S 5449
Data Breach Prevention and Compensation Act of 2024
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- Became Law
Bill overview
This bill establishes an Office of Cybersecurity within the Federal Trade Commission (FTC) to oversee data security practices at consumer reporting agencies. It requires these agencies to implement and maintain robust cybersecurity standards, including detailed technical measures and ongoing monitoring, and imposes penalties for data breaches that compromise sensitive consumer information. The bill also mandates notification procedures for breaches and allows the FTC to seek injunctive relief to enforce these standards.
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