The office . Asking for a friend. Obama actually returned good question bill clinton. The handle comes with the house. Know anyone interested in flotus. President obama picked up his first 1 million followers in a few hours. Ive seen other accounts that hes had. This is the first one at potus. Its cute. What happened in ramada yesterday . The fall of ramada. I saw this last night. I saw quite a bit of news on this. Where is that . Iraq . Iraq and its very close to baghdad. They have them too right . Put that twitter account. Bill clinton and first lady and hilary and all. Yeah. Anyway good morning. Good morning, how are you . Hows wall street . Not very tame. You read my column today. Its still unethical. Lawyers, or madison avenue or government or politics. Anyway. On the front page of the New York Times today they were talking about the revival of wall street. How many private email accounts do you have . How about you . 16. But i got really good stuff going on. Home depots Quarterly
American consumers rightfully expect their personal information should be protected by their Financial Institution by their retailers, payment processors that neither federal government. Consumer should be left to hope and pray that all information will be safe every time despite their debit or credit card or rent your information online. They deserve protection. Today the committee will hear from representatives of organization to constitute major participation for the Payment System. We welcome their expertise and insight. My hope is they carried out for its members on both sides an opportunity to better understand what security measures are currently in place to prevent data breaches, how consumers are notified and what types of emergency technologies will help reduce the frequency and severity of breaches and what steps are being taken by the merchant in Financial Services communities to address the problem and where additional federal legislation may be warranted. I further hope t
Which is massachusetts, and ive been talking to some of my colleagues from massachusetts. Would you agree with that . I think also oregon has a pretty good standard. There are elements of other state laws you may not consider specific data laws. A pretty High Standard . It is a pretty High Standard, yes. Thats the starting point for us. Theres been some discussion about the Standard Energy in commerce. Would you say its a higher standard than what our bill would propose. Our standard is a reasonableness standard. So i think the difference here is not only might there be a difference in what the language says in that bill i think, also, we would be looking to the common law of the ftc and others to flesh out what the specific requirements are but its really important as were thinking about how strong the security standard is, to think about who has the enforcement power and whos going to be guiding the parties there. If the federal agencies are solely responsible for it even a strong st
It. I said in the opening comments that the preemption should not have the unaintended consequence raised outside the bill. We would certainly be willing to make that plain. Miss moy, you said i thought i heard you say that we shouldnt have 50 different standards is not the answer. Is that what you said, or did i mishear your comments . So what i have said is i think the best for consumers would be to create a floor, not a ceiling so that states can continue so set a National Standard and then allow states to protect additional categories of information. So my understanding is 13 states have data breach standards like this. And ours would be better than all of them except maybe one which is massachusetts and ive been talking to my colleagues from massachusetts. Would you agree with that . I well so i think that oregon has a pretty good standard and i also think there are elements of other state laws that you might not consider specific day sta security laws. A pretty High Standard . It
Screeria nigeria. Parliamentary elections, and later a house hearing on the tsa and airport security. Today the House Financial Services Committee Held a hearing on protecting Consumer Financial data, its partly in response to high profile data breaches at banks and retailers. Congressman jeb hence erlg chairs this threehour hearing. [ inaudible ]. Financial Data Security in the age of computer hackers, given that the pa just turned on, it is a testament to the fact to members welcome home. I assume we have many of our colleagues who are furiously running from hvc201 as we speak. For our witnesses and our the audience we have been no mads since the beginning of the year. So you will notice a few changes in the room. This renovation was caused by an upgrade of the audiovisual systems, although i did not specifically request it i saw notice there are twice as many microphones in our hearing room as before. I wish to notify members that does not mean they can speak twice as long. That doe