As reported previously Congress is focusing more attention on data security. On February 14, the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee held a hearing that examined the current regulatory landscape surrounding data security and breach notification standards. Before the hearing, NMHC/NAA had been working with the leaders of the Subcommittee to reiterate our industry’s support for strong consumer protections that are scalable and attainable for businesses of all sizes.
The hearing covered a wide swath of issues related to data security with bipartisan agreement on the need for greater consumer protections and enhanced breach notification requirements. Opinions varied among Members of Congress on the more controversial issues surrounding the possible federal pre-emption of existing state laws, third party liability, and regulatory enforcement of any new standards.
The Subcommittee appears poised to revisit the topic in the near future with an upcoming legislative hearing expected on a bill that is being drafted by Rep. Blaine Luetkemeyer (R-MO) and Rep. Carolyn Maloney (D-NY). This legislation will aim to implement a national data security and breach notification standard. NMHC/NAA have been in close contact with Congressman Luetkemeyer and other key allies to share insights into how the industry uses consumer data and how it protects it.
NMHC/NAA will continue to work with Congress to create a federal data standard that recognizes the unique nature and needs of the rental housing industry while ensuring the data that our members collect, use and maintain is secure.
More on Data Security can be found here.
- Data Compliance and Connectivity Concerns Mount
- National Multifamily Housing Council Issues Data Privacy and Protection White Paper
- Data Privacy and Protection: Practical Considerations for Apartment Firms - White Paper
- Congress Presses Forward on Consumer Data Privacy
- Data Security Letter to Senate Committee on Banking, Housing and Urban Affairs