ABA to retailers: Focus on protecting customer data

Right now, federal policymakers are debating how best to protect consumer data from hackers, a discussion that is long overdue. The House Small Business Committee will convene their second hearing today on the major security upgrade that the financial services industry is bringing to payment cards. Our industry is proud of this upgrade, but more needs to be done, especially by other industries that customers entrust with their personal data. The bottom line: retailers need to focus on protecting their customers’ data before it gets breached.