RESOLUTION
WHEREAS, In 2013, approximately 98 million customers of Target stores had personal information compromised in a wide-spread hacking of payment card data, including names, phone numbers, and email address; and
WHEREAS, The United States has fallen behind on credit card fraud prevention compared to other areas ofthe world, where EMV or chip cards, authenticate credit and debit card transactions by generating a unique code for each transaction, making hacking more difficult and ensuring additional layers of security for consumers; and
WHEREAS, identity theft and fraudulent credit card use cost Americans billions of dollars every year; and
WHEREAS, consumers in the City of Chicago and elsewhere in the United States expect privacy and security when conducting transactions, as well as transparency and honesty from businesses when personal information is compromised; and
WHEREAS, the United States Congress has under consideration HR 3990, Personal Data Privacy and Security Act of 2014, to mitigate and prevent identity theft, ensure privacy, provide notice of security breaches, and to enhance criminal penalties, law enforcement assistance, and other protections against security breaches; and
WHEREAS, The City Council believes that passage of HR 3990 will provide consumers in Chicago and around the country enhanced protection and privacy of their personal information, and the issue of credit card fraud and identity theft in the City of Chicago is critical and costly; now therefore
BE IT RESOLVED, The Commissioner ofthe Department of Business Affairs and Consumer Protection, representatives of the Chicago Police Department, and representatives ofthe banking and retail industry are invited to appear before the Committee on Finance to provide information on the subject of fraud prevention and identity security when making credit card transactions; and
BE IT FURTHER RESOLVED, that a suitable copy of this resolution be presented to the Illinois Delegation to th...
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