Breach notice, regulatory harmonization are top policy concerns for Chairman Luetkemeyer

A “national crisis” exists around the cybersecurity of consumer data, according to House Financial Services financial institutions and consumer credit subcommittee Chairman Blaine Luetkemeyer (R-MO), who sees addressing that problem as an opportunity to both shore up protections while harmonizing an often duplicative regulatory structure.

Luetkemeyer announced at a subcommittee hearing Wednesday that he is drafting consumer data security and breach notification legislation, and suggested he will hold one more cybersecurity hearing this year. He did not offer a...