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Texas Rep. Gary Elkins Files Data Security Bill
Monday, February 27, 2017 7:00 AM

The Texas Credit Union Association has been working with Rep. Gary Elkins who filed H.B. 2333, a bill to strengthen protections for sensitive credit and debit card information.

The bill would require that a business report a breach of its system to the attorney general no more than 24 hours after discovery of the breach and send notice to each financial institution that issued a credit or debit card affected by the breach as soon "as practicable."

A victim compensation fund would be created to pay claims to consumers who suffered a financial loss due to the breach and to reimburse financial institutions for costs associated with the breach.

The businesses would be liable for a penalty of $50 for each credit and debit card that was compromised. The money from these fees would go into the crime victim compensation fund.

Elkins has represented his district for more than 20 years and is the chairman of the Government Transparency and Operations Committee, which has jurisdiction over cybersecurity issues.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.