Home > 104th Congressional Bills > H.R. 819 (ih) To amend title IV of the Social Security Act to provide welfare [Introduced in House] ...H.R. 819 (ih) To amend title IV of the Social Security Act to provide welfare [Introduced in House] ...
108th CONGRESS
1st Session
H. R. 818
To amend the Gramm-Leach-Bliley Act to further protect customers of
financial institutions whose identities are stolen from the financial
institution, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 13, 2003
Mr. Kleczka (for himself and Mr. Ryan of Wisconsin) introduced the
following bill; which was referred to the Committee on Financial
Services
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A BILL
To amend the Gramm-Leach-Bliley Act to further protect customers of
financial institutions whose identities are stolen from the financial
institution, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Identity Theft Consumer Notification
Act''.
SEC. 2. FINANCIAL INSTITUTION'S OBLIGATION TO PROMPTLY NOTIFY AND
ASSIST CUSTOMERS WHOSE PERSONAL INFORMATION IS
COMPROMISED.
(a) Prompt Notice and Assistance.--Section 503(b) of the Gramm-
Leach-Bliley Act (15 U.S.C. 6803(b)) is amended--
(1) by striking ``and'' at the end of paragraph (3);
(2) by striking the period at the end of paragraph (4) and
inserting ``; and''; and
(3) by inserting after paragraph (4) the following new
paragraph:
``(5) a statement that, upon discovering that the
confidentiality or security of any nonpublic personal
information maintained by the financial institution with
respect to consumer has been compromised in any way by an
employee of the financial institution, or through any
unauthorized entry into the records of the financial
institution, the financial institution is obligated--
``(A) to promptly notify the consumer of the
compromise of the security or confidentiality of such
information, and any misuse of such information, that
the financial institution discovers or reasonably
should discover has occurred;
``(B) to provide assistance to the consumer to
remedy any such compromise, including the duty of the
financial institution under the Fair Credit Reporting
Act to correct and update information contained in a
consumer report relating to such consumer;
``(C) to reimburse the consumer for any losses the
consumer incurred as a result of the compromise of the
security or confidentiality of such information, and
any misuse of such information, including any fees for
obtaining, investigating, and correcting a consumer
report of such consumer at any consumer reporting
agency; and
``(D) to provide information concerning the manner
in which the consumer can obtain such assistance.''.
(b) Waiver of Disclosure at Request of Law Enforcement Agency for
Limited Time.--Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C.
6803) is amended by adding at the end the following new subsection:
``(c) Waiver of Disclosure at Request of Law Enforcement Agency for
Limited Time.--A financial institution may delay notifying a consumer
that the confidentiality or security of any nonpublic personal
information of the consumer maintained by the financial institution has
been compromised at the request of a law enforcement agency
investigating such violation for such limited period of time as the law
enforcement agency determines is essential for carrying out the
investigation.''.
(c) Penalties for Failure To Notify Customers of Identity Theft.--
Section 503 of the Gramm-Leach-Bliley Act (15 U.S.C. 6803) is amended
by inserting after subsection (c) (as added by subsection (b) of this
section) the following new subsection:
``(d) Penalties for Failure To Notify and Assist Customers After
Identity Theft.--The failure of any financial institution to promptly
notify any consumer that the confidentiality or security of any
nonpublic personal information of the consumer maintained by the
financial institution has been compromised in any way by an employee of
the financial institution or through any unauthorized entry into the
records of the financial institution, to provide assistance to such
consumer, or to reimburse the consumer for any loss or fee described
subsection (b)(5)(C) shall be treated as a violation of--
``(1) this title for purposes of enforcement actions
required under section 505; and
``(2) the requirements of section 623(a)(2) of the Fair
Credit Reporting Act to correct and update information
concerning the consumer in a consumer report at a consumer
reporting agency.''.
SEC. 3. ADDITIONAL PROTECTION FOR VICTIMS OF IDENTITY THEFT.
Section 618 of the Fair Credit Reporting Act (15 U.S.C. 1681p) is
amended to read as follows:
``SEC. 618. JURISDICTION OF COURTS; LIMITATIONS OF ACTIONS.
``(a) In General.--An action to enforce any liability created under
this title may be brought in any appropriate United States district
court, without regard to the amount in controversy, or in any other
court of competent jurisdiction, not later than 2 years after the date
on which the violation is discovered or should have been discovered by
the exercise of reasonable diligence.
``(b) Willful Misrepresentation.--The limitations period prescribed
in subsection (a) shall be tolled during any period during which a
defendant has materially and willfully misrepresented any information
required under this title to be disclosed to an individual, and the
information so misrepresented is material to the establishment of the
liability of the defendant to that individual under this title.''.
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