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Small Business Credit Protection: Mandatory Data Breach Reporting and Free Credit Reports.

This Act mandates new requirements for credit reporting companies, forcing them to promptly notify small businesses about breaches of their nonpublic data. Following a breach, affected small businesses are entitled to a free credit report for 180 days to monitor potential financial damage. The goal is to enhance the financial security and data protection for small enterprises.
Key points
Credit reporting companies must immediately report data breaches to small businesses, adhering to the shortest state reporting deadlines.
Small businesses affected by a data breach will receive a free credit report for 180 days to check their financial status without charge.
The law does not override existing state laws regarding data protection and credit reporting, ensuring a federal minimum standard of protection.
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Expired
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Additional Information
Print number: 118_S_1371
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2023-04-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Credit Protection Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1371.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Credit reporting companies must immediately report data breaches to small businesses, adhering to the shortest state reporting deadlines.
  • Small businesses affected by a data breach will receive a free credit report for 180 days to check their financial status without charge.
  • The law does not override existing state laws regarding data protection and credit reporting, ensuring a federal minimum standard of protection.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Security Courts and Law