Scarinci Hollenbeck, LLC
The Firm
201-896-4100 info@sh-law.comFirm Insights
President Obama Announces Cybersecurity Data Privacy Initiatives
Author: Scarinci Hollenbeck, LLC
Date: January 15, 2015
Key Contacts
Back
SOTU Preview: President Obama Will announce Cybersecurity and Data Privacy initiatives
With the support of the business community, President Barack Obama recently announced plans for a uniform data breach notification standard. Obama’s national federal standard was just one of several cybersecurity and data privacy initiatives the President has previewed in advance of his January 20 State of the Union Address.
Most states have data breach notification laws in place, which dictate how private and government entities must notify individuals of data breaches involving personally identifiable information. The federal regulation would replace these laws, which often vary from state to state.
“It’s confusing for consumers and it’s confusing for companies—and it’s costly, too, to have to comply to this patchwork of laws,” the President stated. “Sometimes, folks don’t even find out their credit card information has been stolen until they see charges on their bill, and then it’s too late.”
Under the Personal Data Notification and Protection Act, companies would have to notify consumers of a data breach within 30 days.
The proposed data privacy initiatives and notification legislation would also make it a crime to sell customers’ identities overseas.
As previously discussed on the Scarinci Hollenbeck Business News Blog, the cost of data breaches is on the rise. According to the Ponemon Institute’s 2014 Cost of Data Breach Study, the average cost of a data breach was $3.5 million in 2013, representing a 15 percent increase over 2012 figures. A national standard is expected to lesson the costs of responding to data breaches by allowing companies to develop one response plan that can be implemented across multiple jurisdictions in which they have operations.
For consumers, it should speed up the notification process considerably.
Do you have any feedback, thoughts, reactions or comments regarding Obama’s statements on data privacy initiatives at the State of the Union Address? Feel free to leave a comment below and follow the twitter accounts @@, @
- Locations: Red Bank, NJ, Little Falls, NJ, New York City
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Related Posts
See all
When Are New Jersey Business Owners Personally Liable for Corporate Debt?
New Jersey personal guaranty liability is a critical issue for business owners who regularly sign contracts on behalf of their companies. A recent New Jersey Supreme Court decision provides valuable guidance on when a business owner can be held personally responsible for a company’s debt. Under the Court’s decision in Extech Building Materials, Inc. v. […]
Author: Charles H. Friedrich
Commercial Real Estate Trends to Watch in 2026
Commercial real estate trends in 2026 are being shaped by shifting economic conditions, technological innovation, and evolving tenant demands. As the market adjusts to changing interest rates, capital flows, and workplace models, investors, owners, tenants, and developers must understand how these trends are influencing opportunities and risk in the year ahead. Overall Outlook for Commercial […]
Author: Michael J. Willner
One Big Beautiful Bill: New Tip Income Tax Rules Employers & Workers Need to Know
Part 2 – Tips Excluded from Income Certain employees and independent contractors may be eligible to deduct tips from their income for tax years 2025 through 2028 under provisions included in the One Big Beautiful Bill. The deduction is capped at $25,000 per year and begins to phase out at $150,000 of modified adjusted gross […]
Author: Scott H. Novak
One Big Beautiful Bill: New Overtime Tax Rules Employers and Employees Need to Know
Part 1 – Overtime Pay and Income Tax Treatment Overview This Firm Insights post summarizes one provision of the “One Big Beautiful Bill” related to the tax treatment of overtime compensation and related employer wage reporting obligations. Overtime Pay and Employee Tax Treatment The Fair Labor Standards Act (FLSA) generally requires that overtime be paid […]
Author: Scott H. Novak
New York’s FAIR Business Practices Act: What the New Consumer Protection Measure Means for Your Business
In 2025, New York enacted one of the most consequential updates to its consumer protection framework in decades. The Fostering Affordability and Integrity through Reasonable Business Practices Act (FAIR Act) significantly expands the scope and strength of New York’s long-standing consumer protection statute, General Business Law § 349, and alters the compliance landscape for New York […]
Author: Dan Brecher
How to Reduce Legal Risk as Your New Jersey Business Grows in 2026
For many New Jersey businesses, growth is a primary objective for the New Year. However, it is important to recognize that growth involves both opportunity and risk. For example, business expansion often results in complex contracts, an increased workforce, new regulatory requirements, and heightened exposure to disputes. Without proactive planning, even routine growth can lead […]
Author: Ken Hollenbeck
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.