Fergie's Tech Blog

Stronger Credit Card Security Prevails In Minnesota, Fails In Texas

Larry Greenemeier writes on InformationWeek:

It looks like Texas won't be the first state to pass a law that codifies the personal data protections outlined in the Payment Card Industry (PCI) data security standard.

As the Texas state Senate was this week shooting down a bill that would require businesses that collect personal information to use PCI to secure sensitive personal data, the Minnesota legislature passed its Plastic Card Security Act.

Minnesota becomes the first state to create a law that shifts the costs associated with data breaches from financial institutions to the retailers who mishandle consumers' private financial data. The law, which passed by votes of 122-4 and 63-1 in the House and Senate, respectively, also gives retailers added incentive to protect consumers' information.

posted by Fergie @ 5/24/2007 05:39:00 PM