A bill that places unreasonable mandates on businesses who incur a data breach suddenly saw action last week after sitting dormant for months. Fortunately, the State House adjourned for the holiday break without taking a vote.
The Michigan Chamber understands the financial hardship data breaches have on financial institutions. Additionally, we know that unclear and overly difficult mandates on the private sector are unfair. Because of this, the Michigan Chamber played a lead role in negotiating a compromise that was supported by financial institutions and the larger business community as a whole. Unfortunately, the bill sponsor will not allow the changes required to honor the agreement in the bill.
When the legislature returns in 2020, the Michigan Chamber will get back to work on finding a resolution to this outstanding issue.
For more information, contact Dan Papineau at email@example.com.