N.M. ID theft protection bill tabled in Senate
ALBUQUERQUE, N.M. (3/19/15)--The New Mexico State Senate Judiciary Committee voted to table a bill designed to help protect consumers from identity theft by requiring merchants to safely store and dispose of personal data.
The bill also would have required merchants to notify consumers within 45 days of discovering that personal data has been breached.
"This means the door is open for another year for New Mexicans to be prey to fraudsters," Paul Stull, president/CEO of the Credit Union Association of New Mexico (CUANM), told the Albuquerque Business Journal (March 17).
With strong support from CUANM, HB 217 passed through two committees in the New Mexico House, received unanimous support on the House floor and in the Senate Corporations and Transportation Committee before it was tabled in the Senate Judiciary Committee.
Under the proposed legislation, if more than 1,000 citizens are affected by a data breach, the merchant involved would be required to alert both the New Mexico attorney general's office and the major credit reporting agencies within 14 days (News Now Feb. 9).
CUNA continues to press lawmakers to pass legislation that would require merchants to meet the same strict payment data security standards required of financial institutions.