The Senate Finance Committee on Friday approved legislation aimed at protecting the personal information of consumers. The Chamber originally raised concerns that the bill went to far. The Finance Committee, however, amended the bill to deal with two of the Chamber’s main concerns. The Chamber is thankful that the committee acted on the feedback from the business community to produce a bill that enhances the protection of consumer information, without overreaching or subjecting businesses to needless lawsuits.

• The committee amended the definition of “personal information” making it more manageable. The definition was initially too broad and would have included customer signatures.
• The committee also removed the provision that would have subjected businesses to individual lawsuits, fines and attorney’s fees from individuals under the Consumer Protection Act.
• The committee also adopted amendments to exempt all businesses with less than $1 million in gross income, and to allow businesses that already complying with the similar requirements of a state or federal regulator to follow the guidelines established by that regulator — ex. banks and insurance companies.

Now, if only they’d set the same standards for state and local governments.

More Information:
Maryland Chamber Position Statement (PDF)
The Daily Record: ID theft bill gets nod from biz, committee