1 00:00:03,480 --> 00:00:07,560 Speaker 1: Welcome to the Bloomberg Law Podcast. I'm June Grosso. Every 2 00:00:07,640 --> 00:00:10,440 Speaker 1: day we bring you insight and analysis into the most 3 00:00:10,480 --> 00:00:13,440 Speaker 1: important legal news of the day. You can find more 4 00:00:13,480 --> 00:00:18,040 Speaker 1: episodes of the Bloomberg Law Podcast on Apple Podcasts, SoundCloud, 5 00:00:18,320 --> 00:00:22,439 Speaker 1: and on Bloomberg dot com slash podcasts. It's the Kids 6 00:00:22,520 --> 00:00:27,160 Speaker 1: for the Trump Administration zero in a landmark climate change lawsuit, 7 00:00:27,480 --> 00:00:29,880 Speaker 1: twenty one children and young adults who are suing the 8 00:00:29,960 --> 00:00:34,040 Speaker 1: US government for failing to properly address climate change for decades, 9 00:00:34,320 --> 00:00:37,800 Speaker 1: defeated the Trump administration's latest attempt to kick the dispute 10 00:00:37,840 --> 00:00:41,120 Speaker 1: out of court. The Ninth Circuit denied the government's use 11 00:00:41,159 --> 00:00:44,400 Speaker 1: of a rare procedural move, a writ of mandamus, saying 12 00:00:44,400 --> 00:00:47,640 Speaker 1: it was entirely premature. Joining me is Mary Would, a 13 00:00:47,680 --> 00:00:51,199 Speaker 1: professor at the University of Oregon Law School. Mary, the 14 00:00:51,280 --> 00:00:55,480 Speaker 1: writ of mandamus is rarely used and rarely granted. Tell 15 00:00:55,560 --> 00:00:59,480 Speaker 1: us what the Trump administration was arguing there. Yeah, the 16 00:00:59,520 --> 00:01:03,640 Speaker 1: Trump of illustration was basically pulling out this wild card 17 00:01:03,720 --> 00:01:06,320 Speaker 1: that is rarely used. In fact us called an extraordinary 18 00:01:06,319 --> 00:01:09,679 Speaker 1: and drastic remedy. And what the Trump administration tried to 19 00:01:09,720 --> 00:01:13,920 Speaker 1: do was just skip the normal process of appeal. So generally, 20 00:01:13,959 --> 00:01:17,240 Speaker 1: when trials happened, UM, the party is coming before the 21 00:01:17,280 --> 00:01:22,280 Speaker 1: court and the trial judge issues findings and that process 22 00:01:22,480 --> 00:01:26,800 Speaker 1: m refines the issues and then after that is all completed, 23 00:01:27,480 --> 00:01:30,560 Speaker 1: then either party can take an appeal. But what the 24 00:01:30,600 --> 00:01:33,760 Speaker 1: Trump administration tried to do was say, oh, we want 25 00:01:33,760 --> 00:01:36,440 Speaker 1: to skip all that and we want to go directly 26 00:01:36,480 --> 00:01:38,560 Speaker 1: to the Ninth Circuit. And they couldn't do that through 27 00:01:38,600 --> 00:01:42,000 Speaker 1: the normal feel process, so they pulled out this really 28 00:01:42,040 --> 00:01:45,760 Speaker 1: extraordinary um rid of mandamus, which is just rarely used 29 00:01:45,800 --> 00:01:50,160 Speaker 1: because if you used that very frequently, you would um 30 00:01:50,640 --> 00:01:53,440 Speaker 1: circumvent the entire process that is set up for the 31 00:01:53,600 --> 00:01:58,360 Speaker 1: orderly administration of justice. So what was the Ninth Circuits 32 00:01:58,600 --> 00:02:02,280 Speaker 1: decision based on? What did the courts say about the 33 00:02:02,320 --> 00:02:06,640 Speaker 1: Trump administration's arguments? Yeah, well, the Ninth Circuit um stayed 34 00:02:06,680 --> 00:02:10,000 Speaker 1: really within the lines. I mean, it's a very standard opinion. 