The House Financial Services Committee today advanced Luetkemeyer’s legislation that would pre-empt state-level data breach notification rules for the financial services industry. The vote was 32-20 along party lines. Ranking Member Maxine Waters (D-CA) offered an amendment that would have eliminated the state preemption element of the bill, arguing that the legislation would reduce not strengthen the privacy and security of consumers’ personal information. Waters’ amendment was rejected.
The bill now heads to the House floor but it is unclear when/if it will be considered this year.
Link to bill announcement: https://www.congress.gov/bill/115th-congress/house-bill/6743?r=11