S.Amdt. 2095

SA 2095. Mrs. SHAHEEN (for herself and Mr. Udall) submitted an
amendment intended to be proposed by her to the bill S. 2155, to
promote economic growth, provide tailored regulatory relief, and
enhance consumer protections, and for other purposes; which was ordered
to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. ___. CREDIT MONITORING.

Section 605A of the Fair Credit Reporting Act (15 U.S.C.
1681c-1), as amended by section 301(a), is amended by adding
at the end the following:
``(k) Credit Monitoring.--
``(1) Definitions.--In this subsection:
``(A) Covered breach.--The term `covered breach' means any
instance in which at least 1 piece of personally identifying
information is exposed or is reasonably likely to have been
exposed to an unauthorized party.
``(B) Covered consumer reporting agency.--The term `covered
consumer reporting agency' means--
``(i) a consumer reporting agency described in section
603(p) of the Fair Credit Reporting 21 Act (15 U.S.C.
1681a(p)); or
``(ii) a consumer reporting agency that earns not less than
$7,000,000 in annual revenue from the sales of consumer
reports.
``(2) Credit monitoring.--A covered consumer reporting
agency shall provide a free electronic credit monitoring
service that, at a minimum, notifies a consumer of a covered
breach at the covered consumer reporting agency to any
consumer who provides to the covered consumer reporting
agency--
``(A) appropriate proof of the identity of the consumer;
and
``(B) contact information of the consumer.
``(3) Rulemaking.--Not later than 1 year after the date of
enactment of this subsection, the Federal Trade Commission
shall promulgate regulations regarding the requirements of
this subsection, which shall at a minimum include--
``(A) a definition of an electronic credit monitoring
service; and
``(B) what constitutes appropriate proof of the identity of
the consumer.''.
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