35 00:02:10,080 --> 00:02:13,480 Speaker 1: There's just no surprises in it. Um, there are clear 36 00:02:13,600 --> 00:02:17,040 Speaker 1: factors for determining whether this writ should be issued. There's 37 00:02:17,120 --> 00:02:19,760 Speaker 1: five factors that were well settled in the lawn. The 38 00:02:19,919 --> 00:02:21,760 Speaker 1: Ninth Circus said none of them are met. So one 39 00:02:21,800 --> 00:02:24,239 Speaker 1: of them is, you know, does the petitioner. That's the 40 00:02:24,280 --> 00:02:27,680 Speaker 1: Trump administration have any direct appeal. Well, of course they 41 00:02:27,720 --> 00:02:31,040 Speaker 1: do at the end of trial. Um, they have an appeal. Um, 42 00:02:31,120 --> 00:02:34,680 Speaker 1: will the petition be damaged? Um by waiting in a 43 00:02:34,720 --> 00:02:38,320 Speaker 1: way that's not correctable. No, the Trump administration said, oh, 44 00:02:38,520 --> 00:02:40,480 Speaker 1: we do not want to have to go through the 45 00:02:40,560 --> 00:02:44,840 Speaker 1: discovery process, which is a process that lawyers use in 46 00:02:45,080 --> 00:02:48,040 Speaker 1: just out every case to get information from from the 47 00:02:48,040 --> 00:02:50,959 Speaker 1: other side. Um. And the Ninth circuits that will everybody 48 00:02:51,040 --> 00:02:54,480 Speaker 1: goes through the discovery process. That's that's not a reason, 49 00:02:55,080 --> 00:03:02,640 Speaker 1: um to um to to thwart the trial process. So um, yeah, 50 00:03:02,760 --> 00:03:06,200 Speaker 1: did you have another reason there? And then um they said. 51 00:03:06,840 --> 00:03:09,440 Speaker 1: The Trump administration had also said, well, this is a 52 00:03:09,520 --> 00:03:15,000 Speaker 1: very novel issue. The truly, um, climate is a very 53 00:03:15,080 --> 00:03:18,720 Speaker 1: novel threat to the planet. But in terms of the 54 00:03:18,760 --> 00:03:21,160 Speaker 1: process of this case, it was very ordinary. So the 55 00:03:21,160 --> 00:03:24,600 Speaker 1: court rejected virtually all of the Trump administration's arguments. So, 56 00:03:24,720 --> 00:03:27,239 Speaker 1: going to the climate issue, this is the first time 57 00:03:27,280 --> 00:03:31,240 Speaker 1: the federal government is being sued for violating constitutional rights 58 00:03:31,320 --> 00:03:37,400 Speaker 1: because of its climate policies. How ambitious is this case? Well, 59 00:03:37,440 --> 00:03:39,720 Speaker 1: it's a business in the sense that we have a 60 00:03:39,760 --> 00:03:43,560 Speaker 1: climate system cleaning out of control. And it's sort of like, 61 00:03:43,880 --> 00:03:46,880 Speaker 1: if you wanted to make an analogy, Um, John Holden, 62 00:03:47,000 --> 00:03:50,160 Speaker 1: President Obama's science have either said, it's almost as if 63 00:03:50,200 --> 00:03:52,800 Speaker 1: you're in a car with bad breaks driving towards the 64 00:03:52,800 --> 00:03:55,720 Speaker 1: cliffs in the fog. And what's happened now is we've 65 00:03:55,760 --> 00:03:58,400 Speaker 1: got a driver in the car, President Trump, that is 66 00:03:58,480 --> 00:04:01,880 Speaker 1: pressing his foot down on the ccelerator. And the question 67 00:04:01,920 --> 00:04:04,440 Speaker 1: is do we want a police officer to pull that 68 00:04:04,520 --> 00:04:07,680 Speaker 1: car over before it's too late, before we plunge over 69 00:04:07,720 --> 00:04:09,760 Speaker 1: this climate cliff. So if you want