117 HR 9588 IH: Consumer Information Notification Requirement Act U.S. House of Representatives 2022-12-15 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.

I117th CONGRESS2d SessionH. R. 9588IN THE HOUSE OF REPRESENTATIVESDecember 15, 2022Mr. Luetkemeyer (for himself, Mr. Hill, Mr. Timmons, Mr. Williams of Texas, Mr. Gooden of Texas, Mr. Lucas, and Mr. Davidson) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo amend the Gramm-Leach-Bliley Act to provide a national standard for financial institution data security and breach notification on behalf of all consumers, and for other purposes.

1.

Short title

This Act may be cited as the Consumer Information Notification Requirement Act.

2.

Breach notification standards

Section 501 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801) is amended— (1)in subsection (b)(3) by striking the period at the end and inserting , including through the provision of a breach notice in the event of unauthorized access that is reasonably likely to result in identity theft, fraud, or economic loss.; and (2)by adding at the end the following: (c)

Standards with respect to breach notification

Subject to section 504(a)(2) and sections 505(b) and 505(c), within 6 months after the date of enactment of this subsection, each agency or authority required to establish standards described under subsection (b)(3) with respect to the provision of a breach notice shall ensure that such standards are in compliance with subsection (b). .

3.

Preemption with respect to financial institution safeguards

Section 507 of the Gramm-Leach-Bliley Act (15 U.S.C. 6807) is amended to read as follows:

507.

Relation to State laws

This subtitle preempts any law, rule, regulation, requirement, standard, or other provision having the force and effect of law of any State, or political subdivision of a State, with respect to a financial institution (other than a financial institution engaged in providing insurance) or affiliate thereof securing personal information from unauthorized access or acquisition, including notification of unauthorized access or acquisition of data.

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