MA S116

Bill

Protecting the privacy of consumer financial information

Introduced
01/23/2017

In Committee
02/20/2018

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation to protect the privacy of consumer financial information. Consumer Protection and Professional Licensure.

AI Summary

This bill, known as the "Massachusetts Financial Information Privacy Act," aims to protect the privacy of consumer financial information. The key provisions are: 1. Financial institutions cannot sell, share, transfer, or disclose consumers' nonpublic personal information to non-affiliated third parties without the consumer's explicit prior consent. 2. Financial institutions must provide consumers an annual notice and opportunity to opt-out of having their nonpublic personal information disclosed to affiliates. 3. Exceptions are provided for certain disclosures, such as to service a consumer's account, prevent fraud, or comply with legal requirements. 4. Penalties are established for entities that negligently or knowingly violate the law's provisions, including civil fines up to $2,500 per violation or $500,000 total for a single incident. 5. The law preempts local regulations on the use and sharing of nonpublic personal information by financial institutions and applies both prospectively and retroactively.

Committee Categories

Budget and Finance, Business and Industry, Labor and Employment

Sponsors (3)

Jim Arciero (D), Jamie Eldridge (D), Robert Koczera (D),

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 02/20/2018)

Official Document

https://malegislature.gov/Bills/190/S116

(15 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S116
Bill	https://malegislature.gov/Bills/190/S116.pdf

Bill	Bill Name	Last Action	Type
H1728	Relating to consumer protections in the sale and usage of propane gas	Accompanied a study order, see H4651	Similar To
H185	Providing security to consumers for purchases from certain vendors	Accompanied a study order, see H4638	Similar To
H2164	To ban hospital facility fees and surprise billing	Accompanied a study order, see H4778	Similar To
H344	Relative to consumer protection and home care services agencies	Accompanied a study order, see H4659	Similar To
H35	Relative to enhancing consumer protection with respect to unclaimed property	Accompanied a study order, see H4785	Similar To
H3584	Relative to health care liens and consumer protection	Accompanied a study order, see H4721	Similar To
H503	Relative to providing consumer protection in the licensing of appraisers	Accompanied a study order, see H4778	Similar To
H519	Relative to consumer protection following a bankruptcy	Accompanied a study order, see H4778	Similar To
H556	Providing additional consumer protections in the repair of damaged motor vehicles	Accompanied a study order, see H4778	Similar To
S127	To protect consumers with automobile leases	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S143	Relative to unsolicited loans	New draft substituted, see S2357	Similar To
S1845	Relative to protecting consumers of gas and electricity from paying for leaked and unaccounted for gas	Accompanied a study order, see S2498	Similar To
S2336	Protecting consumers by prohibiting blocking, throttling, or paid prioritization in the provision of internet service	New draft substituted, see S2610	Similar To
S2357	Relative to unsolicited loans	No further action taken	Similar To
S2610	Promoting net neutrality and consumer protection	No further action taken	Similar To

Bill > S116

MA S116

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary