Legislators hope for speedy data privacy law

Several lawmakers in Congress are optimistic that a new law to protect consumers’ data from being stolen can be passed quickly, weeks after major hacks dominated the headlines.

The retail and banking industries have begun to face off over potential new legislation, with each worried that new provisions could unduly affect their businesses. Sen Mark Warner (D-VA) said in a Senate Banking subcommittee hearing that the legislative battle should not mirror a recent fight between the industries over “swipe fees.” “We do not need, I don’t believe, a multi-year legislative battle here when hackers are not going to take time out and American consumers are going to be increasingly at risk,” he said during the first of three hearings throughout Congress on data breaches. Rep Joe Barton (R-TX) predicted in a panel discussion for the Bipartisan Privacy Caucus, which he co-chairs, that a bill would be passed in 2014. “It’s one of the few issues in the next 10 months that the House and the Senate can work with the president on,” he said. “I’ll go out on a limb here and predict that we’ll actually do that.”