WASHINGTON Jan 27 The U.S. Senate banking panel
has scheduled a subcommittee hearing for next week on
safeguarding consumers' financial information following the
theft of data at retailers such as Target Corp and
Neiman Marcus, the committee said on Monday.
Witnesses at the subcommittee on national security and
international trade and finance hearing next Monday will include
officials from the U.S. Secret Service, the Federal Trade
Commission's Bureau of Consumer Protection, the American Bankers
Association and National Retail Federation, the committee said
in a statement.
A data breach over the holiday shopping season at Target,
the third-largest U.S. retailer, resulted in the theft of about
40 million credit and debit card records and 70 million other
records with customer information such as addresses and
Luxury retailer Neiman Marcus has also disclosed a data
breach that compromised data from about 1.1 million cards.
Michaels Stores Inc, the biggest U.S. arts and crafts
retailer, said it was investigating a possible security breach
on its payment card network.
The incidents have raised the stakes for data security
discussions in Congress and have caused banks and retailers to
argue about whose job it is to protect consumers from cyber
On Monday, the U.S. Consumer Financial Protection Bureau
urged shoppers to monitor their accounts for unauthorized
charges and alert their banks or card providers immediately if
they suspect fraud.