Update – June 18: Details are emerging this weekend of a very large scale data breach of credit card data at a transaction processing center affecting some 40 million files. More details are available at the Washington Post and the NY Times.
Yesterday the Senate Commerce, Science & Transportation Committee held a hearing on identity theft. Senators heard testimony from, among others, Senators Schumer and Feinstein, the attorney general of Vermont, and each Federal Trade Commissioner (Deborah Platt Majoras , Orson Swindle, Thomas B. Leary, Pamela Jones Harbour, and Jon Leibowitz).
In his statement, Sen. Schumer described the numerous calls that his office and others are receiving currently from constituents on identity theft concerns, and he described how legislation that he has introduced with Sen. Nelson would empower consumers to cope with ID theft, better protect personal information, and provide for consumer notification in the event of data breaches. He also stated that, in light of the recent Citigroup data loss, language has been added to his bill to require that data in such transfers be encrypted.
EPIC has a good write-up of the hearing in their latest newsletter.