“The massive data breach announced yesterday at JP Morgan 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. 

Holding hearings on data security every few years just isn’t good enough. The time for taking action is past due. 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. 

As private companies continue to amass an ever growing trove of consumer’s personal data, I call on the Republican leadership of the Financial Services Committee to take seriously their responsibility to ensure consumers are adequately protected.”