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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 (Bob) MenendezJustice Dept intends to re-try Menendez in corruption case DACA is neither bipartisan nor in America's interest Senate DACA deal picks up GOP supporters MORE (N.J.), Chuck SchumerCharles (Chuck) Ellis SchumerGOP lawmaker: Dems not standing for Trump is 'un-American' Trump called for unity — he didn’t even last a week Overnight Defense: GOP plays hardball by attaching defense funding to CR | US reportedly drawing down in Iraq | Russia, US meet arms treaty deadline | Why the military wants 6B from Congress MORE (N.Y.) and Mark WarnerMark Robert WarnerRegulators push for 'coordinated' approach to bitcoin trading House funding bill includes bipartisan Medicare reforms Overnight Tech: Mulvaney reportedly froze Equifax hack probe | Dems want new restrictions on Comcast-NBC | NJ gov signs net neutrality order | Senate confirms patent chief 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.