DMA’s Greco: Latest Data Flap Could Hasten Federal Data Security Law

This week’s revelation that the United Parcel Service “lost” personal data from 3.9 million Citigroup customers—including Social Security numbers and payment histories—was yet the latest in a long line of data security breaches that further erode “the bridge of trust” that Direct Marketing Association president/CEO John A. Greco Jr. had hoped to foster with consumers.

“The furor over data security represents more concern from consumers and more bad press,” said Greco during the June 9 List and Database Council Luncheon held at the Harvard Club in New York.

The result, he said, is impending legislation on Capitol Hill. “It’s not a question of if,” but when new federal regulations will hit. New regulations involving data security could pass as soon as this summer, according to Greco, who reported that as many as six committees are looking at some kind of regulation regarding data security.

As the data security debate rages, Greco assured attendees that the DMA’s policy team is feverishly meeting and working with lawmakers. He spoke of a new five-point plan the association is pushing, one that seeks a national security standard, rather than laws that could vary state by state, that would extend to electronic information.

“We are working with lawmakers to craft a data standard that’s fair and balanced,” Greco said. “Only then will we begin to build a consumer trust.”

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DMA’s Greco: Latest Data Flap Could Hasten Federal Data Security Law

New York–This week’s revelation that the United Parcel Service “lost” personal data from 3.9 million Citibank customers—including Social Security numbers and payment histories—was yet the latest in a long line of data security breaches that further erode “the bridge of trust” that Direct Marketing Association president/CEO John A. Greco Jr. had hoped to foster with consumers.

“The furor over data security represents more concern from consumers and more bad press,” said Greco during the June 9 List and Database Council Luncheon held at the Harvard Club in New York.

The result, he said, is impending legislation on Capitol Hill. “It’s not a question of if,” but when new federal regulations will hit. New regulations involving data security could pass as soon as this summer, according to Greco, who reported that as many as six committees are looking at some kind of regulation regarding data security.

As the data security debate rages, Greco assured attendees that the DMA’s policy team is feverishly meeting and working with lawmakers. He spoke of a new five-point plan the association is pushing, one that seeks a national security standard, rather than laws that could vary state by state, that would extend to electronic information.

“We are working with lawmakers to craft a data standard that’s fair and balanced,” Greco said. “Only then will we begin to build a consumer trust.”

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3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.
Build the Foundation for Great Customer Experiences - NetSuite
Understand how consistent, timely, relevant and personalized experiences are enabled by having the right technology foundation in place.
Strategies for Maximizing Mobile Point-of-Sale Technology - NetSuite
Learn the top five innovative ways to utilize your mobile POS technology to drive customer engagement, increase sales and elevate your brand.