S 1216 · 109th Congress · Finance and Financial Sector

Financial Privacy Breach Notification Act of 2005

Introduced 2005-06-09· Sponsored by Sen. Corzine, Jon S. [D-NJ]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6319-6320)(2005-06-09)

Plain Language Summary

[AI summary unavailable — showing source text] Financial Privacy Breach Notification Act of 2005 - Amends the Gramm-Leach-Bliley Act to require a financial institution to promptly notify the following entities whenever a breach of personal information has occurred at such institution: (1) each customer affected by such breach; (2) certain consumer reporting agencies; and (3) appropriate law enforcement agencies. Requires any person that maintains personal information for or on behalf of a financial institution to promptly notify the institution of any case in which such customer information has been breached. Prescribes notification procedures. Authorizes a customer injured by a violation of this Act to institute a civil action to recover damages. Authorizes the Federal Trade Commission to enforce compliance with this Act, including the assessment of fines for violations.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat