summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
113th Congress
Bill Summary
Eliminate Privacy Notice Confusion Act - Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers.
AI Summary
This bill, titled the Eliminate Privacy Notice Confusion Act, amends the Gramm-Leach-Bliley Act, a law that governs how financial institutions handle the private information of their customers. Specifically, it creates an exception to the requirement that financial institutions send out an annual notice detailing their privacy policies. Under this bill, a financial institution would no longer need to send this annual notice if it meets two conditions: first, it only shares nonpublic personal information (private customer data) in ways permitted by law, and second, it has not changed its practices for sharing this information since the last privacy notice it sent to customers. This means that if a financial institution's privacy practices remain the same and they continue to comply with existing privacy regulations, they are relieved of the obligation to send out the yearly privacy notice until they either change their practices or fail to comply with the law.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (74)
Blaine Luetkemeyer (R)*,
Spencer Bachus (R),
Gus Bilirakis (R),
Diane Black (R),
Cheri Bustos (D),
John Carney (D),
André Carson (D),
Steve Chabot (R),
Tammy Duckworth (D),
Sean Duffy (R),
William Enyart (D),
Stephen Fincher (R),
Michael Fitzpatrick (R),
John Fleming (R),
Jeff Fortenberry (R),
Bill Foster (D),
Paul Gosar (R),
Sam Graves (R),
Tom Graves (R),
Colleen Hanabusa (D),
Vicky Hartzler (R),
Alcee Hastings (D),
Doc Hastings (R),
Rubén Hinojosa (D),
Jared Huffman (D),
Bill Huizenga (R),
Randy Hultgren (R),
Robert Hurt (R),
Walter Jones (R),
Derek Kilmer (D),
Steve King (R),
John Larson (D),
Bob Latta (R),
Daniel Lipinski (D),
David Loebsack (D),
Billy Long (R),
Ben Ray Luján (D),
Carolyn Maloney (D),
Sean Maloney (D),
Carolyn McCarthy (D),
Gregory Meeks (D),
Michael Michaud (D),
Candice Miller (R),
Gary Miller (R),
Jeff Miller (R),
Gwen Moore (D),
James Moran (D),
Grace Napolitano (D),
Eleanor Holmes Norton (D),
Richard Nugent (R),
William Owens (D),
Erik Paulsen (R),
Ed Perlmutter (D),
Gary Peters (D),
Chellie Pingree (D),
Robert Pittenger (R),
Mark Pocan (D),
James Renacci (R),
Dennis Ross (R),
Edward Royce (R),
Aaron Schock (R),
Kurt Schrader (D),
F. James Sensenbrenner (R),
Carol Shea-Porter (D),
Brad Sherman (D),
Steve Stivers (R),
Niki Tsongas (D),
Tim Walberg (R),
Debbie Wasserman Schultz (D),
Peter Welch (D),
Lynn Westmoreland (R),
Frederica Wilson (D),
Joe Wilson (R),
Don Young (R),
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 03/13/2013)
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