Congress Eyes Consumer Notification OnCards Breach

WASHINGTON - (07/21/05) -- A group of influential lawmakers,grappling with recent incidents of broad credit card data theft,will introduce legislation Thursday requiring credit card companiesto notify consumers when their personal information may be at risk.The bill is aimed at recent incidents, especially the one atCardSystems Solutions when company officials waited for monthsbefore they notified credit union and banks that data on as many as40 credit card accounts it processed had been stolen. Credit unionsare still working to resolve the issue with dozens of institutionsrecalling cards and issuing new ones at the costs of millions ofdollars. The bill is being sponsored by Rep. Deborah Pryce, R-Ohio,the chairman of the House Financial Services International MonetaryPolice Subcommittee, as well as committee members Steve LaTourette,R-Ohio, Michael Castle, R-Del., Darlene Hooley, D-Ore., and DennisMoore, D-Kan.