Dems call for hearings in wake of Target data theft

A trio of Democratic senators are calling for congressional hearings into the massive data breach at Target retail stores.

In a letter to the heads of the Senate Banking Committee, they said that the illicit access of credit and debit card data for roughly 40 million Americans nationwide proves the need for a prompt Washington inquiry into the safety of consumer financial data. Sens. Robert MenendezRobert MenendezSteve Mnuchin, foreclosure king, now runs your US Treasury Senate Dems move to nix Trump's deportation order Senators to Trump: We support additional Iran sanctions MORE (N.J.), Chuck SchumerCharles SchumerWith no emerging leaders, no clear message, Democrats flounder Gorsuch hearings: A referendum on Originalism and corporate power We must act now and pass the American Health Care Act MORE (N.Y.) and Mark WarnerMark WarnerOvernight Cybersecurity: House Intel chair says surveillance collected on Trump transition team Dem senator: House Intel chairman may have revealed classified info Dem senator wants Manafort to testify before Intelligence Committee MORE (Va.), all members of that panel, signed on to the letter.

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“As companies collect, store, and process ever-greater quantities of consumer data, they — and our regulators — must become even more vigilant against breaches and improper use,” they wrote.

Target announced earlier this month that millions of Americans’ financial data was compromised after a massive data breach spanning much of the holiday shopping season.

The senators said the event should drive questions from Congress about whether companies are taking all the needed steps to protect customer information, and whether lawmakers need to consider passing stricter cybersecurity standards. 

They also want to hear from financial regulators on what tools they have to fight such tech-savvy thieves, and how they are working with financial companies to fight such breaches, and minimize any resulting damage.