Mass. Law Would Require Reimbursement for Data Breaches

Businesses would have to reimburse banks for costs stemming from data security breaches, under a Massachusetts bill that could be mimicked by other states and in Congress. In what appears to be the first stab at such an approach, the proposal would require any "commercial entity" that handles personal financial data to foot the bill for various banking costs caused by hacks or other intrusions into their systems.

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