Texas Mulls Bill That Would Make PCI Requirements a State Law
Jaikumar Vijayan writes on ComputerWorld:
Retailers and other entities accepting credit and debit card transactions in Texas may soon have a powerful new incentive for complying with the Payment Card Industry (PCI) data security standard mandated by the major credit card companies.More here.
The state's House of Representatives last week voted 139-0 in favor of a bill that would formally codify PCI requirements into a state law that merchants would be obliged to comply with if passed. Under HB 3222 a breached entity will have to reimburse banks and credit unions the cost associated with blocking and reissuing cards if the merchant was not PCI compliant at the time of the compromise. It also provides a safe harbor against such liability for companies who are PCI compliant and get breached. The proposal needs to win approval in the state Senate before it becomes law.
posted by Fergie @ 5/14/2007 04:33:00 PM
1 Comments:
This House Bill died in the Texas Business and Commerce committee (5/23/2007)
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