Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
President Obama Announces Cybersecurity Data Privacy Initiatives
Author: Scarinci Hollenbeck, LLC
Date: January 15, 2015
Key Contacts
Back
SOTU Preview: President Obama Will announce Cybersecurity and Data Privacy initiatives
With the support of the business community, President Barack Obama recently announced plans for a uniform data breach notification standard. Obama’s national federal standard was just one of several cybersecurity and data privacy initiatives the President has previewed in advance of his January 20 State of the Union Address.
Most states have data breach notification laws in place, which dictate how private and government entities must notify individuals of data breaches involving personally identifiable information. The federal regulation would replace these laws, which often vary from state to state.
“It’s confusing for consumers and it’s confusing for companies—and it’s costly, too, to have to comply to this patchwork of laws,” the President stated. “Sometimes, folks don’t even find out their credit card information has been stolen until they see charges on their bill, and then it’s too late.”
Under the Personal Data Notification and Protection Act, companies would have to notify consumers of a data breach within 30 days.
The proposed data privacy initiatives and notification legislation would also make it a crime to sell customers’ identities overseas.
As previously discussed on the Scarinci Hollenbeck Business News Blog, the cost of data breaches is on the rise. According to the Ponemon Institute’s 2014 Cost of Data Breach Study, the average cost of a data breach was $3.5 million in 2013, representing a 15 percent increase over 2012 figures. A national standard is expected to lesson the costs of responding to data breaches by allowing companies to develop one response plan that can be implemented across multiple jurisdictions in which they have operations.
For consumers, it should speed up the notification process considerably.
Do you have any feedback, thoughts, reactions or comments regarding Obama’s statements on data privacy initiatives at the State of the Union Address? Feel free to leave a comment below and follow the twitter accounts @@, @
- Locations: Red Bank, NJ, Little Falls, NJ
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
Does Your Homeowners Insurance Provide Adequate Coverage?
Your home is likely your greatest asset, which is why it is so important to adequately protect it. Homeowners insurance protects you from the financial costs of unforeseen losses, such as theft, fire, and natural disasters, by helping you rebuild and replace possessions that were lost While the definition of “adequate” coverage depends upon a […]
Author: Jesse M. Dimitro
Understanding the Importance of a Non-Contingent Offer
Making a non-contingent offer can dramatically increase your chances of securing a real estate transaction, particularly in competitive markets like New York City. However, buyers should understand that waiving contingencies, including those related to financing, or appraisals, also comes with significant risks. Determining your best strategy requires careful analysis of the property, the market, and […]
Author: Jesse M. Dimitro
Fred D. Zemel Appointed Chair of Strategic Planning at Scarinci & Hollenbeck, LLC
Business Transactional Attorney Zemel to Spearhead Strategic Initiatives for Continued Growth and Innovation Little Falls, NJ – February 21, 2025 – Scarinci & Hollenbeck, LLC is pleased to announce that Partner Fred D. Zemel has been named Chair of the firm’s Strategic Planning Committee. In this role, Mr. Zemel will lead the committee in identifying, […]
Author: Scarinci Hollenbeck, LLC
Novation Agreement Process: Step-by-Step Guide for Businesses
Big changes sometimes occur during the life cycle of a contract. Cancelling a contract outright can be bad for your reputation and your bottom line. Businesses need to know how to best address a change in circumstances, while also protecting their legal rights. One option is to transfer the “benefits and the burdens” of a […]
Author: Dan Brecher
What Is a Trade Secret? Key Elements and Legal Protections Explained
What is a trade secret and why you you protect them? Technology has made trade secret theft even easier and more prevalent. In fact, businesses lose billions of dollars every year due to trade secret theft committed by employees, competitors, and even foreign governments. But what is a trade secret? And how do you protect […]
Author: Ronald S. Bienstock
What Is Title Insurance? Safeguarding Against Title Defects
If you are considering the purchase of a property, you may wonder — what is title insurance, do I need it, and why do I need it? Even seasoned property owners may question if the added expense and extra paperwork is really necessary, especially considering that people and entities insured by title insurance make fewer […]
Author: Patrick T. Conlon
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
President Obama Announces Cybersecurity Data Privacy Initiatives
Author: Scarinci Hollenbeck, LLC
SOTU Preview: President Obama Will announce Cybersecurity and Data Privacy initiatives
With the support of the business community, President Barack Obama recently announced plans for a uniform data breach notification standard. Obama’s national federal standard was just one of several cybersecurity and data privacy initiatives the President has previewed in advance of his January 20 State of the Union Address.
Most states have data breach notification laws in place, which dictate how private and government entities must notify individuals of data breaches involving personally identifiable information. The federal regulation would replace these laws, which often vary from state to state.
“It’s confusing for consumers and it’s confusing for companies—and it’s costly, too, to have to comply to this patchwork of laws,” the President stated. “Sometimes, folks don’t even find out their credit card information has been stolen until they see charges on their bill, and then it’s too late.”
Under the Personal Data Notification and Protection Act, companies would have to notify consumers of a data breach within 30 days.
The proposed data privacy initiatives and notification legislation would also make it a crime to sell customers’ identities overseas.
As previously discussed on the Scarinci Hollenbeck Business News Blog, the cost of data breaches is on the rise. According to the Ponemon Institute’s 2014 Cost of Data Breach Study, the average cost of a data breach was $3.5 million in 2013, representing a 15 percent increase over 2012 figures. A national standard is expected to lesson the costs of responding to data breaches by allowing companies to develop one response plan that can be implemented across multiple jurisdictions in which they have operations.
For consumers, it should speed up the notification process considerably.
Do you have any feedback, thoughts, reactions or comments regarding Obama’s statements on data privacy initiatives at the State of the Union Address? Feel free to leave a comment below and follow the twitter accounts @@, @