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More than half of voters are concerned with data breaches when purchasing goods at a large retailer, according to new Morning Consult survey data, underscoring the need for national data security standards. As the number of retail data breaches increases, consumers continue to place more trust in banks and card companies when it comes to security and innovation. The survey showed there is a 32-point margin between people who trust card companies versus people who trust retailers when it comes to keeping card information secure. Plus, banks and card companies are the only entities a majority of voters place a lot of trust when it comes to the security of their personal information. While financial institutions are subject to the data security requirements set by the Gramm-Leach-Bliley Act (GLBA), there are no similar national standards for retailers. The Electronic Payments Coalition (EPC) has long advocated for national data security standards … Continue reading →