What The Modifed Fair Credit Act Could Look Like

[Don Kennedy <zoverlords () yahoo com>]

This would NOT allow your state to have any rules on this, Wait till you see how "Data Breach" is defined! as well as 
weakly defining what is "RISK" and what damages "If Any!" you might be entitled to:
   
  From: http://www.congress.gov/cgi-bin/query/z?c109:H.R.3997:
   
  Some Examples, Quotes:
   
  "`(l) Relation to State Laws- No requirement or prohibition may be imposed under the laws of any State with respect 
to the responsibilities of any person--"
   
  "`(1) BREACH OF DATA SECURITY- The term `breach of data security' means, with respect to sensitive financial personal 
information that is maintained, serviced, or communicated by or on behalf of any consumer reporter--
  `(A) an unauthorized acquisition of such information that could be used to commit financial fraud (such as identity 
theft or fraudulent transactions made on financial accounts); or
  `(B) an unusual pattern of use of such information indicative of financial fraud."
  **********************************************************
  So losing the data is not a BREACH, it must be proved to be ACQUIRED?
   
  Many state laws currently allow you to Freeze your credit report, this would be a thing of the past now!
   
  More Detail:
  http://www.congress.gov/cgi-bin/bdquery/z?d109:H.R.3997:
  Thoughts?


                        
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