There is one summary for S.1216. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/09/2005)

Financial Privacy Breach Notification Act of 2005 - Amends the Gramm-Leach-Bliley Act to require a financial institution to promptly notify the following entities whenever a breach of personal information has occurred at such institution: (1) each customer affected by such breach; (2) certain consumer reporting agencies; and (3) appropriate law enforcement agencies.

Requires any person that maintains personal information for or on behalf of a financial institution to promptly notify the institution of any case in which such customer information has been breached. Prescribes notification procedures.

Authorizes a customer injured by a violation of this Act to institute a civil action to recover damages.

Authorizes the Federal Trade Commission to enforce compliance with this Act, including the assessment of fines for violations.