Senate Bill 2627

AN ACT TO REQUIRE BANKS TO ENSURE THAT ANY COMPUTER SYSTEM CAPABLE OF PERFORMING OPERATIONS RELATED TO FINANCIAL TRANSACTIONS ORIGINATING FROM, TERMINATING IN, OR PASSING THROUGH A NETWORK LOCATED IN THE STATE STORES ALL IDENTIFYING INFORMATION FOR A CERTAIN PERIOD OF TIME; TO ALLOW ACCOUNT HOLDERS AND COMPUTER SYSTEM OWNERS ACCESS TO THAT DATA UPON REQUEST; TO INSTITUTE A HOLD ON CERTAIN TRANSACTIONS AT THE REQUEST OF AN ACCOUNT HOLDER; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Notwithstanding any other provision of law, a bank shall:

(a) Ensure that any computer system capable of performing operations related to financial transactions originating from, terminating in, or passing through a network located in the State of Mississippi stores all identifying information for the systems involved for at least ninety-six (96) hours;

(b) Allow account holders and computer system owners access to that data upon request; and

(c) Institute a forty-eight-hour hold on the transactions to or from an account that has been targeted by hackers, at the account holder's request.

SECTION 2. This act shall take effect and be in force from and after July 1, 2022.