Luetkemeyer drafts narrow breach-notice bill focused on financial sector

Rep. Blaine Luetkemeyer (R-MO), chairman of a Financial Services subcommittee, is drafting data security and breach notice legislation that would apply only to the financial sector, with an eye toward marking up the measure in September, according to a source close to the panel.

The bill, which is still being finalized, would codify existing breach notification and security requirements for financial institutions covered by the Gramm-Leach-Bliley Act, the source told Inside Cybersecurity, and would pre-empt state jurisdiction over these entities....