Consumer Information Notification Requirement Act

This bill amends the Gramm-Leach-Bliley Act to require federal financial regulators to set forth rules regarding data breaches. Specifically, these rules must require financial institutions, banks, and specified others to notify customers of breaches likely to result in identity theft, fraud, or economic loss. The bill also requires state insurance authorities to establish and enforce similar standards for insurers.

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Let us not despair but act.

Let us not seek the Republican answer or the Democratic answer but the right answer.

Let us not seek to fix the blame for the past - let us accept our own responsibility for the future.

President John F. Kennedy

February 1958

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