H.R. 3374 (109th): Consumer Notification and Financial Data Protection Act of 2005

Jul 21, 2005 (109th Congress, 2005–2006)
Died (Referred to Committee)
Steven LaTourette
Representative for Ohio's 14th congressional district
Read Text »
Last Updated
Jul 21, 2005
17 pages

This bill was introduced on July 21, 2005, in a previous session of Congress, but was not enacted.

Introduced Jul 21, 2005
Referred to Committee Jul 21, 2005
Full Title

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.


No summaries available.

1 cosponsors (1D) (show)

House Financial Services

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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