state. Businesses hit by breaches would also have to reimburse affected banks and credit unions for the costs of alerting customers and reissuing cards.
[ Read more ]