Bill > S180

This bill amends Chapter 93H of Massachusetts law to enhance the security of personal financial information. Key provisions include: 1. Defining terms like "access device," "breach of security," "encrypted," and "personal information" to provide clarity on the scope of the law. 2. Requiring entities that accept access devices (e.g., credit/debit cards) to not retain certain sensitive data like card security codes and PIN verification codes after the transaction is authorized, or within 48 hours for PIN debit transactions. 3. Requiring entities that experience a security breach to reimburse financial institutions for the costs incurred in protecting affected customers, such as reissuing cards, closing accounts, and notifying customers. 4. Clarifying that the law does not replace existing federal requirements for protecting personal information, but provides a state-level enforcement mechanism for entities that do not comply with applicable federal laws. The aim of this bill is to enhance consumer protection by setting standards for the handling of sensitive financial data and providing recourse for financial institutions when security breaches occur.

Labor and Employment

https://malegislature.gov/Bills/191/S180