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Velázquez Pens Letter to Capital One in Wake of Small Business Data Hack

Washington, July 31, 2019

Washington, D.C.— Today, House Small Business Committee Chairwoman Rep. Nydia M. Velázquez (D-NY) wrote to Capital One CEO Richard Fairbank, seeking more information on how the company’s recent data breach will affect small business owners and what efforts the company is taking to mitigate the impact on these small firms.

The letter comes on the heels of a massive data breach that affected approximately 100 million individuals in the United States. Most of the compromised information belonged to small business owners who had submitted credit card applications.

“This breach is alarming because it could inflict financial losses to millions of small business owners in a variety of industries across the country. Additionally, Capital One, as a provider of Small Business Administration 504 loans and 7(a) loans, has a duty to protect the interests of its small business customers who not only rely on access to affordable credit but expect that their personally identifiable information will be kept secure.”

A PDF of the letter is below.

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