Sec. 2. Definitions
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/bill/113/s/1927/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of this Act, the following definitions shall apply: The term affiliate means any company that controls, is controlled by, or is under common control with another company. The term agency has the same meaning as in section 551(1) of title 5, United States Code. The term breach of data security means the unauthorized acquisition of sensitive account information or sensitive personal information. The term breach of data security does not include the unauthorized acquisition of sensitive account information or sensitive personal information that is maintained or communicated in a manner that is not usable— to commit identity theft; or to make fraudulent transactions on financial accounts.
For purposes of this subparagraph, information that is maintained or communicated in a manner that is not usable includes any information that is maintained or communicated in an encrypted, redacted, altered, edited, or coded form. The term Commission means the Federal Trade Commission. The term consumer means an individual. The term consumer reporting agency that compiles and maintains files on consumers on a nationwide basis has the same meaning as in section 603(p) of the Fair Credit Reporting Act (15 U.S.C. 1681a(p)).
The term covered entity means any— entity, the business of which is engaging in financial activities, as described in section 4(k) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1843(k) ); financial institution, including any institution described in section 313.3(k) of title 16, Code of Federal Regulations, as in effect on the date of enactment of this Act; entity that maintains or otherwise possesses information that is subject to section 628 of the Fair Credit Reporting Act ( 15 U.S.C. 1681w ); or other individual, partnership, corporation, trust, estate, cooperative, association, or entity that maintains or communicates sensitive account information or sensitive personal information.
The term covered entity does not include any agency or any other unit of Federal, State, or local government or any subdivision of the unit. The term financial institution has the same meaning as in section 509(3) of the Gramm-Leach-Bliley Act (15 U.S.C. 6809(3)). The term sensitive account information means a financial account number relating to a consumer, including a credit card number or debit card number, in combination with any security code, access code, password, or other personal identification information required to access the financial account.
The term sensitive personal information means the first and last name, address, or telephone number of a consumer, in combination with any of the following relating to the consumer: Social security account number. Driver’s license number or equivalent State identification number. Taxpayer identification number. The term sensitive personal information does not include publicly available information that is lawfully made available to the general public from— Federal, State, or local government records; or widely distributed media.
The term substantial harm or inconvenience means— material financial loss to, or civil or criminal penalties imposed on, a consumer, due to the unauthorized use of sensitive account information or sensitive personal information relating to the consumer; or the need for a consumer to expend significant time and effort to correct erroneous information relating to the consumer, including information maintained by a consumer reporting agency, financial institution, or government entity, in order to avoid material financial loss, increased costs, or civil or criminal penalties, due to the unauthorized use of sensitive account information or sensitive personal information relating to the consumer.
The term substantial harm or inconvenience does not include— changing a financial account number or closing a financial account; or harm or inconvenience that does not result from identity theft or account fraud.
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