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Entity that anchors the breach. Preventing such breaches, any requirement must have strong data protection. Requirements applicable to any party with access to important Consumer Financial information. Thank you. I will be happy to answer any questions you may have. Attorney general medic . Thank you, chairman moran. Members of the subcommittee. I appreciate the opportunity to testify. Data security is one of the Biggest Challenges we face as a nation. It is an ongoing struggle for all americans and companies that hold our personal information. While last years massive data breaches reawakened...

That store data. You think this precludes the need for a federal dado security . No, i dont. We have used our authority under section five of the ftc act. We think we have used it effectively. In particular, we think there are three areas we could issue authority. We would like to see legislation that would give the fcc civil penalty authorities. That will enable us to deter more effectively. We also believe that we need jurisdiction over nonprofits. We found that a number of breaches occur at nonprofits. We lack authority over nonprofits. That is a gap we would like to see filled. In addition...

Was released publicly. Broad public notification, yes. Notified about the malware and spend the next few days containing, disabling and removing the malware. January 10, we started notifying the public and customers directly. To both companies have policies in place on how you would do this consumer notification . We have several crisis communication plans and we enacted them immediately upon finding the crisis. Know, senatoryou leahy has a bill on some of these notification issues. I think some of the issues senator feinstein raised are worth discussing. We also have to realize that smaller r...

Must act to pass Data Security and breach notification legislation. The administration has proposed similar legislation. Congress must act again and we must ensure that such legislation makes its way to the president s desk for signature. To that end, im most interested to hear any opinions of the f. T. C. And what they may wish to share to us. All my questions this morning will be addressed to chairman ramirez. Now, chairman, in your written testimony, indicates that the commission enforces a variety of statutes such as gramleach bliley and Privacy Protection act. Do any of these acts require...

Look to portugal, tenyear rocketed to 4 , was 358 friday as the european indexes there are firmly in the red. Road map begins with the sell off on the globe; jobless claims fall from a week ago, and european worries drag down equities in the u. S. Family dollar profits fall for the third time as Carl Quintanilla icahn continues to push for the sale of the company. Costco, sales flat in premarket despite same store sale numbers strong. Allergan fights back after the bid to take it over. Well hear from the ceo. Third time the charm for bank of america . Reportedly submitting another capital plan...