ID Theft Bill HR 3997 Put On Hold in House

GuardMyCreditFile reports:

HR 3997, the controversial bill that would stop the states from regulating data breaches, has been placed on hole in the House of Representatives. The bill, written primarily by the financial services industry, was scheduled to be voted on this week by the house. The move is good news consumer and privacy groups. But the bill is not quite dead yet.

HR 3997 would have weakened laws regulating consumer data breaches by replacing strong laws in 34 states with a very weak federal standard. Under the standard that is contained in the bill, companies would be given a choice of whether or not to notify consumers when their data was exposed without authorization. Most consumer groups agree that very few, if any notifications would take place.

My recent post about this is here.