Banks battle retailers over proposal to disclose consumer hacks

As hacks soar, tech honchos are the first to get fired, and then rehired (Dreamstime/TNS)

American banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they’ve experienced a data breach. 

Equifax Inc said last week that it would notify an additional 2.4 million consumers who were hacked during its massive data breach in 2017 – but a draft of a House bill with bipartisan support would exempt the credit-reporting agency from the new requirements.