to think of 70 00:04:09,800 --> 00:04:11,920 Speaker 1: the courts in this way, it's said, it's sort of 71 00:04:12,520 --> 00:04:17,320 Speaker 1: akin to that. The writ of man Damis caused a 72 00:04:17,480 --> 00:04:21,239 Speaker 1: six month delay in this case. And the UN former 73 00:04:21,279 --> 00:04:23,480 Speaker 1: Climate chief came out in Gin and just about when 74 00:04:23,520 --> 00:04:25,880 Speaker 1: this word of man Damis petition was biled and said, 75 00:04:26,320 --> 00:04:29,520 Speaker 1: with other scientists, we only have three years to start 76 00:04:29,640 --> 00:04:33,120 Speaker 1: pushing down this carbon emissions curve. Otherwise it's going to 77 00:04:33,160 --> 00:04:36,840 Speaker 1: be too late. We're gonna go into these irrevocable thresholds. 78 00:04:36,880 --> 00:04:40,039 Speaker 1: So in terms of the um consequences of this case, 79 00:04:40,080 --> 00:04:42,840 Speaker 1: I can't imagine a bigger case on the planet. In 80 00:04:42,960 --> 00:04:46,000 Speaker 1: terms of the particular legal issue in front of the court. 81 00:04:46,040 --> 00:04:51,960 Speaker 1: It was just a routine sort of disposition of a 82 00:04:52,040 --> 00:04:56,440 Speaker 1: judicial process issue. Now let's talk about if the Trump 83 00:04:56,480 --> 00:04:59,880 Speaker 1: administration doesn't appeal this to the full nine Circuit or 84 00:05:00,040 --> 00:05:02,800 Speaker 1: to the Supreme Court, it will go into the discovery phase. 85 00:05:03,440 --> 00:05:06,680 Speaker 1: And plaintiffs are claiming that for more than fifty years, 86 00:05:07,120 --> 00:05:10,600 Speaker 1: the Office of the President and eight federal agencies promoted 87 00:05:10,640 --> 00:05:16,120 Speaker 1: regulations to support the energy industries proliferation of fossil fuels. 88 00:05:16,160 --> 00:05:19,200 Speaker 1: Are they going to be able to get documents dating 89 00:05:19,320 --> 00:05:24,560 Speaker 1: back to Lyndon Johnson's presidency, Well, you and I could 90 00:05:24,560 --> 00:05:27,359 Speaker 1: get those documents. Um. Many of the documents are already 91 00:05:27,400 --> 00:05:32,440 Speaker 1: public record, and so um they have documents spanning several 92 00:05:32,480 --> 00:05:34,400 Speaker 1: decades that you and I can just get hold of 93 00:05:34,440 --> 00:05:38,040 Speaker 1: by browsing the Internet. So a lot of the information 94 00:05:38,080 --> 00:05:41,279 Speaker 1: is already public um. But there's still probably discovery that 95 00:05:41,320 --> 00:05:45,880 Speaker 1: the attorneys want um um to pursue other matters. Um 96 00:05:46,000 --> 00:05:47,960 Speaker 1: that that I do want to underscore that this has 97 00:05:47,960 --> 00:05:51,000 Speaker 1: been well known for decades and government has pursued this 98 00:05:51,120 --> 00:05:54,520 Speaker 1: fossil fuel policy knowing that it would bring us to 99 00:05:54,560 --> 00:05:57,600 Speaker 1: the brink of disaster. The problem for us is that 100 00:05:57,680 --> 00:05:59,760 Speaker 1: we are at that brink right now, we happen to 101 00:05:59,800 --> 00:06:04,200 Speaker 1: be the people living right now whom were um you know, 102 00:06:04,240 --> 00:06:08,240 Speaker 1: predicted many days, many decades ago to have these consequences, 103 00:06:08,320 --> 00:06:11,239 Speaker 1: and so the predictions are now turning into our actual 104 00:06:11,320 --> 00:06:15,680 Speaker 1: reality now where they're entering the