summary
Introduced
01/28/2015
01/28/2015
In Committee
03/26/2015
03/26/2015
Crossed Over
04/14/2015
04/14/2015
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
Eliminate Privacy Notice Confusion Act (Sec. 2) 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 requires financial institutions to provide customers with annual notices about their privacy policies. Specifically, this bill creates an exception to that annual notice requirement for financial institutions that meet two conditions: first, they must only share nonpublic personal information (private information about consumers held by financial institutions) in accordance with specific legal provisions, and second, they must not have changed their policies or practices regarding the disclosure of this nonpublic personal information since their last notification to consumers. This means that if a financial institution has not altered how it shares private customer data and continues to follow existing privacy rules, it will no longer be obligated to send out an annual privacy notice until it fails to meet these criteria.
Committee Categories
Business and Industry, Housing and Urban Affairs
Sponsors (58)
Blaine Luetkemeyer (R)*,
Diane Black (R),
Rod Blum (R),
Mike Bost (R),
Mo Brooks (R),
Cheri Bustos (D),
André Carson (D),
Chris Collins (R),
Rodney Davis (R),
Tammy Duckworth (D),
Sean Duffy (R),
Tom Emmer (R),
Stephen Fincher (R),
Michael Fitzpatrick (R),
Jeff Fortenberry (R),
Bill Foster (D),
Gwen Graham (D),
Richard Hanna (R),
French Hill (R),
Jared Huffman (D),
Bill Huizenga (R),
Robert Hurt (R),
Walter Jones (R),
Derek Kilmer (D),
Peter King (R),
Ann Kuster (D),
Bob Latta (R),
Daniel Lipinski (D),
David Loebsack (D),
Billy Long (R),
Nita Lowey (D),
Carolyn Maloney (D),
Sean Maloney (D),
Candice Miller (R),
Patrick Murphy (D),
Randy Neugebauer (R),
Eleanor Holmes Norton (D),
Richard Nugent (R),
Erik Paulsen (R),
Ed Perlmutter (D),
Chellie Pingree (D),
Robert Pittenger (R),
Bill Posey (R),
James Renacci (R),
Dennis Ross (R),
Edward Royce (R),
Aaron Schock (R),
F. James Sensenbrenner (R),
Brad Sherman (D),
Steve Stivers (R),
Patrick Tiberi (R),
Niki Tsongas (D),
Tim Walberg (R),
Debbie Wasserman Schultz (D),
Peter Welch (D),
Lynn Westmoreland (R),
Roger Williams (R),
Frederica Wilson (D),
Last Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 04/14/2015)
Official Document
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