SACRAMENTO, Calif. — California is poised to become the second state in the country to have a law in place that would move the card industry's data standards into state law. The law would also provide card issuers a way to recover losses from when retailers in violation of data security standards have breaches.
Minnesota passed a similar law earlier this year. Other state initiatives to pass similar legislation have all failed, generally for having run out of time before their legislative deadlines.
The bill is now on Governor Schwarzenegger's desk where many expect it will be signed. However the California Credit Union League is not taking the signature for granted and has kept lobbying to support it.
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