To create an Office of Cybersecurity at the Federal Trade Commission for supervision of data security at consumer reporting agencies, to require the promulgation of regulations establishing standards for effective cybersecurity at consumer reporting agencies, to impose penalties on credit reporting agencies for cybersecurity breaches that put sensitive consumer data at risk, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To create an Office of Cybersecurity at the Federal Trade Commission for supervision of data security at consumer reporting agencies, to require the promulgation of regulations establishing standards for effective cybersecurity at consumer reporting agencies, to impose penalties on credit reporting agencies for cybersecurity breaches that put sensitive consumer data at risk, and for other purposes., changes federal law or congressional policy affecting technology companies and users of digital services. The main policy domain is Technology, Immigration, Criminal Justice.
Who Benefits and How
technology companies and users of digital services may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, technology companies and users of digital services may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Data Breach Prevention and Compensation Act of 2024.
- Section idDE77928C0305464DBD3C37D2FC1907DD: 2. Definitions In this Act: The term affected consumer means any individual to whom personally identifying information pertains that was, or that may have...
- Section id787b9850417f4e5b9fb4575bedd63087: 3. Cybersecurity standards and FTC authority There is established in the Commission an Office of Cybersecurity, which shall be headed by a Director, who shall...
- Section id76598f0801b44a8eb377ec41c78cc09e: 4. Notification and enforcement Except as provided in paragraph (3), not later than 10 days after the date on which a covered breach occurs, any covered...
- Section idCA98AFA193CF405A8C4B7E0F9C8225F6: 5. Authorization of appropriations There are authorized to be appropriated $100,000,000 to carry out this Act, to remain available until expended.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To create an Office of Cybersecurity at the Federal Trade Commission for supervision of data security at consumer reporting agencies, to require the promulgation of regulations establishing standards for effective cybersecurity at consumer reporting agencies, to impose penalties on credit reporting agencies for cybersecurity breaches that put sensitive consumer data at risk, and for other purposes., changes federal law or congressional policy affecting technology companies and users of digital services.
Key Policy Areas
Technology, Immigration, Criminal Justice
Primary Purpose
This bill, To create an Office of Cybersecurity at the Federal Trade Commission for supervision of data security at consumer reporting agencies, to require the promulgation of regulations establishing standards for effective cybersecurity at consumer reporting agencies, to impose penalties on credit reporting agencies for cybersecurity breaches that put sensitive consumer data at risk, and for other purposes., changes federal law or congressional policy affecting technology companies and users of digital services.
Policy Domains
Whole bill
Identified Gains
- technology companies and users of digital services
Identified Costs
- federal implementing agencies
- technology companies and users of digital services
Sponsors
Legislative Progress
IntroducedMs. Warren (for herself, Mr. Warner, and Mrs. Shaheen) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
Key Definitions
Terms defined in this bill
the Director of the Office. The term Office means the Office of Cybersecurity established under section 3(a). The term personally identifying information means, with respect to an individual— the social security number of the individual
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology