State pre-emption draws sharp line between parties at breach-notification hearing

Republican and Democratic leaders of a House Financial Services panel pointed to state pre-emption as perhaps the key issue to resolve in breach-notification legislation -- but the two parties appeared on a collision course at a hearing today when it comes to creating a federal data-breach standard.

Financial Services financial institutions and consumer credit subcommittee Chairman Blaine Luetkemeyer (R-MO) said the hearing helps set the stage for legislation that he has suggested will be circulated soon. Financial Services staff have...