Speaking at the FTA, President Obama gave a proposal to help improve the data security and privacy of the American users. One of his proposals included creating a “federal law” that would address data breach disclosures all over the US.
According to the President, the new law will require the victim companies to share the details with their customers. He was quoted as saying, “We need a single strong standard that will allow Americans to know whether their data or information has been breached or misused. It’s high time that we replace the patchwork law with a federal privacy law because right now every state has a different law”.
As of now, Congress has not yet looked deeply into the proposal that will require companies to share the details of the breach with their customers within 30 days of the incident.
Some states already have a time-frame policy in place. For instance, companies in states like Connecticut and California are required to take their customers on board within 5-days if health care or insurance data breach is involved.
President Obama also announced legislation for the protection of Students’ data while speaking at the FTA. He stressed that law makers should focus on protecting students’ data to ensure that their academic records and data remain safe and don’t end up being sold to third-parties.