Banks Fear Liability From Obama Cybersecurity Plan

Law360, New York (February 12, 2013, 8:12 PM EST) -- President Barack Obama signed an executive order Tuesday designed to strengthen the nation's cybersecurity, a plan that has prompted concerns from banks and other financial institutions worried that without accompanying legislation, they could face expanded liability for data breaches or information exchanges with regulators, among other issues.

In his State of the Union address Tuesday, President Obama said he had signed the highly anticipated order, set to be formally unveiled Wednesday, and urged Congress to also take action to deter cyberattacks.

The security of key computer...
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