,,ib  ,union ,calendar ,no4 #hdi  #aaeth
 ,,congress  #b;d ,session  ,h4 ,r4     
#fgdc  ,report ,no4 #aae-ajig  ,,in     
,,the ,,house ,,of ,,representatives    
,september #g1 #bjah ,mr4 ,luetkemeyer  
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services  ,december #ba1    
#bjah ,reported with an amendment1      
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed       
,strike out all after the enacting      
clause and insert the part printed in   
italic ,for text of introduced bill1 see
 copy of bill as introduced on          
,september #g1 #bjah  ,a ,,bill  ,to    
amend the ,gramm-,leach-,bliley ,act to 
provide a national standard for         
financial institution data security and 
breach notification on behalf of all    
consumers1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,consumer ,information ,notification
 ,requirement ,act4  #b4 ,breach        

notification standards ,section #eja of 
the ,gramm-,leach-,bliley ,act 7#ae     
,u4,s4,c4 #fhja7 is amended--  7#a7 in  
subsection 7b77#c7 by striking the      
period at the end and inserting 1       
including through the provision of a    
breach notice in the event of           
unauthorized access that is reasonably  
likely to result in identity theft1     
fraud1 or economic loss42 and  7#b7 by  
adding at the end the following3  7c7   
,standards with respect to breach       
notification ,subject to section        
#ejd7;a77#b7 and sections #eje7;b7 and  
#eje7;c71 within #f months after the    
date of enactment of this subsection1   
each agency or authority required to    
establish standards described under     
subsection 7b77#c7 with respect to the  
provision of a breach notice shall      
ensure that such standards are in       
compliance with subsection 7b74  7d7    
,insurance  7#a7 ,enforcement           
,notwithstanding section #eje7;a77#f71  
with respect to an entity engaged in    

providing insurance1 the standards under
 subsection 7b7 shall be enforced--     
7,a7 with respect to any such standards 
related to data security safeguards1    
by-- 7i7 the ,state insurance authority 
of the ,state in which the entity is    
domiciled2 or  7ii7 in the case of an   
insurance agency or brokerage1 the      
,state insurance authority of the ,state
 in which such agency or brokerage has  
its principal place of business2 and    
7,b7 with respect to any such standards 
related to notification of the breach of
 data security1 by the ,state insurance 
authority of any ,state in which        
customers of the entity are affected by 
such a breach of data security4  7#b7   
,notification by assuming insurer  7,a7 
,in general ,notwithstanding subsection 
7b71 an assuming insurer that           
experiences a breach of data security   
shall only be required to notify the    
,state insurance authority of the ,state
 in which the assuming insurer is       
domiciled4  7,b7 ,assuming insurer      

defined ,for purposes of this paragraph1
 the term assuming insurer means an     
entity engaged in providing insurance   
that acquires an insurance obligation or
 risk from another entity engaged in    
providing insurance pursuant to a       
reinsurance agreement4  7#c7 ,safeguards
 for insurance customers ,in carrying   
out subsection 7b7 with respect to an   
entity engaged in providing insurance1 a
 ,state insurance authority shall       
establish the standards for safeguarding
 customer information maintained by     
entities engaged in activities described
 in section #d7k77#d77;,b7 of the ,bank 
,holding ,company ,act of #aief 7#ab    
,u4,s4,c4 #ahdc7d77k77#d77;,b77 that are
 the same as the standards contained in 
the interagency guidelines issued by the
 ,comptroller of the ,currency1 the     
,board of ,governors of the ,federal    
,reserve ,board1 the ,federal ,deposit  
,insurance ,corporation1 and the ,office
 of ,thrift ,supervision titled         
,interagency ,guidelines ,establishing  

,standards for ,safeguarding ,customer  
,information1 published ,february #a1   
#bjja 7#ff ,fed4 ,reg4 #hfcc71 and such 
standards shall be applied as if the    
entity engaged in providing insurance   
was a bank to the extent appropriate and
 practicable4  4  #c4 ,preemption with  
respect to financial institution        
safeguards ,section #ejg of the         
,gramm-,leach-,bliley ,act 7#ae         
,u4,s4,c4 #fhjg7 is amended to read as  
follows3  #ejg4 ,relation to ,state laws
  7a7 ,in general ,this subtitle        
preempts any law1 rule1 regulation1     
requirement1 standard1 or other         
provision having the force and effect of
 law of any ,state1 or political        
subdivision of a ,state1 with respect to
 a financial institution or affiliate   
thereof securing personal information   
from unauthorized access or acquisition1
 including notification of unauthorized 
access or acquisition of data4  7b7     
,insurance ,subsection 7a7 shall not    
prevent a ,state or political           

subdivision of a ,state from            
establishing the standards for entities 
engaged in providing insurance required 
by sections #eja7;c7 and #eja7;d71      
provided the standards established by   
such ,state or political subdivision do 
not impose any requirement that is in   
addition to or different from those     
standards1 except where necessary to    
effectuate the purposes of this         
subtitle4  4  ,december #ba1 #bjah      
,reported with an amendment1 committed  
to the ,committee of the ,whole ,house  
on the ,state of the ,union1 and ordered
 to be printed