In response to the data breach experienced by Target and then Neiman Marcus, the U.S. Senate banking panel has scheduled a subcommittee hearing for next week to discuss the safety of consumer financial data.  Michaels Stores, Inc. is currently investigating a possible breach of consumer data.  Millions of Americans have been affected and the U.S. Consumer Financial Protection Bureau has advised consumers to monitor their accounts for fraud.  Retailers and banks are left to argue who is responsible for safeguarding consumer data.

For the full story read, “U.S. Senate subcommittee sets hearing on consumer data security.”