Will the Fed Follow The States' Lead In Passing Data-Breach Legislation?

Currently 46-states have passed data-breach legislation and New Mexico is heading toward being the 47th.

State legislators in the Southwestern state are currently considering HB 224, which would mandate that organizations notify individuals whose data has been compromised as the result of a breach within 10 days of breach discovery and the state attorney general if more than 50 state residents are affected.

The bill further regulates how merchants can collect, share and dispose of consumer data; it also empowers the the state attorney general to off injunctive relief in the event of a large scale breach.

There is still not federal regulatory guidance when it comes to data breaches, though Congress has recently had hearings on the subject. 

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