Sen. Pat Toomey (R-Pa.) introduced a bill on behalf of himself and four other Republican senators setting national standards for how companies inform individuals of a breach of security related to personal information.
Toomey, alongside Sens. Olympia Snowe (Maine), Jim DeMint (S.C.), Roy BluntRoy BluntOvernight Finance: Senate sends Puerto Rico bill to Obama | Treasury, lawmakers to meet on tax rules | Obama hits Trump on NAFTA | Fed approves most banks' capital plans Overnight Healthcare: Sanders, Clinton ally jockey for health gavel Overnight Tech: Facebook's changes worry publishers | First stage of spectrum auction ends | Clinton recruits from Silicon Valley MORE (Mo.) and Dean HellerDean HellerGun-control supporters plan next steps versus NRA Long past time to fix evidence-sharing across borders Obama's great internet giveaway MORE (Nev.), introduced the Data Security and Breach Notification Act of 2012 (S.3333) on Thursday.
The personal information cited by the legislation includes Social Security numbers, driver's license numbers, financial account numbers, credit or debit card numbers and related security codes. Failure to follow the notification standard under the act goes results in a fine as high as $500,000.
Some Republicans in Congress have expressed support for something like the Data Security Act because they prefer a singular, national standard rather than differing state laws.
Read the bill below: