Target Data Breach is Focus of Several Hearings at U.S. Capitol

Updated: 02/03/2014 7:08 AM
Created: 02/03/2014 7:00 AM
By: Jennie Olson

The massive data breach at Target over the holiday season impacted millions of customers. This week, that breach is taking center stage at the nation's capitol.

A series of hearings will discuss what went wrong, and the breach may even spark new laws to protect consumers.

The three hearings will take place over the next three days, each of them with a different committee.

The Senate Banking Subcommittee meeting on Monday will discuss breaches at Target, Neiman Marcus and Michaels. They’ll be asking if these retailers had the right protections in place for customers.

The hearing starts at 3 p.m., and the Secret Service will be there along with the Bureau of Consumer Protection and the Federal Trade Commission. The National Retail Federation is also expected to testify.

Virginia Senator Mark Warner chairs the committee. In a video posted to his website, he says they’ll be looking at a credit card system used in Europe; instead of the magnetic strips you see on your credit and debit cards, there would be a chip installed and a pin number to help increase security.

"This is going to be an evolving field," Warner said. "Technology continues to evolve, but the sophistication of these cyber hackers does also."

Tuesday’s meeting is before a Senate Judiciary Committee, and Target’s Chief Financial Officer has been called to testify.

On Wednesday, representatives from both Target and Neiman Marcus will go in front of a house panel yet again to answer questions about why and how these breaches happened.

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