Unpacking the Minnesota Plastic Card Security Act of 2007: A Detailed Analysis

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Summary:

Minnesota's Plastic Card Security Act of 2007 is a legislation aimed at protecting consumers from unauthorized use of their credit and debit cards. The primary objective is to safeguard electronically stored information and establish protocols for prompt action in case of a data breach. Key features include the prohibition of storing sensitive information beyond 48 hours after a transaction has been authorized, with penalties for non-compliance. The legislation is enforced through a combination of fines and legal proceedings, and gives consumers the right to pursue damages in the case of a data breach. Overall, the act sets forth stringent guidelines for data storage and offers punitive measures for non-compliance, elevating the standard of consumer protection in Minnesota.