Bill eyes 30-day deadline for data breaches
A state committee is eyeing a bill that would set a 30-day deadline for businesses and financial institutions to report data breaches to customers.
MPBN reported that Rep. Sharon Treat, the bill's sponsor, cited an October data breach at TD Bank, formally announced six months after data associated with 35,000 customers was lost, as part of the impetus for the bill.
MPBN reported that Treat's bill would set a fixed 30-day timeline for reporting breaches and would double the range of current possible fines.
Opponents of the bill, including the Maine Bankers Association, say that the 30-day reporting window is not in line with federal regulations and that notification timelines might vary depending on the breach.
Kathy Keneborus, a spokeswoman for the association, said during a public hearing on the bill that delays are sometimes requested by law enforcement to allow investigation of the data breach before knowledge of that breach is made public.
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