Congress to Scrutinize Credit Card Data Breaches

The House Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Sue W. Kelly (NY), will be holding a hearing this Thursday, July 21 to continue the Committee’s investigation of personal data breaches and data security.

The hearing, which is entitled Credit Card Data Processing: How Secure Is It, will focus on data security gaps in the credit card transaction process. At issue is the integrity of the mechanisms in place at the time of a breach such as the high-profile cases that have been reported recently and the allocation of responsibility for maintaining data security throughout the credit card payment system.

Subcommittee Chairwoman Kelly said, “Consumers everywhere deserve to know for certain that their credit card accounts are safe and secure as they are processed. This hearing will help us learn more about the troubling breach by CardSystems as we develop ways to make sure this is an anomaly that will never be repeated.”

Scheduled to testify are:

• Joshua L. Peirez, Senior Vice President & Associate General Counsel, Law Department, Mastercard International
  
• Steve Ruwe, Executive Vice President, Operations & Risk Management, Visa U.S.A.
  
• Zyg Gorgol, Senior Vice President, Fraud Risk Management, American Express
  
• Carlos Minetti, Executive Vice President, Cardmember Services, Discover Card
  
• David B. Watson, Chairman, Merrick Bank
  
• Mallory Duncan, General Counsel, National Retail Federation
  
• John M. Perry, President and Chief Executive Officer, CardSystems Solutions
  
• Evan Hendricks, Editor and Publisher, Privacy Times