US Senator Bob Menendez (NJ-D), who sits on the Banking, Housing and Urban Affairs, Finance and Foreign Relations committees, apparently wants to use his political power to set the Federal Trade Commission (FTC) on US retailers, most notably, Target!
According to a story by David Madden, which CBS aired on December 27, 2013 (http://philadelphia.cbslocal.com/2013/12/27/nj-senator-menendez-calls-for-increased-consumer-protection/), the Senator wants to ascertain if the retail giant, with over 1,797 stores in the US, and over 361,000 team members worldwide, is practicing safe credit card sales.
As most readers have learned, Target was the target of hackers and suffered a security breach that lasted from Nov. 27 to Dec. 15 and affected customers in Target's U.S. stores.. The exact damage caused by the hackers, at least from the prospective of the consumers whose credit card information may have been compromised, is unclear. However, in most cases, the credit card owners have limited liability for fraudulent charges. Certainly, the costs to Target in damage control, bad public relations and security re-evaluations must be in the $Millions.
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As troubling as the hacking incident is, the actions Menendez is proposing are even more worrisome. Do we need or want more government in our lives and in free enterprise?
Target, like every other retailer, be they a giant or a mom and pop shop, has concerns over how their customers view them. Accordingly, those business concerns do a lot to promote a positive image of their operations. They do not need ‘politicians’ bringing more unwarranted government oversight into their operations and operational costs!
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If Senator Menendez wants to grab some headlines, why not use his position of power to press the federal government to do more to protect consumers and business operators from hackers? Isn’t the primary role of government to protect its citizens and this nations assets? Aren’t giant retailers, like Target, with all they bring into the US job market and economy a valuable asset?
Instead of turning the federal watchdogs loose on corporate businesses who are vulnerable to hackers, why isn’t Menendez calling for the NSA, FBI, and Secret Service, et al, to stop these hackers. Does Menendez really believe private industry can stop these highly sophisticated hackers (who may be sponsored by their government) when our own government websites get attacked on a continuous basis?
Senator Menendez, how secure is the HeathCare.gov (Obamacare) website from hackers?
