Protecting Small Business Credit Data from Breaches
This act introduces new rules for credit reporting companies to better protect small business information from data breaches. If a breach occurs, these companies must promptly notify affected small businesses. For 180 days following a breach, small businesses will not be charged for accessing their credit reports.
Key points
Credit reporting companies must promptly report data breaches affecting small businesses, following state law or without unreasonable delay.
Small businesses affected by a data breach will receive free access to their credit reports for 180 days.
The act does not override existing state laws regarding credit reporting, allowing states to maintain their own, potentially stricter, regulations.
Status:
Expired
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