Washington has enacted a statute, which we first discussed in a prior blog post, to provide financial institutions with a cause of action against certain entities involved in payment card transactions that fail to take reasonable care to guard against unauthorized access to account information where that failure is found to be the proximate cause of the breach. The law goes into effect on July 1, 2010.
For more information about how the new law applies to businesses, processors and vendors, please reference the Kelley Drye Client Advisory.