Obama will propose laws on data hacking, student privacy

President Barack Obama will propose new legislation requiring companies to better defend consumer data against cyberattacks, The New York Times reports. Obama will also propose laws protecting student data privacy, according to White House officials.

The news comes after massive data breaches at companies including Target, Home Depot, Neiman Marcus, and Sony Pictures Entertainment. Experts expect Obama to formally announce the Personal Data Notification and Protection Act at Monday's meeting of the Federal Trade Commission.

The proposed data hacking law would require U.S. companies to notify customers within 30 days if their data is hacked. It will also criminalize selling customers' identities overseas.

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The Student Digital Privacy Act, meanwhile, would prevent companies from selling students' personal information to third parties.