In January, the President and Congressional leaders called for cooperation in passing cybersecurity legislation to address the growing threats faced by American businesses and consumers. The president called for Congress to pass legislation that would establish a federal data breach standard and give the Federal Trade Commission enforcement and rulemaking authority to implement the law. Legislation has already been introduced in the Senate and House directing the FTC to promulgate regulations requiring entities that own or possess personal information to have policies and procedures to protect that information.
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