Consumer Data Security and Notification Act of 2005

H.R. 3140, the Consumer Data Security and Notification Act of 2005, aims to strengthen the protection of personal information by bringing previously unregulated data brokers under the oversight of the Fair Credit Reporting Act. The bill requires these brokers and credit reporting agencies to maintain strict safeguards to ensure the security and confidentiality of nonpublic consumer data. Additionally, it directs federal agencies to establish mandatory notification requirements, ensuring that financial institutions inform citizens if their personal information has been compromised.