summary
Introduced
02/04/2015
02/04/2015
In Committee
02/04/2015
02/04/2015
Crossed Over
Passed
Dead
01/03/2017
01/03/2017
Introduced Session
114th Congress
Bill Summary
SAFE Act Confidentiality and Privilege Enhancement Act Amends the S.A.F.E. Mortgage Licensing Act of 2008 to extend to state and federal regulatory officials having financial services oversight authority (currently only those having mortgage oversight authority) access to any information provided to the Nationwide Mortgage Licensing System and Registry (or any system established by the Director of the Consumer Financial Protection Bureau), without the loss of privilege or confidentiality protections provided by federal and state laws.
AI Summary
This bill, titled the SAFE Act Confidentiality and Privilege Enhancement Act, amends the S.A.F.E. Mortgage Licensing Act of 2008 to expand access to information within the Nationwide Mortgage Licensing System and Registry (NMLS), or any similar system established by the Director of the Consumer Financial Protection Bureau (CFPB), to a broader group of regulatory officials. Specifically, it allows state and federal officials who oversee the broader financial services industry, not just those focused on mortgages, to access this information. Crucially, this access is granted without compromising the privilege or confidentiality protections that are already in place under federal and state laws, ensuring that sensitive information remains protected while facilitating better oversight of the financial services sector.
Committee Categories
Housing and Urban Affairs
Sponsors (6)
Shelley Moore Capito (R)*,
Mike Crapo (R),
Heidi Heitkamp (D),
Joe Manchin (I),
Jeff Merkley (D),
Pat Toomey (R),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 02/04/2015)
Official Document
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