Consumer Protection Law
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If a financial institution is negligent (typically because of computer security issues) then the consumer may sue for breach of privacy and confidentiality.
Some states have been very proactive and have required institutions to notify the consumer as soon as possible if there is a security breach (ie California - "Without unreasonable delay").
but even in the states that have not passed legislation re: notification, the courts will look to the industry standard to determine if the institution adequately safeguarded information based on the status quo; and whether reasonable notification was provided.
If not, the consumer may sue in civil court for the aforementioned causes of action.
Some information on how to recover from ID theft:
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