WASHINGTON (AP) — It's no battle of small fry as banks and big retailers go at it in the aftermath of the holiday season data breach at Target.
The two sides are doing some finger-pointing on the question of who bears more security responsibility.
The retailers say banks need to update the security technology for credit and debit cards.
The banks say even newer computer chip technology wouldn't have helped in the Target breach and it's up to retailers to tighten their payment processing systems.
Both industries come with considerable lobbying might and lawmakers are being bombarded with letters.
There is agreement that Congress should create a national standard for notifying consumers of data breaches.
Consumers, meanwhile, are caught in the middle and a recent poll finds nearly half are extremely concerned about the vulnerability of their personal data.
Four congressional committees have scheduled hearings this week.
058-a-07-(Senator Jon Tester, D-Mont., and William Noonan, deputy special agent in charge, secret service, during senate Banking subcommittee hearing)-"right, yes sir"-Senator Jon Tester asks a secret service official if time is of the essence for authorities to learn about data threats. (4 Feb 2014)
<<CUT *058 (02/04/14)££ 00:07 "right, yes sir"
032-c-27-(Jerry Bodlander, AP correspondent)-"to improve security"-AP correspondent Jerry Bodlander reports officials of two retailers go before a Senate panel investigating the recent data breaches. (4 Feb 2014)
<<CUT *032 (02/04/14)££ 00:27 "to improve security"
086-a-13-(Jessica Rich, director, Bureau of Consumer Protection, Federal Trade Commission, testifying before Senate Banking subcommittee Monday)-"no civil penalties"-Jessica Rich of the Federal Trade Commission says there needs to be federal reporting requirements for when data breaches occur. ((longer version of cut in wrap)) (4 Feb 2014)
<<CUT *086 (02/04/14)££ 00:13 "no civil penalties"
087-a-04-(William Noonan, deputy special agent in charge, Secret Service, testifying before Senate Banking subcommittee Monday)-"criminals to justice"-William Noonan of the Secret Service says the agency is investigating who is behind the data breaches at Target and Neiman Marcus. (4 Feb 2014)
<<CUT *087 (02/04/14)££ 00:04 "criminals to justice"
044-w-30-(Jerry Bodlander, AP correspondent, with Jessica Rich, director, Bureau of Consumer Protection, Federal Trade Commission)--A Senate panel heard a plea for a greater effort to combat computer hackers. AP correspondent Jerry Bodlander reports. (4 Feb 2014)
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057-a-06-(Senator Jon Tester, D-Mont., during Senate Banking subcommittee hearing)-"in this situation"-Senator Jon Tester says there can't be a delay in letting people know when a breach occurs. ((longer version of cut in wrap)) (4 Feb 2014)
<<CUT *057 (02/04/14)££ 00:06 "in this situation"
031-c-21-(Jerry Bodlander, AP correspondent)-"to tighten security"-AP correspondent Jerry Bodlander reports lawmakers want answers from a leading retailer. (4 Feb 2014)
<<CUT *031 (02/04/14)££ 00:21 "to tighten security"
030-w-34-(Jerry Bodlander, AP correspondent, with Senator Jon Tester, D-Mont.)--A Senate panel is set to hear from officials of two major companies that suffered data breaches. AP correspondent Jerry Bodlander reports. (4 Feb 2014)
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