The public hearing on the Consumer Data Security Bill (HB 797) was held yesterday in Montgomery at the Alabama State House. I attended the hearing along with approximately 30 other credit union representatives from across the state of Alabama. The hearing was initially going to be concluded with a vote among the committee members, but the vote has been delayed pending additional research and information.
It was a good show of support by the credit union industry. We of course were there on behalf of our member-owners who are the ones experiencing the data breaches from merchants and their transaction processors. This legislation is designed to protect the security of the consumer. Merchants and retailers are being asked to comply with security standards that they agreed to provide when they began accepting debit/credit cards as a form of payment.
A public hearing on this Consumer Data Security legislation in the Alabama Senate is also being held today. I was not able to attend the session today but I am confident that a strong credit union presence will be in place today in Montgomery as well.
We are not asking for member calls and contacts to state legislators at this time although that may be a request in the future. This Consumer Data Security legislation is important and necessary to provide accountability to those merchants and retailers who choose not to abide by accepted security measures.
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