Archive for the ‘Obama’ Category

Obama proposal: Hacked companies have 30 days to fess up

In the days ahead, President Obama plans plans to focus on privacy in the digital age.

NEW YORK (CNNMoney)

One proposed law would give a company 30 days to let you know if your personal information -- such as your address or Social Security number -- has been exposed by hackers or careless employees.

The Personal Data Notification & Protection Act is an attempt at a nationwide, uniform rule. Right now, there are 47 different state laws that govern data breaches. Depending on the situation, people in some states get notified, while others are left in the dark. It's a mess.

Data breaches are increasingly common. Last year, hackers broke into Home Depot, Albertson's and so many others that CNNMoney developed its own tool: What hackers know about you.

The president's other proposed law, the Student Digital Privacy Act, is meant to stop the sale of sensitive student data for non-education purposes. Now that students routinely use laptops, tablets and computer programs at school, lots of that data is being collected -- and sometimes sold to advertisers and financial companies.

The fear? That information might be used by money lenders to prey on students -- or by colleges or future employers to judge students unfairly.

"Parents have a legitimate concern about those kinds of practices," Obama said at a midday speech Monday before the Federal Trade Commission. "Our children are growing up in cyberspace."

The president also endorsed the "student privacy pledge" already signed by 75 firms including Apple (AAPL, Tech30) and Microsoft (MSFT, Tech30). It's a promise by companies to only use student data collected at school for education purposes, not observe behavior to target advertisements and not keep data for long.

Obama said any companies that provide school services and don't sign the pledge will be singled out and censured.

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Obama proposal: Hacked companies have 30 days to fess up

Obama wants firms to notify customers within 30 days of data breaches

President Obama on Monday proposed the first federal standard for data breaches, which would require companies to notify customers within 30 days of the discovery that their personal information was exposed to hackers.

In a speech at the Federal Trade Commission, Obama also called for federal protection of information collected from students at school. That proposal, based on a California law enacted last year, would prevent companies from selling student data to third-party firms for purposes unrelated to education, such as sending them targeted advertising.

Obama said the hacking at Sony Pictures Entertainment and large-scale data breaches at major retailers showed the enormous vulnerabilities of the nation and the economy to cyberattacks.

This is a direct threat to the economic security of Americans' families and weve got to stop it, Obama said. If we are going to be connected, then we need to be protected.

The initiatives come as Obama focuses this week on technology issues, including strengthening cyber security and increasing Internet access, that he will tout in his Jan. 20 State of the Union address.

One of his proposals is the Personal Data Notification and Protection Act, which the White House said would "help bring peace of mind to tens of millions of Americans whose personal and financial information has been compromised in a data breach."

Target Corp. and Home Depot Inc.are among the retailers thathave reported large data breaches.

Obama said the proposal to require customer notification of such breaches within 30 days would create a single, strong national standard so consumers know when their information is stolen and make it easier for companies to deal with such hacks.

Currently, a patchwork of state laws govern data breach notification. But some of those laws are tougher than Obamas proposal.

California, for example, requires notification of customers when a company discovers their information has been acquired by unauthorized parties. Companies must make the notification "in the most expedient time possible, without unreasonable delay," a standard many states have.

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Obama wants firms to notify customers within 30 days of data breaches

Is Obama’s free community college program unrealistic? – Video


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Obama to focus on cybersecurity issues next week – Video


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Obama Proposes Free Community College – Video


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Obama Proposes Free Community College - Video