The following content is electronic payment federation.
that’s all 780,000 data records Lives are lost to data breaches and hacks every day, and there is little the average American can do to protect themselves from them.
That’s why we trust our financial institutions to protect our data, and rightly so.banks and credit unions invest billions of dollars Because we understand the importance of protecting our customers’ confidential information. The sensitive information they hold is so valuable that they must strictly adhere to data security compliance requirements.
Megastores like Walmart, Target, and Home Depot, which value profits over the interests of hard-working Americans, do no such thing.
a new bill The organization, backed by Sens. Dick Durbin and Roger Marshall, threatens to put power directly into the greedy hands of big-box stores willing to risk Americans’ data security to soar their profits. ing.
The Durbin-Marshall bill proposes a complete change to the current credit card system. This law allows cards to be routed over alternative networks. While ordinary Americans view this change as ominous (and rightly so), Durbin and Marshall’s big-store allies believe it will allow them to cut corners and create cheaper, less secure products. I’m only looking at dollar signs to be able to switch to a router.
Recent the study This report provides deeper insight into how moving routing decisions from banks to corporate retail stores leads to increased risk of data breaches. As the report points out, megastores have a long history of putting customer data at risk. Wawa, Home Depot, and Target all experienced combined malware attacks that compromised credit and debit card data. Over 127 million people.
Unlike banks and credit unions, Megastore does not invest in security measures to protect customer data from malicious parties. They will do anything to line their own pockets, even at the expense of the American people.
Home Depot didn’t even have a chief information security officer until the infamous 2014 data breach. Similarly, after the Wawa breach, attorneys general said the company did not even take “reasonable security measures to protect customer data.”
These companies have demonstrated time and time again that they are of no value to the American people by refusing to protect them or be transparent with them. They have no remorse for the financial and emotional stress they have caused their customers and have yet to learn from their mistakes.
Durbin Marshall’s credit bill would allow megastores to cut even more corners when it comes to data security. Congress needs to reject this bill to help the American people. Americans deserve more data protection, not less.
It’s now up to Congress to decide what’s more important: helping voters or big corporate lobbyists. If they truly care about Americans, the decision should be easy.
