Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Massachusetts adopts stricter consumer data rule
BOSTON (9/24/08)--Massachusetts state regulators released new rules Tuesday to make businesses better safeguard consumers’ personal information. The Massachusetts Office of Consumer Affairs and Business Regulation issued the regulations, which require companies that handle personal information--such as Social Security numbers and credit card accounts--to encrypt stored data, monitor employees’ access to the data, and take other measures to safeguard customer information. They become effective Jan. 1 (Boston.com Sept. 23). Massachusetts Gov. Duval Patrick also signed an executive order that requires state agencies to take similar precautionary measures. Consumer concern about the increasing number of data breaches containing personal information prompted the state’s action, Daniel Crane, Massachusetts undersecretary of consumer affairs and business regulation, told the paper. Hundreds of credit unions nationwide had to reissue thousands of plastic cards to members as a result of the TJX Cos. data breach, which exposed the personal information on at least 45.67 million cards. TJX operates TJ Maxx and Marshalls stores. Other data breaches this year include supermarket company Hannaford Bros., mortgage company Countrywide Financial Corp., and Bank of New York Mellon.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
4 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
4 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
7 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
8 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
9 hours ago