The top Democrat on the House Financial Services Committee is calling for Congress to pass cybersecurity legislation in response to the massive security breach at JPMorgan Chase.
“The massive data breach announced yesterday at JPMorgan Chase serves as a pressing reminder that more must be done to strengthen data security across the financial system and protect consumers’ sensitive financial and other personally identifiable information," Rep. Maxine Waters (D-Calif.) said in a statement.
JPMorgan officials announced on Tuesday that 76 million household accounts were breached. It’s the latest in a string of major hacking attacks that have hit companies including Target and Home Depot.
"Holding hearings on data security every few years just isn’t good enough," Waters said. "Congress must move to bolster data security requirements and strengthen consumer protections that ensure victims are notified in a timely manner when their financial and personal information is stolen."
Most lawmakers agree about the need for a national standard of data security requirements to replace a patchwork of state laws.
But Democrats such as Waters have advocated for more stringent national standards that Republicans say are an overreach.