discovery phase. The plantiffs 105 00:06:15,680 --> 00:06:20,000 Speaker 1: attorney has said she wants depositions from many representatives of 106 00:06:20,040 --> 00:06:23,960 Speaker 1: top federal agencies they had earlier sawt the testimony of 107 00:06:24,040 --> 00:06:28,200 Speaker 1: Rex Tillerson. How difficult is it going to be for 108 00:06:28,320 --> 00:06:33,160 Speaker 1: the judge to make these determinations? Well, judges are just 109 00:06:33,760 --> 00:06:37,719 Speaker 1: very well versed in discovery processes. The judges in this 110 00:06:37,920 --> 00:06:41,000 Speaker 1: case as to the magistrate and then um Federal District 111 00:06:41,200 --> 00:06:44,520 Speaker 1: Judge Aiken, and they deal with discovery matters all the 112 00:06:44,600 --> 00:06:48,400 Speaker 1: time in cases against government. So UM, it's really not 113 00:06:48,920 --> 00:06:51,560 Speaker 1: uh not something out of the ordinary to try to 114 00:06:51,600 --> 00:06:55,400 Speaker 1: get depositions against agency people. And the judges are just 115 00:06:55,760 --> 00:07:00,640 Speaker 1: very accustomed to managing the discovery process. So we'll see 116 00:07:00,680 --> 00:07:04,960 Speaker 1: where that goes. Um. When Rex Tillerson, Um, when the 117 00:07:04,960 --> 00:07:09,080 Speaker 1: plane's wanted to depose him, that wasn't his capacity, um, 118 00:07:09,240 --> 00:07:13,960 Speaker 1: his priority pacity. As with the American patrollingmist that wasn't 119 00:07:14,200 --> 00:07:18,080 Speaker 1: in his capacity as um, you know, head of Department State. Yeah, 120 00:07:18,720 --> 00:07:22,400 Speaker 1: so we've a got a minute here, Mary. If the 121 00:07:22,640 --> 00:07:26,760 Speaker 1: Trump administration, as some expect, it will ask the Supreme 122 00:07:26,840 --> 00:07:30,080 Speaker 1: Court to review this recent decision by the Ninth Circuit. 123 00:07:30,600 --> 00:07:33,160 Speaker 1: Do you believe that the court would take that case 124 00:07:34,520 --> 00:07:38,360 Speaker 1: not this decision? I don't this. This decision operates so 125 00:07:38,760 --> 00:07:41,880 Speaker 1: well within the lines, so narrow. I really can't see 126 00:07:41,920 --> 00:07:46,200 Speaker 1: any appealable issue on it at all. Um. So what 127 00:07:46,240 --> 00:07:48,960 Speaker 1: it would cause is delay if there were a stay 128 00:07:48,960 --> 00:07:52,320 Speaker 1: imposed on the discovery process. But right now the parties 129 00:07:52,360 --> 00:07:54,520 Speaker 1: are going to head with discovery and they're going to 130 00:07:54,560 --> 00:07:56,800 Speaker 1: go ahead and schedule a trial and there's no stay. 131 00:07:56,840 --> 00:08:00,760 Speaker 1: So UM, I fully expect a trial. All right, Thanks 132 00:08:00,800 --> 00:08:03,280 Speaker 1: so much for being here. That's Mary Wood. She's a 133 00:08:03,320 --> 00:08:11,000 Speaker 1: professor at the University of Oregon Law School. Just after 134 00:08:11,040 --> 00:08:14,800 Speaker 1: a data breach at Equifax exposed nearly one fifty million 135 00:08:14,840 --> 00:08:18,880 Speaker 1: Americans to the threat of identity theft, Senator Elizabeth Warren 136 00:08:18,920 --> 00:08:22,480 Speaker 1: grilled the company's former CEO, Richard Smith about the hack. 137 00:08:22,920 --> 00:08:26,320 Speaker 1: Because of this breach, consumers will spend the rest of 138 00:08:26,400 --> 00:08:30,240 Speaker 1: their lives worrying about identity theft. Small banks and credit 139 00:08:30,360 --> 00:08:33,440 Speaker 1: unions will have to pay to issue new credit cards. 