In our digital economy with constant advances in technology, Senator Warner believes it is vitally important to strengthen protections for consumers, businesses and their data. Senator Warner has led efforts to protect consumers from cyber theft, data breaches, as well as unscrupulous business practices, which often target the most vulnerable populations, including student borrowers and military families. 

Cyber and data theft not only impacts the consumers targeted, but can have dire consequences on our economic recovery. Senator Warner remains committed to urging the private sector and government to collaborate to increase smart, targeted consumer protections.

Senator Warner’s Progress:

• Senator Warner introduced the bipartisan Consumer Debit Card Protection Act of 2014, designed to bring debit card consumer protections up to the level of credit cards protections. Debit card use has doubled since 2004, and are now more prevalent than credit cards.  

• Senator Warner introduced legislation requiring banks to more fully disclose hidden feeds often charged for prepaid cards.

• In the wake of the Target data breach, Senator Warner led a Senate Banking Committee hearing to examine whether companies and financial service providers are taking every necessary precaution to protect consumers.

• Ukraine is known to be a haven for cybercrime and many experts have drawn connections between Ukrainian hackers and the Target data breach. Senator Warner introduced a bipartisan amendment to the Ukrainian aid package to establish a law enforcement partnership between the United States and Ukraine to combat cybercrime. 

• Senator Warner called for an investigation into “payroll cards” that some employers use instead of payroll checks or direct deposit. These cards may violate existing consumer regulations, and Senator Warner and colleagues expressed concern in a joint letter.

• Following a letter Senator Warner sent to the Federal Trade Commission, the National Retail Federation announced they will establish an information sharing platform for retail industry, law enforcement, and financial services to more efficiently access information on cybersecurity threats to better protect consumers.

• A National Consumer Law Center report revealed that private companies are taking advantage of student borrowers by deceptively charging exorbitant fees to participate in free federal repayment programs. Senator Warner has urged for investigations of these “debt relief” companies.