Financial Data Security Act of 2005

H.R. 3375, the Financial Data Security Act of 2005, proposes national standards for how companies handle and protect your sensitive financial information. The bill would require credit bureaus and data brokers to maintain security procedures to prevent identity theft and notify both law enforcement and consumers if a data breach occurs.

For everyday citizens, this legislation would provide a right to free credit monitoring services if your personal data is compromised. Additionally, the bill aims to create a single federal standard for data security, which would replace various state-level rules with a uniform set of protections across the country.