140 00:08:33,679 --> 00:08:37,920 Speaker 1: Businesses will lose money to thieves, but Equifax will be 141 00:08:38,080 --> 00:08:42,400 Speaker 1: just fine. Heck, it could actually come out ahead. But now, 142 00:08:42,480 --> 00:08:45,960 Speaker 1: in the wake of Equifax and several other high profile hacks, 143 00:08:46,160 --> 00:08:50,200 Speaker 1: American banks and retailers are fighting over whether financial firms 144 00:08:50,200 --> 00:08:54,240 Speaker 1: should follow a new national standard to quickly notify consumers 145 00:08:54,240 --> 00:08:57,160 Speaker 1: when they've experienced a data breach. Joining us from our 146 00:08:57,160 --> 00:09:01,400 Speaker 1: Bloomberg studios in Washington, isn't only Nick s Bloomberg News 147 00:09:01,480 --> 00:09:05,840 Speaker 1: Corporate Influence reporter Naomi tell us more about this House 148 00:09:05,960 --> 00:09:10,120 Speaker 1: bill and why it would end up exempting Equifax from 149 00:09:10,200 --> 00:09:15,640 Speaker 1: new requirements. Yes, well, essentially, Representative Blaine Luca Meyer has 150 00:09:15,760 --> 00:09:21,480 Speaker 1: drafted a proposed bill UH that would essentially target retail 151 00:09:21,600 --> 00:09:25,960 Speaker 1: groups UH businesses that are not part of the financial 152 00:09:26,000 --> 00:09:30,439 Speaker 1: industry to issue a national standard for when and under 153 00:09:30,440 --> 00:09:33,400 Speaker 1: what circumstances they have to notify consumers as well as 154 00:09:33,480 --> 00:09:36,559 Speaker 1: law enforcements that there has been a data breach. Now, 155 00:09:36,600 --> 00:09:39,960 Speaker 1: the thinking goes that Equifax and these other banks don't 156 00:09:40,000 --> 00:09:43,480 Speaker 1: need to be part of this proposed legislation because they 157 00:09:43,559 --> 00:09:48,079 Speaker 1: already have a regulatory framework governing data breaches that they 158 00:09:48,080 --> 00:09:51,720 Speaker 1: have to adhere to, and of course not everyone agrees 159 00:09:51,800 --> 00:09:55,440 Speaker 1: with that idea. Also, I was just checking uh the 160 00:09:55,480 --> 00:09:58,960 Speaker 1: story in the terminal about this uh this uh Dodd 161 00:09:59,040 --> 00:10:02,520 Speaker 1: Frank bill reform bill that is in the Senate right now, 162 00:10:02,720 --> 00:10:06,400 Speaker 1: and there's a provision in there that that also covers Equifax. 163 00:10:06,880 --> 00:10:10,120 Speaker 1: Um an amendment from Chairman Crapo the Banking Committee that 164 00:10:10,120 --> 00:10:13,840 Speaker 1: says it would require Equifax and competitors to provide create 165 00:10:13,880 --> 00:10:17,679 Speaker 1: free credit monitoring to some consumers after a breach. Is 166 00:10:17,720 --> 00:10:21,679 Speaker 1: that all wrapped into this? Yeah, Well, there's there's been 167 00:10:21,760 --> 00:10:24,200 Speaker 1: several there's definitely a lot of energy on the Hill 168 00:10:24,280 --> 00:10:27,800 Speaker 1: from lawmakers to attack this issue. There has been from 169 00:10:27,840 --> 00:10:30,800 Speaker 1: a long time. So we've seen a few different proposals 170 00:10:30,840 --> 00:10:34,280 Speaker 1: crop up. Um. Uh that that that's part of it 171 00:10:34,320 --> 00:10:37,440 Speaker 1: doesn't surprise me. Um. The one that there appeared to 172 00:10:37,440 --> 00:10:40,280 Speaker 1: be very energized and fighting over is this is this 173 00:10:40,880 --> 00:10:45,680 Speaker 1: represented luken Meyer's proposal and Naomi, are there any teeth 174 00:10:45,840 --> 00:10:50,400 Speaker 1: to these proposals? Any penalties? Mean? Equifax has been sailing 175 00:10:50,480 --> 00:10:53,640 Speaker 1: by and just last week reported again that there were 176 00:10:53,679 --> 00:10:55,520 Speaker 1: that there were more people that it hadn't been able 177 00:10:55,520 --> 00:11:00,280 Speaker 1: to identify. Yes, well, and that's and that's one part 178 00:11:00,440 --> 00:11:07,000 Speaker 1: of the discussion. UM Essentially if H Lucamyer's proposal essentially 179 00:11:07,040 --> 00:11:11,720 Speaker 1: calls for UH these organizations and businesses to identify not 180 00:11:11,760 --> 00:11:14,800 Speaker 1: only that there's been a breach, but that there's potential 181 00:11:14,880 --> 00:11:18,000 Speaker 1: harm to consumers identity theft. There are some people who 182 00:11:18,000 --> 00:11:20,559 Speaker 1: think that doesn't go far enough. They think they should 183 00:11:20,559 --> 00:11:23,880 Speaker 1: be required to notify consumers listen as there is a breach. 184 00:11:24,120 --> 00:11:27,439 Speaker 1: They think there should be a time limit on it 185 00:11:27,559 --> 00:11:31,800 Speaker 1: when they have to UH to notify consumers as well 186 00:11:31,840 --> 00:11:34,720 Speaker 1: as law enforcement. UM. And so this isn't the strongest 187 00:11:34,760 --> 00:11:37,600 Speaker 1: proposal out there. In fact, there's forty eight states that 188 00:11:37,640 --> 00:11:40,800 Speaker 1: already have their own proposals, and some of them go 189 00:11:40,960 --> 00:11:47,720 Speaker 1: much further. What about recourse for consumers and for for 190 00:11:47,800 --> 00:11:50,679 Speaker 1: others in case there are future data breaches? What what 191 00:11:50,760 --> 00:11:55,960 Speaker 1: recourse will they would they have in this Lukamer bill? Well, UM, 192 00:11:56,080 --> 00:11:59,600 Speaker 1: the this is UH you know, the FTC would be 193 00:12:00,200 --> 00:12:03,679 Speaker 1: the enforcer of this, and so they could obviously go 194 00:12:03,800 --> 00:12:08,080 Speaker 1: that row in the FTC can investigate and UM decide 195 00:12:08,600 --> 00:12:11,280 Speaker 1: UH you know what what sorts of penalties there could be. 196 00:12:12,520 --> 00:12:16,520 Speaker 1: And as far as this bill does, it have any 197 00:12:16,720 --> 00:12:20,760 Speaker 1: better chance of passing than other bills. I mean, lawmakers 198 00:12:20,800 --> 00:12:24,360 Speaker 1: have tried to pass national data breach notification laws for years, 199 00:12:24,400 --> 00:12:27,160 Speaker 1: and this one seems to have a lot of opposition 200 00:12:27,280 --> 00:12:33,120 Speaker 1: from consumer advocates. Well, there is some energy right now 201 00:12:34,000 --> 00:12:37,040 Speaker 1: because of the Equifax breach, and not only Equifax, there's 202 00:12:37,040 --> 00:12:39,440 Speaker 1: been breaches at Yahoo. There's been breaches that Uber. They've 203 00:12:39,440 --> 00:12:43,920 Speaker 1: made the news. There is interest among lawmakers for passing 204 00:12:44,280 --> 00:12:46,640 Speaker 1: such a bill. Now, whether they'll be able to get 205 00:12:46,640 --> 00:12:50,640 Speaker 1: through the gridlock of Washington and resolve these disputes between 206 00:12:50,679 --> 00:12:54,040 Speaker 1: the bankers, the retailers, and the consumer groups remains an 207 00:12:54,040 --> 00:12:57,439 Speaker 1: open question. UM, But I wouldn't rule it out completely 208 00:12:58,160 --> 00:13:00,559 Speaker 1: and nail me. As far as the timing of all this, UM, 209 00:13:01,200 --> 00:13:04,400 Speaker 1: there doesn't have anything to do with something that's happening 210 00:13:05,040 --> 00:13:08,400 Speaker 1: coming up this November. You know, there's what there's oh yeah, 211 00:13:09,320 --> 00:13:11,880 Speaker 1: term elections for Congress, and this is an issue that 212 00:13:13,720 --> 00:13:17,760 Speaker 1: voters just asking it. I mean, it is an issue 213 00:13:17,840 --> 00:13:22,360 Speaker 1: that consumers obviously care about. UM, and tackling this issue 214 00:13:22,400 --> 00:13:27,000 Speaker 1: would obviously help anyone in the midterm elections. Uh. It 215 00:13:27,000 --> 00:13:29,160 Speaker 1: should be noted that this is a fight that's happening 216 00:13:29,160 --> 00:13:31,880 Speaker 1: before the bill has even been introduced. UM, and so 217 00:13:31,960 --> 00:13:35,560 Speaker 1: there's definitely energized communities on the banker side and on 218 00:13:35,600 --> 00:13:38,160 Speaker 1: the retailer side and consumer sides that will be watching 219 00:13:38,160 --> 00:13:43,120 Speaker 1: it very closely. Who are the just about us here, 220 00:13:43,320 --> 00:13:47,320 Speaker 1: Who are the toughest lobbying groups out there on this well, 221 00:13:47,720 --> 00:13:51,760 Speaker 1: you know, UM, the National Retail Federation is a group 222 00:13:51,800 --> 00:13:54,560 Speaker 1: that they launched an advertising camp paying around that. They've 223 00:13:54,600 --> 00:13:58,679 Speaker 1: been very vocal about their opposition. You know, they think 224 00:13:58,760 --> 00:14:02,559 Speaker 1: that any national any bill that establishes a national standard 225 00:14:02,800 --> 00:14:06,880 Speaker 1: for data breach notification, should include the banks. UM. On 226 00:14:06,920 --> 00:14:09,680 Speaker 1: the other side, you have the American Bankers Association, which 227 00:14:09,720 --> 00:14:13,440 Speaker 1: is also you know, been vocal about, you know, saying, 228 00:14:13,559 --> 00:14:16,120 Speaker 1: we already have regulations that we have to follow, and 229 00:14:16,160 --> 00:14:19,800 Speaker 1: in fact they're stricter, um and tougher than the ones 230 00:14:19,840 --> 00:14:23,560 Speaker 1: that retailers currently follow. UM. And so you know, those 231 00:14:23,560 --> 00:14:26,960 Speaker 1: are those are two big organizations, and they have formed 232 00:14:27,000 --> 00:14:31,880 Speaker 1: their own coalitions around these issues, and so UM, you know, 233 00:14:31,960 --> 00:14:34,600 Speaker 1: they will definitely continue to be watching this issue and 234 00:14:34,640 --> 00:14:39,040 Speaker 1: continue will as you will as well. Naomi, Thanks so much. 235 00:14:39,040 --> 00:14:42,680 Speaker 1: That's Naomi Nick, Bloomberg News Corporate Influence reporter. Thanks for 236 00:14:42,760 --> 00:14:46,000 Speaker 1: listening to the Bloomberg Law Podcast. You can subscribe and 237 00:14:46,080 --> 00:14:49,320 Speaker 1: listen to the show on Apple Podcasts, SoundCloud, and on 238 00:14:49,400 --> 00:14:54,120 Speaker 1: bloomberg dot com slash podcast. I'm June Brolso this is 239 00:14:54,160 --> 00:14:54,760 Speaker 1: Bloomberg