H.R.5474 - Identity Theft Consumer Notification Act107th Congress (2001-2002)
|Sponsor:||Rep. Kleczka, Gerald D. [D-WI-4] (Introduced 09/26/2002)|
|Committees:||House - Financial Services|
|Latest Action:||10/07/2002 Referred to the Subcommittee on Financial Institutions and Consumer Credit.|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Subject — Policy Area:
- Finance and Financial Sector
- View subjects
Summary: H.R.5474 — 107th Congress (2001-2002)All Bill Information (Except Text)
Identity Theft Consumer Notification Act - Amends the Gramm-Leach-Bliley Act to require that a financial institution to disclose annually to its customers its statutory obligation to: (1) promptly notify the customer if nonpublic personal information has been compromised or misused; (2) help the customer to remedy such compromise, including correcting and updating information contained in a consumer report relating to such customer; (3) reimburse the customer for losses incurred as a result of the compromise or misuse of the information, including fees for obtaining, investigating, and correcting a consumer report on the customer at any consumer reporting agency; and (4) provide information on how the consumer can obtain assistance.
Introduced in House (09/26/2002)
Sets forth penalties for the failure of a financial institution to perform its disclosure obligations.
Amends the Fair Credit Reporting Act to grant Federal district courts jurisdiction for an action to enforce liability without regard to amount in controversy, in addition to courts of competent jurisdiction.