The bill, the Consumer Notification and Financial Data Protection Act of 2005, is similar to others proposed this year in Congress after a series of widely publicized data breaches.
Introduced by U.S. Reps. Steven LaTourette (R-Ohio) and Darlene Hooley (D-Ore.), the legislation also would require companies to provide one year of free credit monitoring services when a breach puts consumers at risk of identity theft.
In addition, the bill also would require businesses to maintain policies and procedures to protect sensitive financial personal information.
"We've got a serious problem where folks are hacking into store and credit-card records and getting a front-row view of the financial data of millions of consumers," LaTourette said in a statement. "Sadly, consumers are often the last to know if their data has been compromised."
Last month, Sen. Arlen Specter (R-Pa.) and Sen. Patrick Leahy (D-Vt.) introduced broad legislation designed to increase protection of consumers' private data.
.png&h=140&w=231&c=1&s=0)
.png&w=100&c=1&s=0)
Private AI vs Public AI: How your organisation can securely adopt AI without compromise and excessive cost
iTnews Benchmark Security Awards 2025
Digital Leadership Day Federal
Government Cyber Security Showcase Federal
Government Innovation Showcase Federal
.jpg&h=140&w=231&c=1&s=0)
.jpg&h=140&w=231&c=1&s=0)
