Sec. 2. Data breaches
464 words·~2 min read·
/bill/116/s/84/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Small Business Act ( 15 U.S.C. 631 et seq.) is amended— by redesignating section 49 ( 15 U.S.C. 631 note) as section 50; and by inserting after section 48 ( 15 U.S.C. 657u ) the following: In this section, the term credit reporting company — has the meaning given the term consumer reporting agency in section 603 of the Fair Credit Reporting Act ( 15 U.S.C. 1681a ); and includes an entity that collects commercial credit data. Except as provided in paragraph (2), if nonpublic data of a small business concern that is collected or stored by a credit reporting company has been breached, the credit reporting company shall report the breach promptly and not later than as required under the law of the State in which the small business concern is located.
If a small business concern that is affected by a breach described in subparagraph
(A)has locations in more than 1 State, for the purposes of that subparagraph, the law of the State that imposes the shortest period for the reporting of the breach shall apply. If a small business concern that is affected by a breach described in paragraph (1)(A) is located in a State that does not have a law that imposes a set period for the reporting of the breach, the credit reporting company to which the requirement under that paragraph applies shall report the breach in the most expeditious manner practicable and without unreasonable delay. For the purposes of subparagraph (A), a delay with respect to the reporting of a breach described in that subparagraph that is caused by a requirement to respond to a request submitted by a law enforcement agency shall be construed to be a reasonable delay. During the 180-day period beginning on the date on which a breach described in subsection (b)(1)(A) occurs, a credit reporting company may not charge a small business concern that is affected by that breach for providing the small business concern with the credit report of the small business concern. Nothing in this section shall preempt any State law with respect to credit reporting companies. . In this subsection— the term credit reporting company — has the meaning given the term consumer reporting agency in section 603 of the Fair Credit Reporting Act ( 15 U.S.C. 1681a ); and includes an entity that collects commercial credit data; and the term small business concern has the meaning given the term in section 3(a) of the Small Business Act ( 15 U.S.C. 632(a) ). Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report regarding the economic harm incurred by small business concerns as a result of data breaches at credit reporting companies.
Connectionstraces to 4
Traces to 4 documents
Citation graph
cites case law
Cites 4Cited by 0 across 0 sources