PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9515-9517)
Congressional Research Service
Version 00 · Introduced in Senate · Jul 29, 2005
Financial Privacy Protection Act of 2005 - Amends the Gramm-Leach-Bliley Act to require each financial institution to develop and maintain a security system designed to prevent any breach with respect to its customer information.
Prescribes guidelines for: (1) federal functional regulators to issue regulations governing a customer information security system; and (2) financial institutions to notify customers of unauthorized access to customer information.
Provides for: (1) civil action for damages by a customer adversely affected by a violation of this Act; (2) injunctions against a financial institution in violation or potential violation of this Act; and (3) civil enforcement actions by state Attorneys General.
Amends the Fair Credit Reporting Act to: (1) require a consumer reporting agency to trigger a fraud alert in a consumer file upon notification by a consumer of a data security breach or suspected breach under this Act; and (2) prohibit the user of a consumer report to take any adverse action with respect to a consumer based solely on the inclusion of a fraud alert, extended alert, or active duty alert in the file of that consumer.
People & committees
Sen. Corzine, Jon S. [D-NJ] · D–NJ
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9515-9517)
Sponsor introductory remarks on measure. (CR S9515)
Introduced in Senate
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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Analyze S.1594 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.1594 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.1594 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.1594 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.