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 Dean BluntThe Hill's Morning Report — Presented by T-Mobile — House, Senate leaders named as Pelosi lobbies for support to be Speaker McConnell: Congress aiming for deal on sexual harassment bill this year The Hill's 12:30 Report — Sponsored by Delta Air Lines — Leadership elections in Congress | Freshman lawmakers arrive | Trump argues he can restrict reporter access MORE (Mo.) and Dean HellerDean Arthur HellerCortez Masto named Dem Senate campaign chairwoman Nevada New Members 2019 Election Countdown: Lawsuits fly in Florida recount fight | Nelson pushes to extend deadline | Judge says Georgia county violated Civil Rights Act | Biden, Sanders lead 2020 Dem field in poll | Bloomberg to decide on 2020 by February MORE (Nev.), introduced the Data Security and Breach Notification Act of 2012 (S.3333) on Thursday.

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The act directs corporations, trusts, cooperatives and similar entities that retain personal information to inform the owners of that information of a breach as quickly as possible. The breached entities have to inform the owners of the breached information on the date it was accessed, the information that was stolen and how to contact the breached entity for more information. The notification can be by telephone, email or on paper.

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:

S 3333 Data Security - Bill Text