Data Security Act of 2007

Bill: 110-hr-1685
Sponsor: Rep. Price, Tom [R-GA-6]
Introduced: 2007-03-26 in the House
Policy area: Crime and Law Enforcement
Subjects: Administrative procedure
Bank records
Civil actions and liability
Class actions (Civil procedure)
Commerce
Commodity Futures Trading Commission
Computer security measures
Consumer credit
Consumer education
Consumer protection
Crime prevention
Data banks
Department of the Treasury
Federal Deposit Insurance Corporation
Federal Reserve System
Federal Trade Commission
Federal home loan banks
Federal preemption
Finance and Financial Sector
Financial statements
Fraud
Government Operations and Politics
Government paperwork
Identification devices
Identity theft
Independent regulatory commissions
Law
National Credit Union Administration
Science, Technology, Communications
Securities and Exchange Commission
State laws

Summary:
action_date: 2007-03-26
text: 
Data Security Act of 2007 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer.
 
Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions.
 
Denies a private right of action, including a class action, regarding any act or practice regulated under this Act.
 
 Prohibits any civil or criminal action in state court or under state law relating to any act or practice governed under this Act.
 
Prescribes data security standards to be implemented by federal agencies.
 
Expresses the sense of the Congress that federal regulators shall make every effort to reconcile differences between this Act and specified requirements of the Gramm-Leach-Bliley Act.
 
 Provides that a notice provided to any consumer under this Act may be the basis for a request by the consumer for an initial fraud alert under the Fair Credit Reporting Act.
 
Preempts state law with respect to the responsibilities of any person to protect against and investigate such data security breaches and mitigate any losses or harm resulting from them.


Legislative actions:
action_date: 2007-03-27
text: Referred to the Subcommittee on Commerce, Trade and Consumer Protection.
action_date: 2007-03-26
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-03-26
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-03-26
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-03-26
text: Referred to the Committee on Financial Services, and in addition to the Committees on Oversight and Government Reform, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2007-03-26
text: Introduced in House
action_date: 2007-03-26
text: Introduced in House