The Senate took up the “Cybersecurity Information Sharing Act” this week after earlier attempts were blocked by privacy advocates. The bill would provide liability protection for multifamily firms and other companies from civil lawsuits and existing antitrust laws when they voluntarily exchange information about potential cyber threats. Given the amount of personal information apartment firms collect, including Social Security numbers, driver’s license numbers and more as part of the leasing process, this issue is a high priority for the industry.
NMHC/NAA endorsed the bill and have watched its progress carefully. That’s because it had been viewed as a possible vehicle for a data breach notification amendment that would impact apartment companies and their third-party suppliers.
Senate Majority Leader Mitch McConnell (R-KY) said his chamber is likely to pass the legislation within days, which would start the negotiation process with the House. After that, the bill would move to President Obama’s desk for his signature.
A recent NMHC article published by Multifamily Executive entitled, “Breach, Baby: Are Thieves Walking Off with Your Data?” provides details on how multifamily firms can protect their data, networks and reputations. Also visit NMHC’s Data Security advocacy section for more in-depth guidance and information.
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