3.0.0 3374 2019-11-15T20:53:43Z 2019-11-15T20:53:43Z House H HR 2005-07-21 109 hsba00 Financial Services Committee House Standing Referred to 2005-07-21T14:01:20Z 2005-07-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-07-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-07-21 Introduced in House IntroReferral 1000 9 Library of Congress L000553 Rep. LaTourette, Steven C. [R-OH-14] STEVEN LATOURETTE R OH C. 14 N H000762 Rep. Hooley, Darlene [D-OR-5] DARLENE HOOLEY D OR 5 2005-07-21 True Finance and Financial Sector Administrative procedure Bank records Commerce Computer crimes Computer security measures Confidential communications Consumer credit Consumer education Consumer protection Contractors Crime and Law Enforcement Criminal investigation Criminal justice information Data banks Department of the Treasury Electronic data interchange Federal Deposit Insurance Corporation Federal Reserve System Federal Trade Commission Federal preemption Financial institutions Financial services Fraud Government Operations and Politics Government corporations Government paperwork Identification devices Identity theft Independent regulatory commissions Law Liability (Law) Local laws National Credit Union Administration Science, Technology, Communications Securities and Exchange Commission Security measures Social Welfare Social security numbers State laws Telephone Victims of crimes Finance and Financial Sector 00 2005-07-21 Introduced in House 2005-10-03T21:07:40Z Consumer Notification and Financial Data Protection Act of 2005 - Declares that each financial institution has an obligation to maintain reasonable policies and procedures to protect the security and confidentiality of a consumer's sensitive financial personal information against any unauthorized use that is reasonably likely to result in harm or substantial inconvenience to such consumer.

Prescribes procedural guidelines, including: (1) investigation and notice procedures to alert regulators, law enforcement officials, and consumers in case of data security breaches; (2) mitigation procedures that offer free nationwide file monitoring for affected consumers; and (3) a safe harbor from liability for a financial institution in compliance with this Act.

Directs the Federal Trade Commission to promulgate regulations requiring a financial institution which maintains or possesses sensitive financial personal information for a business purpose to dispose of it so that it cannot practicably be read or reconstructed.

Preempts comparable state law.

]]> Consumer Notification and Financial Data Protection Act of 2005 Short Titles as Introduced Consumer Notification and Financial Data Protection Act of 2005 Display Title Consumer Notification and Financial Data Protection Act of 2005 Official Title as Introduced To provide for the uniform and timely notification of consumers whose sensitive financial personal information has been placed at risk by a breach of data security, to enhance data security safeguards, to provide appropriate consumer mitigation services, and for other purposes. Introduced in House 2005-07-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr3374ih/xml/BILLS-109hr3374ih.xml 2005-07-21 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.