S 1216 · 109th Congress · Finance and Financial Sector
Financial Privacy Breach Notification Act of 2005
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: 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