Veterans Privacy Protection Act of 2006

Veterans Privacy Protection Act of 2006 - Directs the Federal Trade Commission (FTC) to develop and implement a program of financial counseling and support to any veteran (and spouse of a veteran) who may be a victim of identity theft as a result of the security breach at the Department of Veterans Affairs (VA) on May 3, 2006.

Amends the Fair Credit Reporting Act to direct each consumer reporting agency (CRA), upon the request of such a veteran or spouse, to provide automatic extended fraud alerts to such individuals. Authorizes the placement in the files of such a veteran or spouse of a security freeze by a CRA, after which the CRA may not release information from their file for consumer credit purposes to a third party without prior express written authorization from such veteran or spouse. Requires notification to the spouse or veteran by a CRA before the removal of a security freeze. Provides security freeze exceptions.

Amends the federal criminal code to double the penalties for identity theft when the victim is a veteran or their spouse.

Requires Comptroller General studies on: (1) VA data protection; (2) VA security breach investigation; (3) an FTC program for veterans and spouses at risk of identity theft; and (4) federal agency compliance with personal data protection requirements.