looking for as many articles (at least 5) (web based ) with links that
describe what types and forms of legistlation could be imposed upon
VISA and or M/C because of recent news about hacks and cracks of
consumer data in the ffinancial and information industries. I don't
want articles referring to the fact that additional legistlation is
being considered or may be forthcoming - Im more interested in knowing
what FORMS they may take - ie - posting of bonds or funds, penalties
paid tho consu,ers for a breack or leak of info etc....this would be
great if I could get info on both sides of the table - the issuing of
credit cards - and more impretanty - the acquiring of credit card
transactions at the terminals and online.

---

Request for Question Clarification by pafalafa-ga on 20 Sep 2005 18:27 PDT

I'm afraid there are far too many bills introduced on this topic to
sort through them and provide you the best links on the different
strategies under consideration -- that's just a far bigger job than
can be handled in the confines of a $20 question.

However, there are resources out there which take the first step, and
consolidate legislative information on the topic of identity theft. 
From what I can see, most of the focus is on the companies in the
business f buying and selling consumer databases, rather than the
credit card companies per se.  Still, these are certainly laws that --
if passed -- would have a direct effect on how credit card companies
operate, and what their liabilities are.

Take a look at this site:


http://www.bespacific.com/mt/archives/cat_id_theft.html
ID Theft


and in particular the links at the site to the following articles:


Commerce Committee Leaders Introduce ID Theft Protection Act 

Analysis of Personal Data Privacy and Security Act 

Specter, Leahy Introduce Personal Data Privacy And Security Act Of 2005 

Sen. Feinstein Introduces Notification of Risk to Personal Data Act 

Sen. Schumer Introduces New ID Theft Prevention Legislation

Renewed Calls To Define Policies for Consumer Notification of ID Theft 

State Legislation to Protect Personal Data Hits Roadblocks 

Privacy Act of 2005 

Information Security Breach Legislation Signed by NY Governor 



Does that seem helpful for what you need?

If so, I can answer your question by pointing you to another site with
an active and up-to-date list of federal legislation on this topic.

Let me know if that is of interest to you.

pafalafa-ga

Since no one has answered your question, maybe I can help you get
started.  This (very general) information comes off of Consumer
Financial Services Law Report, Feb. 23, 2005.

Sen. Dianne Feinstein has proposed a three part legislative package
based on California's Database Security Law, Section 1798 of the
California Civil Code, comprising:

1. The Privacy Act - setting out a national standard of privacy
protection and requiring financial services companies to "opt-in"
before their information is shared.

2. The Social Security Number Misuse Prevention Act - regulating how
government agencies and private companies use Social Security numbers.

3. The Notification of Risk to Personal Data Act - requiring
government agencies and private companies to notify individuals when
their information has been compromised.

The California database law also requires companies to notify law
enforcement and immediately restore the integrity of the data, among
other things.  The notification requirement can be allayed if law
enforcement authorities believe immediate compliance will jeopardize
an investigation.  You will need to search thomas.loc.gov under the
current session (109th) for the text of these bills in order to find
out their specific requirements, and you may also want to go to
FindLaw.com or the California legislative website to read the
California statute on which they are based.  Unfortunately I don't
have the bill numbers for Feinstein's bills, which would save you some
time.  Google it.  There may also be proposed amendments, etc., that
you'll need to look out for.  Good luck!